Investmentaktiengesellschaft Fuer Langfristige Investoren TGV Sells 1,450 Shares of Spotify Technology S.A. (NYSE:SPOT)

Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lessened its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,800 shares of the company’s stock after selling 1,450 shares during the period. Spotify Technology comprises approximately 0.2% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s investment portfolio, making the stock its 16th biggest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings in Spotify Technology were worth $3,072,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SPOT. Prestige Wealth Management Group LLC purchased a new stake in Spotify Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology during the third quarter valued at $33,000. Larson Financial Group LLC increased its stake in 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 buying an additional 33 shares during the period. Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares in the last quarter. Finally, Rakuten Securities Inc. boosted its position in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the period. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SPOT. Citigroup raised their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Bank of America lifted their target price on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. UBS Group lifted their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $606.98 on Friday. Spotify Technology S.A. has a fifty-two week low of $243.99 and a fifty-two week high of $652.63. The company has a market cap of $120.82 billion, a P/E ratio of 102.01 and a beta of 1.63. The firm has a 50-day simple moving average of $523.55 and a two-hundred day simple moving average of $436.50.

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.