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

Parametrica Management Ltd trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 58.3% during the 4th quarter, Holdings Channel.com reports. 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 quarter.

A number of other large investors have also bought and sold shares of the stock. Jennison Associates LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at about $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in shares of Spotify Technology in the 4th quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $214,000. Kestra Investment Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at approximately $780,000. Finally, Swedbank AB raised its holdings in shares of Spotify Technology by 20.9% during the fourth quarter. Swedbank AB now owns 946,129 shares of the company’s stock valued at $423,279,000 after acquiring an additional 163,626 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

SPOT stock opened at $615.84 on Wednesday. The company has a market cap of $126.07 billion, a price-to-earnings ratio of 103.50 and a beta of 1.66. The business’s 50-day moving average is $573.25 and its two-hundred day moving average is $474.03. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPOT. Benchmark boosted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. KeyCorp raised their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Redburn Atlantic assumed coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective on the stock. Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Macquarie lifted their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $540.68.

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.