Dana Investment Advisors Inc. Sells 69 Shares of Spotify Technology S.A. (NYSE:SPOT)

Dana Investment Advisors Inc. decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,375 shares of the company’s stock after selling 69 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Spotify Technology were worth $615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SPOT. Jennison Associates LLC bought a new position in shares of Spotify Technology during the 4th quarter worth $1,335,575,000. Forsta AP Fonden bought a new position in Spotify Technology in the 4th quarter worth about $619,600,000. WCM Investment Management LLC boosted its stake in Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the period. FMR LLC boosted its stake in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after purchasing an additional 297,035 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in Spotify Technology in the 4th quarter worth about $125,694,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 2.3 %

Shares of NYSE SPOT opened at $531.15 on Friday. The stock has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63. The stock’s 50-day moving average is $547.82 and its 200 day moving average is $453.67.

Wall Street Analyst Weigh In

SPOT has been the subject of several analyst reports. Pivotal Research raised their target price on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Wells Fargo & Company raised their target price on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Phillip Securities restated an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. Macquarie raised their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price target on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $529.43.

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.