Picton Mahoney Asset Management decreased its stake in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 17.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,522 shares of the company’s stock after selling 8,700 shares during the period. Picton Mahoney Asset Management’s holdings in Spotify Technology were worth $19,024,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new position in shares of Spotify Technology during the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at $214,000. Covenant Asset Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at $3,364,000. Finally, Kestra Investment Management LLC bought a new position in shares of Spotify Technology during the third quarter valued at $780,000. Institutional investors own 84.09% of the company’s stock.
Spotify Technology Price Performance
Shares of NYSE SPOT opened at $576.02 on Friday. The stock has a market capitalization of $117.92 billion, a P/E ratio of 96.81 and a beta of 1.66. The company has a 50-day moving average price of $555.35 and a 200-day moving average price of $459.43. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63.
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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.
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