Analyzing the Market Sentiment for Spotify Technology (SPOT) Shares

This afternoon we watched Spotify Technology drop -3.5% to a price of $308.21 per share. The Large-Cap Broadcasting company is now trading -10.3% below its average target price of $343.59. Analysts have set target prices ranging from $210.41 to $405.78 per share for Spotify Technology, and have given the stock an average rating of buy.

The stock has an average amount of shares sold short at 2.3%, and a short ratio of 1.08. The company's insiders own 26.32% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 61.6% of Spotify Technology's shares being owned by this investor type.

Institutions Invested in Spotify Technology

Date Reported Holder Percentage Shares Value
2024-03-31 Baillie Gifford and Company 11% 21,462,079 $6,614,827,185
2024-03-31 Morgan Stanley 4% 7,533,162 $2,321,795,795
2024-03-31 Price (T.Rowe) Associates Inc 3% 5,842,796 $1,800,808,105
2024-03-31 Blackrock Inc. 3% 5,521,009 $1,701,630,136
2024-03-31 Wellington Management Group, LLP 3% 4,849,969 $1,494,808,904
2024-03-31 T. Rowe Price Investment Management, Inc. 2% 4,491,406 $1,384,296,204
2024-03-31 Massachusetts Financial Services Co. 2% 3,381,093 $1,042,086,644
2024-03-31 JP Morgan Chase & Company 1% 2,740,202 $844,557,635
2024-03-31 Arrowstreet Capital, Limited Partnership 1% 2,433,348 $749,982,166
2024-03-31 GQG Partners LLC 1% 2,311,633 $712,468,387

Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Spotify Technology.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.