GSA Capital Partners LLP Sells 4,419 Shares of Spotify Technology S.A. (NYSE:SPOT)

GSA Capital Partners LLP lessened its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 41.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,339 shares of the company’s stock after selling 4,419 shares during the quarter. GSA Capital Partners LLP’s holdings in Spotify Technology were worth $2,336,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GQG Partners LLC purchased a new stake in shares of Spotify Technology in the 1st quarter worth $610,040,000. Swedbank AB purchased a new position in shares of Spotify Technology during the 1st quarter valued at about $198,663,000. WCM Investment Management LLC boosted its position in shares of Spotify Technology by 18.5% in the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. International Assets Investment Management LLC increased its stake in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after acquiring an additional 333,782 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on SPOT. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $420.00 to $470.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $340.00 target price on shares of Spotify Technology in a report on Monday, October 7th. Morgan Stanley upped their price target on shares of Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen lifted their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $381.04.

Spotify Technology Price Performance

NYSE SPOT opened at $410.23 on Tuesday. The stock’s fifty day moving average price is $366.54 and its 200 day moving average price is $332.96. Spotify Technology S.A. has a 1 year low of $169.02 and a 1 year high of $412.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $81.66 billion, a price-to-earnings ratio of 167.44 and a beta of 1.56.

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.