Spotify Technology S.A. (NYSE:SPOT) is AMF Tjanstepension AB’s 6th Largest Position

AMF Tjanstepension AB lessened its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 26.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,100,000 shares of the company’s stock after selling 400,000 shares during the quarter. Spotify Technology makes up about 3.5% of AMF Tjanstepension AB’s holdings, making the stock its 6th largest position. AMF Tjanstepension AB owned about 0.55% of Spotify Technology worth $492,118,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new stake in Spotify Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC increased its position in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. raised its stake in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after purchasing an additional 32 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 2.3 %

SPOT opened at $531.15 on Friday. The firm has a market capitalization of $108.73 billion, a P/E ratio of 89.27 and a beta of 1.66. The firm’s 50 day moving average is $547.82 and its 200-day moving average is $452.93. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63.

Analyst Upgrades and Downgrades

SPOT has been the subject of several recent analyst reports. KeyCorp lifted their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Benchmark raised their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Finally, Barclays upped their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target 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.