Lone Pine Capital LLC Has $408.71 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Lone Pine Capital LLC lowered its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 41.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 913,564 shares of the company's stock after selling 638,965 shares during the period. Spotify Technology accounts for approximately 3.0% of Lone Pine Capital LLC's holdings, making the stock its 16th biggest holding. Lone Pine Capital LLC owned 0.46% of Spotify Technology worth $408,710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $27,000. Quent Capital LLC grew its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after purchasing an additional 57 shares during the last quarter. Noble Wealth Management PBC bought a new position in Spotify Technology in the 4th quarter worth about $52,000. Strategic Financial Concepts LLC bought a new position in Spotify Technology in the 4th quarter worth about $56,000. Finally, Larson Financial Group LLC grew its position in Spotify Technology by 48.5% in the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock worth $64,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of several recent analyst reports. Redburn Atlantic initiated coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price for the company. China Renaissance started coverage on shares of Spotify Technology in a research report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 target price for the company. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Finally, Guggenheim reiterated a "buy" rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $602.15.

Spotify Technology Price Performance

SPOT traded up $37.87 during trading on Wednesday, reaching $614.81. 4,229,828 shares of the stock traded hands, compared to its average volume of 2,146,579. The stock has a market cap of $125.86 billion, a price-to-earnings ratio of 103.33 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $280.66 and a fifty-two week high of $652.63. The stock's 50-day simple moving average is $569.30 and its two-hundred day simple moving average is $511.15.

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.