Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 83,676 shares of the company’s stock after selling 2,237 shares during the period. Handelsbanken Fonder AB’s holdings in Spotify Technology were worth $37,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Aigen Investment Management LP increased its stake in Spotify Technology by 42.4% during the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock valued at $3,612,000 after buying an additional 2,918 shares during the period. Jennison Associates LLC acquired a new position in shares of Spotify Technology during the fourth quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology during the fourth quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Spotify Technology in the fourth quarter worth approximately $214,000. Finally, Pathway Capital Management LP lifted its position in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock worth $21,132,000 after purchasing an additional 11,042 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Phillip Securities restated an “accumulate” rating and issued a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Benchmark increased their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. One 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Trading Down 1.0 %

SPOT opened at $636.52 on Friday. The stock has a fifty day moving average price of $521.07 and a 200 day moving average price of $433.77. Spotify Technology S.A. has a 1 year low of $240.73 and a 1 year high of $652.63. The stock has a market cap of $126.70 billion, a price-to-earnings ratio of 106.98 and a beta of 1.63.

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.