Gilder Gagnon Howe & Co. LLC Lowers Holdings in Spotify Technology S.A. (NYSE:SPOT)

Gilder Gagnon Howe & Co. LLC lowered its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 162,753 shares of the company's stock after selling 1,649 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 0.08% of Spotify Technology worth $72,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new position in shares of Spotify Technology during the 4th quarter worth $27,000. Quent Capital LLC lifted its position in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after buying an additional 57 shares during the last quarter. Noble Wealth Management PBC purchased a new position in Spotify Technology during the fourth quarter worth about $52,000. Larson Financial Group LLC lifted its holdings in shares of 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 acquiring an additional 47 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Spotify Technology by 89.9% during the 4th quarter. Versant Capital Management Inc now owns 150 shares of the company's stock worth $67,000 after purchasing an additional 71 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

NYSE SPOT traded up $37.87 during trading on Wednesday, reaching $614.81. The company's stock had a trading volume of 4,189,786 shares, compared to its average volume of 7,247,449. Spotify Technology S.A. has a twelve month low of $540.64 and a twelve month high of $617.04. The firm has a market cap of $125.86 billion, a price-to-earnings ratio of 103.33 and a beta of 1.75. The business's fifty day moving average price is $569.14 and its 200-day moving average price is $510.43.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPOT. Wolfe Research raised Spotify Technology from a "peer perform" rating to an "outperform" rating and set a $660.00 target price on the stock in a research report on Monday, April 21st. Morgan Stanley boosted their price objective on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Evercore ISI lowered their target price on Spotify Technology from $700.00 to $650.00 and set an "outperform" rating for the company in a report on Wednesday. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Finally, Rosenblatt Securities dropped their price objective on shares of Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a report on Wednesday. Seven 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, the company has a consensus rating of "Moderate Buy" and an average price target of $604.37.

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.