Bulletin
Investor Alert

New York Markets Open in:

Market Pulse Archives

Jan. 22, 2020, 9:45 a.m. EST

Spotify's stock gets a lift after Ballie Gifford boosts stake to become largest shareholder

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Spotify Technology S.A. (SPOT)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of Spotify Technology S.A. /zigman2/quotes/207488629/composite SPOT -2.43% gained 0.3% in morning trading Wednesday, after Scotland-based investment manager Ballie Gifford & Co. boosted its stake in the Luxembourg-based streaming music company by enough to make Ballie Gifford the largest shareholder. Ballie disclosed in a 13G/A filing with the Securities and Exchange Commission that it now owns 21.7 million shares, or 11.82% of the shares outstanding, up from 19.1 million shares, or 10.41% of the shares outstanding as of Sept. 30. That lifts Ballie above the previous largest shareholder, Co-Founder Martin Lorentzon, who owned 11.59% of the shares outstanding, according to FactSet. Spotify's stock has run up 26.6% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.03% has gained 11.3%.

/zigman2/quotes/207488629/composite
US : U.S.: NYSE
$ 141.80
-3.53 -2.43%
Volume: 2.05M
Feb. 25, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$25.69 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,128.21
-97.68 -3.03%
Volume: 3.13B
Feb. 25, 2020 4:59p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.