Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lessened its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 18.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,614 shares of the company’s stock after selling 839 shares during the period. Mission Wealth Management LP’s holdings in Spotify Technology were worth $1,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the period. Quent Capital LLC boosted its holdings in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $599.01 on Tuesday. The firm has a market capitalization of $119.24 billion, a PE ratio of 100.67 and a beta of 1.63. Spotify Technology S.A. has a one year low of $249.58 and a one year high of $652.63. The stock’s 50 day moving average price is $539.75 and its 200 day moving average price is $448.32.

Analysts Set New Price Targets

SPOT has been the topic of a number of research reports. Canaccord Genuity Group upped their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. UBS Group upped their target price on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $529.43.

About Spotify Technology

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.