Gardner Lewis Asset Management L P Has $5.01 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Gardner Lewis Asset Management L P trimmed its stake in Spotify Technology S.A. (NYSE:SPOT) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,208 shares of the company’s stock after selling 1,860 shares during the period. Spotify Technology comprises about 1.2% of Gardner Lewis Asset Management L P’s investment portfolio, making the stock its 28th largest position. Gardner Lewis Asset Management L P’s holdings in Spotify Technology were worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Spotify Technology Trading Up 0.7 %

Shares of SPOT stock opened at $580.27 on Friday. The firm’s fifty day moving average price is $576.80 and its two-hundred day moving average price is $475.48. Spotify Technology S.A. has a 1 year low of $258.00 and a 1 year high of $652.63. The firm has a market capitalization of $118.79 billion, a P/E ratio of 97.52 and a beta of 1.66.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Barclays increased their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group boosted their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, China Renaissance began coverage on Spotify Technology in a report on Wednesday. They set a “buy” rating and a $740.00 price objective for the company. Eight equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $547.55.

Spotify Technology Company 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.