L & S Advisors Inc Decreases Stake in Spotify Technology S.A. (NYSE:SPOT)

L & S Advisors Inc lessened its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,883 shares of the company’s stock after selling 556 shares during the period. L & S Advisors Inc’s holdings in Spotify Technology were worth $1,737,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Auxano Advisors LLC raised its holdings in shares of Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares in the last quarter. First Horizon Advisors Inc. increased its position in Spotify Technology by 5.4% during the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock worth $225,000 after purchasing an additional 26 shares in the last quarter. Harbour Investments Inc. raised its stake in Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after purchasing an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its holdings in Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Benchmark increased their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company raised their price objective on Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Redburn Atlantic initiated coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $552.47.

Spotify Technology Trading Down 3.5 %

NYSE SPOT opened at $559.76 on Friday. The company’s fifty day simple moving average is $578.28 and its 200-day simple moving average is $478.17. The stock has a market cap of $114.59 billion, a P/E ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $260.80 and a 52 week high of $652.63.

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.