Parametrica Management Ltd Sells 861 Shares of Spotify Technology S.A. (NYSE:SPOT)

Parametrica Management Ltd cut its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 58.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 617 shares of the company’s stock after selling 861 shares during the quarter. Parametrica Management Ltd’s holdings in Spotify Technology were worth $276,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter worth about $26,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $27,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology in the third quarter valued at approximately $33,000. Larson Financial Group LLC grew its holdings in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the period. Finally, Quent Capital LLC increased its position in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT opened at $615.84 on Wednesday. The firm has a market cap of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The stock has a 50 day simple moving average of $573.25 and a two-hundred day simple moving average of $474.03.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. UBS Group lifted their price objective on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Rosenblatt Securities reissued a “neutral” rating and set a $658.00 target price (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $540.68.

About Spotify Technology

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.