Spotify Technology S.A. (NYSE:SPOT) is Privium Fund Management B.V.’s 2nd Largest Position

Privium Fund Management B.V. lessened its position in Spotify Technology S.A. (NYSE:SPOT) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 149,000 shares of the company’s stock after selling 1,000 shares during the quarter. Spotify Technology makes up 13.7% of Privium Fund Management B.V.’s investment portfolio, making the stock its 2nd largest holding. Privium Fund Management B.V. owned approximately 0.07% of Spotify Technology worth $54,958,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPOT. GQG Partners LLC acquired a new stake in Spotify Technology during the 1st quarter worth approximately $610,040,000. Bamco Inc. NY increased its position in shares of Spotify Technology by 28.3% during the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock worth $228,164,000 after acquiring an additional 190,931 shares during the period. Swedbank AB raised its stake in shares of 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 in the last quarter. Perpetual Ltd boosted its holdings in Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. grew its stake in Spotify Technology by 5.6% during 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 in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.2 %

Spotify Technology stock opened at $400.68 on Friday. The stock has a 50 day moving average of $366.54 and a two-hundred day moving average of $332.40. Spotify Technology S.A. has a twelve month low of $167.64 and a twelve month high of $405.93. The stock has a market capitalization of $79.76 billion, a price-to-earnings ratio of 163.54 and a beta of 1.56. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of analyst reports. TD Cowen increased their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI boosted their price target on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley raised their price objective on shares of Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Guggenheim boosted their target price on shares of Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $379.79.

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.