Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in Spotify Technology S.A. (NYSE:SPOT) by 2.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 83,676 shares of the company’s stock after selling 2,237 shares during the quarter. Handelsbanken Fonder AB’s holdings in Spotify Technology were worth $37,435,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in Spotify Technology in the 3rd quarter valued at about $33,000. Larson Financial Group LLC lifted its holdings in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Phillip Securities restated an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Piper Sandler lifted their price objective on Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Pivotal Research increased their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Down 1.0 %

Shares of NYSE SPOT opened at $636.52 on Friday. The stock has a market capitalization of $126.70 billion, a P/E ratio of 106.98 and a beta of 1.63. The firm’s 50-day moving average price is $521.07 and its two-hundred day moving average price is $433.77. Spotify Technology S.A. has a 52-week low of $240.73 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.