Zions Bancorporation N.A. Sells 230 Shares of Spotify Technology S.A. (NYSE:SPOT)

Zions Bancorporation N.A. reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 19.7% during the fourth quarter, HoldingsChannel reports. The firm owned 940 shares of the company’s stock after selling 230 shares during the period. Zions Bancorporation N.A.’s holdings in Spotify Technology were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. TD Asset Management Inc. boosted its holdings in shares of Spotify Technology by 3.9% during the 4th quarter. TD Asset Management Inc. now owns 252,714 shares of the company’s stock valued at $113,059,000 after acquiring an additional 9,472 shares during the last quarter. GQG Partners LLC bought a new position in Spotify Technology during the fourth quarter valued at approximately $800,725,000. Zevenbergen Capital Investments LLC boosted its holdings in Spotify Technology by 3.9% in the fourth quarter. Zevenbergen Capital Investments LLC now owns 165,331 shares of the company’s stock worth $73,966,000 after purchasing an additional 6,140 shares during the last quarter. Prudential Financial Inc. grew its position in Spotify Technology by 128.3% in the 4th quarter. Prudential Financial Inc. now owns 13,676 shares of the company’s stock worth $6,118,000 after purchasing an additional 7,685 shares during the period. Finally, Interchange Capital Partners LLC purchased a new stake in Spotify Technology during the 4th quarter valued at $243,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SPOT shares. Redburn Atlantic assumed coverage on Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target on the stock. Citigroup raised their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. UBS Group upped their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. The Goldman Sachs Group raised their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Macquarie upped their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $547.55.

Spotify Technology Stock Performance

SPOT stock opened at $576.86 on Thursday. The company has a market capitalization of $118.09 billion, a PE ratio of 96.95 and a beta of 1.66. The company’s fifty day moving average price is $575.00 and its 200-day moving average price is $474.75. Spotify Technology S.A. has a one year low of $257.56 and a one year 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.