Landscape Capital Management L.L.C. Sells 1,699 Shares of Spotify Technology S.A. (NYSE:SPOT)

Landscape Capital Management L.L.C. cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 26.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,834 shares of the company’s stock after selling 1,699 shares during the period. Landscape Capital Management L.L.C.’s holdings in Spotify Technology were worth $2,163,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new position in shares of Spotify Technology in the 4th quarter worth about $27,000. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the third quarter worth approximately $33,000. Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the period. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Macquarie increased their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Canaccord Genuity Group raised their target price on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Guggenheim reiterated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a report on Monday, February 24th. Finally, Redburn Atlantic began coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $557.47.

Spotify Technology Stock Down 9.9 %

SPOT opened at $502.90 on Friday. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The company’s 50-day moving average price is $583.28 and its two-hundred day moving average price is $484.42. The stock has a market cap of $102.95 billion, a price-to-earnings ratio of 84.52 and a beta of 1.75.

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.