Quantbot Technologies LP Has $5.43 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Quantbot Technologies LP lessened its position in Spotify Technology S.A. (NYSE:SPOT) by 39.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,128 shares of the company’s stock after selling 7,849 shares during the quarter. Quantbot Technologies LP’s holdings in Spotify Technology were worth $5,426,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Jennison Associates LLC purchased a new position in Spotify Technology in the fourth quarter valued at about $1,335,575,000. Forsta AP Fonden bought a new position in shares of Spotify Technology in the 4th quarter valued at approximately $619,600,000. Amundi lifted its holdings in Spotify Technology by 194.2% in the 4th quarter. Amundi now owns 750,030 shares of the company’s stock worth $359,812,000 after purchasing an additional 495,087 shares during the last quarter. Swiss National Bank acquired a new position in Spotify Technology during the fourth quarter valued at approximately $189,197,000. Finally, FMR LLC raised its position in shares of Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $576.02 on Friday. The firm’s 50 day moving average price is $555.35 and its two-hundred day moving average price is $459.43. The stock has a market cap of $117.92 billion, a PE ratio of 96.81 and a beta of 1.66. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63.

Analyst Ratings Changes

SPOT has been the topic of a number of research analyst reports. Citigroup raised their target price 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. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $675.00 target price on shares of Spotify Technology in a report on Monday, February 24th. Redburn Atlantic started coverage on Spotify Technology in a report on Tuesday. They set a “neutral” rating and a $545.00 price target for the company. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

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.