Dnca Finance Has $10.07 Million Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Dnca Finance reduced its stake in Spotify Technology S.A. (NYSE:SPOT) by 59.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,500 shares of the company’s stock after selling 32,793 shares during the period. Dnca Finance’s holdings in Spotify Technology were worth $10,066,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC bought a new position in Spotify Technology during the fourth quarter worth about $1,335,575,000. GQG Partners LLC acquired a new position in Spotify Technology during the fourth quarter valued at approximately $800,725,000. Forsta AP Fonden bought a new stake in Spotify Technology in the fourth quarter valued at approximately $619,600,000. Geode Capital Management LLC raised its holdings in Spotify Technology by 561.6% in the fourth 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 during the period. Finally, Norges Bank bought a new position in shares of Spotify Technology during the fourth quarter worth $396,028,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Up 2.1 %

SPOT opened at $574.85 on Friday. The stock’s fifty day simple moving average is $575.74 and its 200 day simple moving average is $498.86. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The stock has a market cap of $117.68 billion, a PE ratio of 96.61 and a beta of 1.75.

Analyst Ratings Changes

Several research firms have weighed in on SPOT. UBS Group reduced their target price on Spotify Technology from $690.00 to $680.00 and set a “buy” rating on the stock in a report on Tuesday. Wells Fargo & Company raised their target price on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday, March 28th. Barclays boosted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group boosted their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their target price on Spotify Technology from $730.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $564.45.

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.