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Assenagon Asset Management SA reduced its stake in Spotify Technology SA (NYSE:SPOT – Get Rating) by 7.1% in the fourth quarter, according to its latest Form 13F filed with the SEC. The fund owned 409,500 shares of the company after selling 31,074 of his shares during the quarter. Assenagon Asset Management SA owned his 0.21% of Spotify Technology worth $32,330,000 as of the latest filing with the SEC.
→ Bank account: Freeze! (From Weiss Ratings)
Several other hedge funds and other institutional investors have also recently bought and sold shares in SPOT. Baillie Gifford & Co. increased his Spotify technology holdings by 6.7% in the third quarter. Baillie Gifford & Co. now owns 27,964,517 shares worth $2,413,338,000 after he purchased an additional 1,764,880 shares during the previous quarter. BlackRock Inc. increased his Spotify technology holdings by 20.2% in the third quarter. BlackRock Inc. now owns 4,214,562 shares worth $363,717,000 after purchasing an additional 707,653 shares last quarter. Samlyn Capital LLC increased its Spotify technology holdings by 394.4% in the third quarter. Samlyn Capital LLC now owns 453,792 shares worth $39,162,000 after purchasing an additional 362,003 shares during the previous quarter. Renaissance Technologies LLC increased its holding of Spotify Technology by 135.4% in the second quarter. Renaissance Technologies LLC owns 591,700 shares worth $55,519,000 after purchasing an additional 340,300 shares in the previous quarter. Finally, Alecta Tjanstepension Omsesidigt increased its Spotify technology holdings by 9.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 3,035,600 shares in the company, valued at $261.79 million, after purchasing a further 250,000 shares during the previous quarter. 52.80% of the shares are owned by institutional investors.
Spotify Technology Stock Performance
SPOT shares opened at $126.41 on Tuesday. Spotify Technology SA has a 52-week low of $69.29 and a 52-week high of $160.06. The company has a 50-day moving average of $114.67 and a 200-day moving average of $95.32.
Spotify Technology (NYSE:SPOT – Get Rating) last reported quarterly results on Tuesday, January 31. The company reported his earnings per share (EPS) for the quarter ($1.43), missing analyst consensus expectations ($1.28) ($0.15). Spotify Technology had a net profit margin of 3.48% and a return on equity of 17.78%. The company’s revenue for the quarter was $3.23 billion, compared to consensus expectations of $3.26 billion. Equity analysts expect Spotify Technology SA to see his EPS of -2.15 this year.
Analyst sets new price target
Recently, several analysts have commented on the company. Rosenblatt Securities has raised Spotify Technology’s price target from $87.00 to $110.00, giving the company a “neutral” rating in a report on Wednesday, February 1. Jefferies Financial Group downgraded Spotify Technology’s rating from “buy” to “hold” in its research notes on Thursday, January 12, lowering the company’s target price from $115.00 to $95.00. UBS Group lowered its target price for Spotify technology from $142.00 to $100.00 in a research note on Thursday, January 5. Piper Sandler increased Spotify Technology’s target price from $87.00 to $105.00 in a research note on Tuesday, January 31st. Finally, Barclays raised its target price for her Spotify technology from $131.00 to $145.00, giving the company an “Overweight” rating in its research notes on Wednesday, February 1. Eight research analysts rated the stock with a hold rating and 13 assigned a buy rating to the company’s stock. According to MarketBeat data, the stock currently has an average rating of “moderate buy” and an average target price of $131.77.
About Spotify Technology
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Spotify Technology SA is a digital music service that gives music fans instant access to the world of music. It operates through its Premium and Ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
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