Semanteon Capital Management LP Sells 669 Shares of Spotify Technology S.A. (NYSE:SPOT)

Semanteon Capital Management LP lowered its stake in Spotify Technology S.A. (NYSE:SPOT) by 17.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,215 shares of the company’s stock after selling 669 shares during the quarter. Spotify Technology makes up approximately 0.8% of Semanteon Capital Management LP’s investment portfolio, making the stock its 23rd largest position. Semanteon Capital Management LP’s holdings in Spotify Technology were worth $1,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GQG Partners LLC bought a new position in Spotify Technology in the 1st quarter valued at approximately $610,040,000. Bamco Inc. NY increased its position in Spotify Technology by 28.3% during the 1st quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after purchasing an additional 190,931 shares during the period. Swedbank AB increased its position in Spotify Technology by 13.2% during the 2nd quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after purchasing an additional 99,730 shares during the period. Perpetual Ltd increased its position in Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares during the period. Finally, D1 Capital Partners L.P. increased its position in Spotify Technology by 5.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after purchasing an additional 36,000 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 0.8 %

Shares of SPOT traded up $2.85 during trading hours on Monday, reaching $382.01. 144,469 shares of the company traded hands, compared to its average volume of 1,841,494. The firm has a market cap of $76.04 billion, a price-to-earnings ratio of 157.96 and a beta of 1.58. Spotify Technology S.A. has a 12-month low of $159.75 and a 12-month high of $389.48. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $357.03 and its 200 day moving average price is $326.04.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Rosenblatt Securities raised their price objective on shares of Spotify Technology from $399.00 to $438.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group reaffirmed a “buy” rating and set a $385.00 price objective (up previously from $242.00) on shares of Spotify Technology in a research report on Thursday, July 11th. Guggenheim lifted their price target on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Barclays lifted their price target on shares of Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $376.21.

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.