Artisan Partners Limited Partnership Has $582.58 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Artisan Partners Limited Partnership trimmed its holdings in Spotify Technology S.A. (NYSE:SPOT) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,302,196 shares of the company’s stock after selling 74,935 shares during the period. Artisan Partners Limited Partnership owned about 0.65% of Spotify Technology worth $582,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SPOT. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology in the 4th quarter valued at $27,000. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC boosted its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Finally, Quent Capital LLC grew its holdings in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SPOT shares. 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. UBS Group lifted 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. Rosenblatt Securities reissued 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. KeyCorp boosted their price target on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, China Renaissance assumed coverage on Spotify Technology in a report on Wednesday. They issued a “buy” rating and a $740.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $547.55.

Spotify Technology Trading Down 6.3 %

NYSE SPOT opened at $576.86 on Thursday. The company has a market cap of $118.09 billion, a price-to-earnings ratio of 96.95 and a beta of 1.66. The company has a 50 day moving average of $575.00 and a 200-day moving average of $474.75. Spotify Technology S.A. has a 1-year low of $257.56 and a 1-year high of $652.63.

Spotify Technology 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.