River Global Investors LLP Has $2.56 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

River Global Investors LLP lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 43.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,721 shares of the company’s stock after selling 4,429 shares during the period. River Global Investors LLP’s holdings in Spotify Technology were worth $2,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NS Partners Ltd purchased a new position in Spotify Technology during the 4th quarter worth $805,000. PNC Financial Services Group Inc. boosted its holdings in Spotify Technology by 14.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,434 shares of the company’s stock worth $6,010,000 after purchasing an additional 1,671 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Spotify Technology during the fourth quarter worth about $3,803,000. Banco Santander S.A. bought a new stake in Spotify Technology in the 4th quarter worth about $246,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in Spotify Technology by 57.5% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 38,270 shares of the company’s stock valued at $17,903,000 after buying an additional 13,976 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 2.3 %

Shares of Spotify Technology stock opened at $531.15 on Friday. The company’s 50-day moving average price is $547.82 and its 200-day moving average price is $452.93. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Morgan Stanley upped their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 target price (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Finally, Phillip Securities restated an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Company Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.