Comgest Global Investors S.A.S. Sells 14,630 Shares of Spotify Technology S.A. (NYSE:SPOT)

Comgest Global Investors S.A.S. trimmed its holdings in Spotify Technology S.A. (NYSE:SPOT) by 31.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,933 shares of the company’s stock after selling 14,630 shares during the quarter. Comgest Global Investors S.A.S.’s holdings in Spotify Technology were worth $14,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently modified their holdings of SPOT. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology during the fourth quarter valued at about $27,000. Quent Capital LLC raised its holdings in Spotify Technology by 135.7% during 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. Noble Wealth Management PBC bought a new stake in shares of Spotify Technology during the fourth quarter worth about $52,000. Larson Financial Group LLC lifted its position in Spotify Technology by 48.5% in the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company’s stock valued at $64,000 after acquiring an additional 47 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Spotify Technology by 89.9% during the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company’s stock valued at $67,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $543.24 on Monday. The company has a market cap of $111.21 billion, a price-to-earnings ratio of 91.30 and a beta of 1.75. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The firm has a fifty day moving average price of $581.80 and a two-hundred day moving average price of $493.82.

Analysts Set New Price Targets

SPOT has been the subject of several recent research reports. Redburn Atlantic initiated coverage on Spotify Technology in a report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price target for the company. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Macquarie boosted their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. China Renaissance began coverage on Spotify Technology in a report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 target price for the company. Finally, UBS Group cut their price objective on Spotify Technology from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.30.

Spotify Technology 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.