Caz Investments LP Trims Holdings in Spotify Technology S.A. (NYSE:SPOT)

Caz Investments LP decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150 shares of the company’s stock after selling 50 shares during the period. Spotify Technology accounts for about 0.1% of Caz Investments LP’s holdings, making the stock its 19th largest holding. Caz Investments LP’s holdings in Spotify Technology were worth $67,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Prestige Wealth Management Group LLC purchased a new position in shares of Spotify Technology during the third quarter valued at about $26,000. Hillsdale Investment Management Inc. bought a new stake in Spotify Technology during the 4th quarter valued at approximately $27,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC grew its holdings in shares of 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 acquiring an additional 33 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of 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 during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. FBN Securities assumed coverage on shares of Spotify Technology in a research report on Friday. They issued a “sector perform” rating and a $645.00 target price on the stock. UBS Group increased their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. KeyCorp boosted their price objective 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. Finally, China Renaissance assumed coverage on shares of Spotify Technology in a research note on Wednesday. They set a “buy” rating and a $740.00 target price for the company. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $552.47.

Spotify Technology Price Performance

NYSE SPOT opened at $559.76 on Friday. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $260.80 and a 1-year high of $652.63. The business’s fifty day moving average price is $578.28 and its 200-day moving average price is $477.12.

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.