After this afternoon's 3.4% surge to $479.73 per share, Spotify Technology might just keep moving past its target price of $476.75. With an average analyst rating of buy, and target prices from $230.8159 to $600.55524, the stock's next move is anyone's guess.
The stock has an average amount of shares sold short at 6.7%, and a short ratio of 2.11. 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 65.5% 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 | $7,469,556,980 |
| 2024-09-30 | Morgan Stanley | 3% | 6,722,887 | $3,225,170,654 |
| 2024-09-30 | JP Morgan Chase & Company | 2% | 4,395,085 | $2,108,454,175 |
| 2024-09-30 | Price (T.Rowe) Associates Inc | 2% | 4,104,102 | $1,968,860,897 |
| 2024-09-30 | Wellington Management Group, LLP | 2% | 4,070,982 | $1,952,972,239 |
| 2024-09-30 | Blackrock Inc. | 2% | 4,010,204 | $1,923,815,208 |
| 2024-09-30 | WCM Investment Management, LLC | 2% | 3,873,625 | $1,858,294,163 |
| 2024-09-30 | Massachusetts Financial Services Co. | 2% | 3,492,170 | $1,675,298,752 |
| 2024-09-30 | Millennium Management Llc | 1% | 2,801,539 | $1,343,982,335 |
| 2024-09-30 | Viking Global Investors, L.P. | 1% | 2,577,629 | $1,236,565,988 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Spotify Technology.
