Machina Capital S.A.S. Has $720,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Machina Capital S.A.S. reduced its holdings in Spotify Technology S.A. (NYSE:SPOT) by 61.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,610 shares of the company’s stock after selling 2,583 shares during the quarter. Machina Capital S.A.S.’s holdings in Spotify Technology were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. WCM Investment Management LLC boosted its holdings in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after acquiring an additional 102,786 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. State Street Corp boosted its holdings in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock worth $736,073,000 after acquiring an additional 28,864 shares in the last quarter. Finally, FMR LLC lifted its holdings in Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SPOT shares. Bank of America upped their price objective on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Citigroup upped their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Macquarie upped their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Piper Sandler upped their price objective on Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Trading Down 2.3 %

SPOT stock opened at $531.15 on Friday. The stock has a 50-day moving average price of $547.82 and a two-hundred day moving average price of $453.67. The stock has a market cap of $108.73 billion, a PE ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63.

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.