Long Walk Management LP Has $31.14 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Long Walk Management LP trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 84,500 shares of the company’s stock after selling 500 shares during the period. Spotify Technology makes up about 12.9% of Long Walk Management LP’s holdings, making the stock its 2nd largest position. Long Walk Management LP’s holdings in Spotify Technology were worth $31,141,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. GQG Partners LLC bought a new stake in Spotify Technology during the first quarter worth approximately $610,040,000. Bamco Inc. NY raised its stake in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares in the last quarter. Swedbank AB lifted its holdings in shares of Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after buying an additional 99,730 shares during the period. Perpetual Ltd boosted its stake in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its holdings in Spotify Technology by 5.6% during the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after acquiring an additional 36,000 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.2 %

SPOT opened at $400.68 on Friday. The business has a 50 day moving average of $366.54 and a 200-day moving average of $332.40. The stock has a market capitalization of $79.76 billion, a price-to-earnings ratio of 163.54 and a beta of 1.56. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1-year low of $167.64 and a 1-year high of $405.93.

Analyst Ratings Changes

Several research analysts have issued reports on SPOT shares. KeyCorp upped their price target on Spotify Technology from $440.00 to $490.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Guggenheim lifted their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Benchmark restated a “buy” rating and issued a $405.00 target price on shares of Spotify Technology in a report on Monday, July 22nd. Macquarie upped their price target on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Pivotal Research raised their price objective on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $379.79.

About Spotify Technology

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.