Spotify Technology S.A. (NYSE:SPOT) Position Decreased by Long Walk Management LP

Long Walk Management LP decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,500 shares of the company’s stock after selling 500 shares during the quarter. Spotify Technology comprises about 12.9% of Long Walk Management LP’s investment portfolio, making the stock its 2nd biggest position. Long Walk Management LP’s holdings in Spotify Technology were worth $31,141,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. GQG Partners LLC purchased a new position in Spotify Technology during the first quarter worth approximately $610,040,000. Bamco Inc. NY raised its position in shares of Spotify Technology by 28.3% in the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after buying an additional 190,931 shares during the period. Swedbank AB boosted its holdings in Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after acquiring an additional 99,730 shares during the last quarter. Perpetual Ltd increased its stake in Spotify Technology by 24.3% during the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock worth $279,965,000 after acquiring an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. raised its holdings in shares of Spotify Technology by 5.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock worth $213,396,000 after purchasing an additional 36,000 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Spotify Technology from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. TD Cowen increased their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Guggenheim increased their target price on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $379.79.

Spotify Technology Trading Up 0.2 %

Shares of NYSE:SPOT opened at $400.68 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $366.54 and its 200 day moving average price is $332.40. The company has a market cap of $79.76 billion, a PE ratio of 163.54 and a beta of 1.56. Spotify Technology S.A. has a fifty-two week low of $167.64 and a fifty-two week high of $405.93.

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.