Telemus Capital LLC trimmed its stake in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 19.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,122 shares of the company’s stock after selling 500 shares during the quarter. Telemus Capital LLC’s holdings in Spotify Technology were worth $399,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Pinnacle Bancorp Inc. bought a new stake in shares of Spotify Technology during the 4th quarter worth $29,000. First Horizon Advisors Inc. lifted its position in shares of Spotify Technology by 195.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 177 shares of the company’s stock worth $27,000 after buying an additional 117 shares during the last quarter. Lindbrook Capital LLC lifted its position in shares of Spotify Technology by 32.3% during the 4th quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its position in shares of Spotify Technology by 2,540.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the last quarter. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth $43,000. 84.09% of the stock is currently owned by institutional investors.
Spotify Technology Stock Performance
Shares of Spotify Technology stock opened at $272.33 on Tuesday. Spotify Technology S.A. has a one year low of $128.67 and a one year high of $313.16. The stock’s 50-day moving average is $267.69 and its 200 day moving average is $215.78.
Analyst Ratings Changes
Several analysts recently weighed in on the company. Barclays upped their price objective on Spotify Technology from $270.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on Spotify Technology from $250.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Loop Capital upped their price objective on Spotify Technology from $165.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday. Bank of America upped their target price on Spotify Technology from $265.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, UBS Group upped their target price on Spotify Technology from $274.00 to $375.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.19.
View Our Latest Report on SPOT
Spotify Technology Company 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.
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