Caz Investments LP Reduces Stake in Spotify Technology S.A. (NYSE:SPOT)

Caz Investments LP lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150 shares of the company’s stock after selling 50 shares during the period. Spotify Technology accounts for 0.1% of Caz Investments LP’s investment portfolio, making the stock its 19th biggest holding. Caz Investments LP’s holdings in Spotify Technology were worth $67,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology in the third quarter worth about $26,000. Hillsdale Investment Management Inc. purchased a new position in Spotify Technology in the 4th quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology in the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the period. Finally, Quent Capital LLC lifted its position 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 acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $559.76 on Friday. The business has a 50-day moving average of $578.28 and a 200 day moving average of $477.12. Spotify Technology S.A. has a 1-year low of $260.80 and a 1-year high of $652.63. The stock has a market capitalization of $114.59 billion, a PE ratio of 94.08 and a beta of 1.66.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SPOT. Guggenheim reiterated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Macquarie lifted their target price on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. FBN Securities began coverage on shares of Spotify Technology in a report on Friday. They issued a “sector perform” rating and a $645.00 price target on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Finally, UBS Group increased their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $552.47.

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.