Jag Capital Management LLC Sells 8,022 Shares of Spotify Technology S.A. (NYSE:SPOT)

Jag Capital Management LLC lowered its holdings in Spotify Technology S.A. (NYSE:SPOT) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,798 shares of the company’s stock after selling 8,022 shares during the period. Spotify Technology makes up about 1.8% of Jag Capital Management LLC’s holdings, making the stock its 21st biggest position. Jag Capital Management LLC’s holdings in Spotify Technology were worth $12,884,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology in the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC raised its holdings in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares during the last quarter. Rakuten Securities Inc. raised its holdings in Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 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 analyst reports. The Goldman Sachs Group upped their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Guggenheim restated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. UBS Group upped their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. 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, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Trading Down 1.5 %

NYSE SPOT opened at $599.01 on Tuesday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The stock has a market cap of $119.24 billion, a price-to-earnings ratio of 100.67 and a beta of 1.63. The company’s 50 day moving average is $539.75 and its two-hundred day moving average is $448.32.

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.