Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. reduced its stake in Spotify Technology S.A. (NYSE:SPOT) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,300 shares of the company’s stock after selling 2,100 shares during the period. Spotify Technology accounts for approximately 0.8% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 28th biggest position. Hussman Strategic Advisors Inc.’s holdings in Spotify Technology were worth $2,818,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. WCM Investment Management LLC lifted its stake 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 during the period. Massachusetts Financial Services Co. MA lifted its stake 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 during the period. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $1,335,575,000. State Street Corp raised 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 purchasing an additional 28,864 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.8 %

SPOT stock opened at $641.78 on Thursday. Spotify Technology S.A. has a 12-month low of $239.66 and a 12-month high of $652.63. The company has a market cap of $127.75 billion, a price-to-earnings ratio of 107.86 and a beta of 1.63. The company has a 50 day moving average of $517.95 and a two-hundred day moving average of $432.35.

Analyst Ratings Changes

A number of research firms recently commented on SPOT. Pivotal Research boosted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, UBS Group boosted their target price 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $529.43.

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.