Bradley Foster & Sargent Inc. CT Sells 190 Shares of Spotify Technology S.A. (NYSE:SPOT)

Bradley Foster & Sargent Inc. CT lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,074 shares of the company’s stock after selling 190 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Spotify Technology were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. WCM Investment Management LLC raised its holdings in shares of Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock valued at $1,430,142,000 after purchasing an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA grew its position in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares in the last quarter. Jennison Associates LLC bought a new stake in Spotify Technology in the 4th quarter worth about $1,335,575,000. State Street Corp grew its position in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after acquiring an additional 28,864 shares during the period. Finally, FMR LLC increased its position in Spotify Technology by 23.4% in the third quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SPOT. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. TD Cowen boosted their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. Guggenheim boosted their price target on shares of Spotify Technology from $520.00 to $675.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley boosted their price target on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Down 4.7 %

NYSE:SPOT opened at $606.98 on Friday. The stock’s 50 day moving average price is $523.55 and its 200 day moving average price is $436.50. The company has a market capitalization of $120.82 billion, a PE ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a 52-week low of $243.99 and a 52-week high of $652.63.

Spotify Technology 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.