Lbp Am Sa Lowers Stake in Spotify Technology S.A. (NYSE:SPOT)

Lbp Am Sa lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 29.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,991 shares of the company’s stock after selling 35,538 shares during the period. Lbp Am Sa’s holdings in Spotify Technology were worth $37,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC purchased a new stake in Spotify Technology during the fourth quarter worth $447,000. Commonwealth Equity Services LLC increased its position in shares of Spotify Technology by 14.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 14,522 shares of the company’s stock worth $6,497,000 after purchasing an additional 1,797 shares in the last quarter. Impact Capital Partners LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth $287,000. Vestcor Inc acquired a new position in shares of Spotify Technology during the fourth quarter worth $1,026,000. Finally, Swiss National Bank acquired a new position in shares of Spotify Technology during the fourth quarter worth $189,197,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.6 %

SPOT stock opened at $539.11 on Friday. Spotify Technology S.A. has a 12-month low of $249.58 and a 12-month high of $652.63. The stock has a market cap of $110.36 billion, a price-to-earnings ratio of 90.61 and a beta of 1.66. The business’s 50-day moving average is $553.16 and its 200 day moving average is $457.77.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday. They set a “neutral” rating and a $545.00 price target on the stock. Macquarie upped their price target on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $540.68.

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.