Spotify Technology S.A. (NYSE:SPOT) Position Cut by Ossiam

Ossiam cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 7.3% in the 4th quarter, HoldingsChannel reports. The fund owned 6,299 shares of the company’s stock after selling 496 shares during the period. Ossiam’s holdings in Spotify Technology were worth $2,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Auxano Advisors LLC grew its holdings in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after buying an additional 25 shares in the last quarter. First Horizon Advisors Inc. increased its position in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock worth $225,000 after buying an additional 26 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after acquiring an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its stake in shares of Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after acquiring an additional 27 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Redburn Atlantic began coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Morgan Stanley increased their price objective on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Guggenheim restated a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, KeyCorp cut their price target on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $564.45.

Spotify Technology Stock Performance

Shares of SPOT opened at $574.85 on Friday. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The firm has a market cap of $117.68 billion, a price-to-earnings ratio of 96.61 and a beta of 1.75. The firm has a 50 day moving average price of $575.74 and a 200-day moving average price of $499.73.

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.