Spotify Technology S.A. (NYSE:SPOT) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 41.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,339 shares of the company’s stock after selling 4,419 shares during the quarter. GSA Capital Partners LLP’s holdings in Spotify Technology were worth $2,336,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Pathway Capital Management LP grew its position in shares of Spotify Technology by 23.8% during the 3rd quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after acquiring an additional 11,042 shares during the period. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. Venturi Wealth Management LLC increased its position in shares of Spotify Technology by 80.4% in the third quarter. Venturi Wealth Management LLC now owns 956 shares of the company’s stock valued at $352,000 after buying an additional 426 shares in the last quarter. Jag Capital Management LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $13,569,000. Finally, GDS Wealth Management purchased a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $498,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on SPOT. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Macquarie lifted their price objective on Spotify Technology from $345.00 to $395.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $320.00 to $425.00 in a report on Wednesday, July 24th. Pivotal Research lifted their price target on Spotify Technology from $460.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Evercore ISI increased their price objective on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $381.04.

Spotify Technology Stock Up 2.4 %

Shares of SPOT opened at $410.23 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $81.66 billion, a P/E ratio of 167.44 and a beta of 1.56. The company’s 50-day moving average price is $366.54 and its 200 day moving average price is $332.96. Spotify Technology S.A. has a 12-month low of $169.02 and a 12-month high of $412.95.

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.