Hussman Strategic Advisors Inc. Has $2.82 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Hussman Strategic Advisors Inc. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 25.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,300 shares of the company’s stock after selling 2,100 shares during the period. Spotify Technology makes up approximately 0.8% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 28th largest position. Hussman Strategic Advisors Inc.’s holdings in Spotify Technology were worth $2,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. First Horizon Advisors Inc. grew its stake in Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the last quarter. West Bancorporation Inc. grew its stake in Spotify Technology by 3.4% in the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares during the last quarter. Joel Isaacson & Co. LLC grew its stake in Spotify Technology by 1.9% in the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after buying an additional 29 shares during the last quarter. Avior Wealth Management LLC grew its stake in Spotify Technology by 12.0% in the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the last quarter. Finally, Park National Corp OH grew its stake in Spotify Technology by 4.1% in the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SPOT. Guggenheim raised their target price on shares of Spotify Technology from $520.00 to $675.00 and gave the company a “buy” rating in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. UBS Group raised their target price on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Phillip Securities restated an “accumulate” rating and issued a $485.00 price target (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Finally, Piper Sandler raised their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Up 1.8 %

Shares of SPOT stock opened at $641.78 on Thursday. The company has a market capitalization of $127.75 billion, a P/E ratio of 107.86 and a beta of 1.63. Spotify Technology S.A. has a 12-month low of $239.66 and a 12-month high of $652.63. The firm has a 50-day moving average price of $517.95 and a 200 day moving average price of $432.35.

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.