Consolidated Press International Holdings Ltd. Decreases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Consolidated Press International Holdings Ltd. lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 2.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,322 shares of the company’s stock after selling 299 shares during the period. Spotify Technology accounts for about 1.0% of Consolidated Press International Holdings Ltd.’s investment portfolio, making the stock its 7th biggest holding. Consolidated Press International Holdings Ltd.’s holdings in Spotify Technology were worth $6,407,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JAT Capital Mgmt LP bought a new position in Spotify Technology in the 4th quarter worth approximately $381,000. Utah Retirement Systems lifted its position in shares of Spotify Technology by 16.4% in the fourth quarter. Utah Retirement Systems now owns 28,371 shares of the company’s stock worth $12,693,000 after buying an additional 3,994 shares in the last quarter. AQR Capital Management LLC boosted its stake in Spotify Technology by 31.2% during the fourth quarter. AQR Capital Management LLC now owns 374,696 shares of the company’s stock valued at $167,632,000 after buying an additional 89,063 shares during the last quarter. Candlestick Capital Management LP grew its holdings in Spotify Technology by 3.7% during the 4th quarter. Candlestick Capital Management LP now owns 108,974 shares of the company’s stock valued at $48,753,000 after buying an additional 3,885 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Spotify Technology by 1,608.1% in the 4th quarter. California State Teachers Retirement System now owns 184,377 shares of the company’s stock worth $82,487,000 after acquiring an additional 173,583 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. Macquarie raised their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Evercore ISI dropped their price objective on shares of Spotify Technology from $700.00 to $650.00 and set an “outperform” rating for the company in a research note on Wednesday. KeyCorp decreased their price target on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Cantor Fitzgerald reduced their price objective on shares of Spotify Technology from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Barclays cut their price target on shares of Spotify Technology from $710.00 to $650.00 and set an “overweight” rating on the stock in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $602.15.

Spotify Technology Trading Up 6.6 %

Shares of Spotify Technology stock opened at $614.81 on Thursday. Spotify Technology S.A. has a 12-month low of $280.66 and a 12-month high of $652.63. The stock has a market cap of $125.86 billion, a price-to-earnings ratio of 103.33 and a beta of 1.75. The company has a fifty day simple moving average of $569.30 and a 200-day simple moving average of $511.15.

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.