Spotify Technology S.A. (NYSE:SPOT) is Privium Fund Management B.V.’s 2nd Largest Position

Privium Fund Management B.V. trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 145,000 shares of the company’s stock after selling 4,000 shares during the quarter. Spotify Technology accounts for approximately 14.7% of Privium Fund Management B.V.’s portfolio, making the stock its 2nd biggest position. Privium Fund Management B.V. owned about 0.07% of Spotify Technology worth $64,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Massachusetts Financial Services Co. MA raised its stake in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock valued at $1,286,969,000 after acquiring an additional 102,786 shares during the period. Jennison Associates LLC acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. State Street Corp raised its position in Spotify Technology by 1.5% in the third quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares during the period. FMR LLC lifted its stake in Spotify Technology by 23.4% during the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in shares of Spotify Technology during the fourth quarter worth $619,600,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Redburn Atlantic started coverage on Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective on the stock. UBS Group boosted their price target 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. Citigroup raised their price objective on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. raised their price target 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. Eight analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $540.68.

Spotify Technology Trading Down 4.7 %

Shares of NYSE:SPOT opened at $569.63 on Wednesday. The firm has a 50 day simple moving average of $560.06 and a 200-day simple moving average of $464.55. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The company has a market capitalization of $116.61 billion, a PE ratio of 95.74 and a beta of 1.66.

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.