GS Investments Inc. Trims Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

GS Investments Inc. cut its holdings in Spotify Technology S.A. (NYSE:SPOT) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,846 shares of the company’s stock after selling 35 shares during the quarter. GS Investments Inc.’s holdings in Spotify Technology were worth $826,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Jennison Associates LLC purchased a new stake in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Forsta AP Fonden acquired a new stake in Spotify Technology in the 4th quarter worth approximately $619,600,000. Amundi grew its position in Spotify Technology by 194.2% during the 4th quarter. Amundi now owns 750,030 shares of the company’s stock worth $359,812,000 after purchasing an additional 495,087 shares during the last quarter. Swiss National Bank acquired a new position in Spotify Technology during the 4th quarter valued at approximately $189,197,000. Finally, FMR LLC raised its holdings in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPOT. Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Guggenheim restated a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. Finally, Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price target for the company. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Stock Up 2.9 %

NYSE SPOT opened at $585.75 on Thursday. Spotify Technology S.A. has a fifty-two week low of $254.42 and a fifty-two week high of $652.63. The business has a fifty day moving average of $562.18 and a 200-day moving average of $465.39. The stock has a market cap of $119.91 billion, a price-to-earnings ratio of 98.45 and a beta of 1.66.

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.