Comgest Global Investors S.A.S. Sells 32,735 Shares of Spotify Technology S.A. (NYSE:SPOT)

Comgest Global Investors S.A.S. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 41.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,563 shares of the company’s stock after selling 32,735 shares during the period. Comgest Global Investors S.A.S.’s holdings in Spotify Technology were worth $17,160,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SPOT. GQG Partners LLC bought a new position in shares of Spotify Technology during the first quarter valued at approximately $610,040,000. Swedbank AB bought a new stake in shares of Spotify Technology during the first quarter valued at approximately $198,663,000. WCM Investment Management LLC increased its position in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after acquiring an additional 605,755 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after acquiring an additional 346,585 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock valued at $202,828,000 after acquiring an additional 333,782 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPOT shares. Macquarie raised their price target on shares of Spotify Technology from $395.00 to $500.00 and gave the company an “outperform” rating in a research report on Wednesday. Benchmark raised their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays raised their price target on shares of Spotify Technology from $385.00 to $475.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $421.69.

Spotify Technology Trading Down 4.0 %

NYSE:SPOT traded down $19.18 during mid-day trading on Friday, hitting $458.32. 3,024,154 shares of the stock traded hands, compared to its average volume of 1,936,045. The stock has a market capitalization of $91.23 billion, a price-to-earnings ratio of 124.59 and a beta of 1.56. Spotify Technology S.A. has a 52 week low of $170.62 and a 52 week high of $489.69. The firm’s 50 day moving average is $378.15 and its two-hundred day moving average is $337.83. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31.

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.