Spotify Technology surged to $451.24 per share this morning, but it remains 12.11% above its mean target price of $402.5. There may still be room for more downwards movement — even after today's 7.6% drop. Analysts are giving the Large-Cap Broadcasting stock on average rating of buy, with target prices ranging from $244.92 to $509.82 per share.
The stock has an average amount of shares sold short at 3.0%, and a short ratio of 2.86. The company's insiders own 25.99% 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 62.5% of Spotify Technology's shares being owned by this investor type.
Institutions Invested in Spotify Technology
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-09-30 | Baillie Gifford and Company | 8% | 15,570,335 | $7,022,222,510 |
| 2024-06-30 | Morgan Stanley | 4% | 8,235,875 | $3,714,380,379 |
| 2024-06-30 | Price (T.Rowe) Associates Inc | 3% | 5,583,241 | $2,518,042,202 |
| 2024-06-30 | Wellington Management Group, LLP | 2% | 4,727,399 | $2,132,057,381 |
| 2024-09-30 | JP Morgan Chase & Company | 2% | 4,395,085 | $1,982,183,737 |
| 2024-06-30 | Blackrock Inc. | 2% | 4,246,203 | $1,915,037,941 |
| 2024-09-30 | WCM Investment Management, LLC | 2% | 3,873,625 | $1,747,005,229 |
| 2024-09-30 | Massachusetts Financial Services Co. | 2% | 3,492,170 | $1,574,968,989 |
| 2024-06-30 | Arrowstreet Capital, Limited Partnership | 1% | 2,219,860 | $1,001,157,063 |
| 2024-06-30 | T. Rowe Price Investment Management, Inc. | 1% | 2,067,673 | $932,520,712 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Spotify Technology.
