Landscape Capital Management L.L.C. Reduces Position in Spotify Technology S.A. (NYSE:SPOT)

Landscape Capital Management L.L.C. decreased its holdings in Spotify Technology S.A. (NYSE:SPOT) by 26.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,834 shares of the company’s stock after selling 1,699 shares during the period. Landscape Capital Management L.L.C.’s holdings in Spotify Technology were worth $2,163,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC bought a new stake in Spotify Technology during the 4th quarter valued at $1,335,575,000. GQG Partners LLC purchased a new position in shares of Spotify Technology in the fourth quarter valued at $800,725,000. Forsta AP Fonden bought a new stake in shares of Spotify Technology during the 4th quarter valued at $619,600,000. Geode Capital Management LLC lifted its holdings in Spotify Technology by 561.6% during the 4th quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after purchasing an additional 1,259,183 shares in the last quarter. Finally, Norges Bank purchased a new stake in Spotify Technology during the 4th quarter worth about $396,028,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 9.9 %

Shares of SPOT opened at $502.90 on Friday. The stock has a market capitalization of $102.95 billion, a P/E ratio of 84.52 and a beta of 1.75. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The firm has a fifty day simple moving average of $583.28 and a two-hundred day simple moving average of $484.42.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPOT. Benchmark upped their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 target price (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Barclays raised their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, China Renaissance began coverage on Spotify Technology in a research report on Wednesday, March 26th. They issued a “buy” rating and a $740.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $557.47.

Spotify Technology Company 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.