Cerity Partners LLC Cuts Stake in Spotify Technology S.A. (NYSE:SPOT)

Cerity Partners LLC cut its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,909 shares of the company's stock after selling 1,412 shares during the period. Cerity Partners LLC's holdings in Spotify Technology were worth $14,044,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SPOT. Integrated Wealth Concepts LLC increased its stake in Spotify Technology by 5.6% in the third quarter. Integrated Wealth Concepts LLC now owns 1,743 shares of the company's stock valued at $642,000 after acquiring an additional 93 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Spotify Technology by 25.3% in the third quarter. EP Wealth Advisors LLC now owns 858 shares of the company's stock valued at $316,000 after buying an additional 173 shares during the period. National Bank of Canada FI boosted its stake in Spotify Technology by 1,001.0% during the third quarter. National Bank of Canada FI now owns 27,404 shares of the company's stock worth $10,099,000 after acquiring an additional 24,915 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Spotify Technology by 31.9% during the third quarter. Orion Portfolio Solutions LLC now owns 3,332 shares of the company's stock valued at $1,228,000 after purchasing an additional 806 shares during the period. Finally, MML Investors Services LLC raised its stake in Spotify Technology by 2.5% during the 3rd quarter. MML Investors Services LLC now owns 12,014 shares of the company's stock worth $4,428,000 after buying an additional 296 shares during the period. 84.09% of the stock is owned by institutional investors.

Remove Ads

Spotify Technology Trading Up 4.5 %

Shares of Spotify Technology stock traded up $24.47 on Tuesday, hitting $573.64. 1,240,186 shares of the company traded hands, compared to its average volume of 2,177,911. Spotify Technology S.A. has a 12-month low of $267.76 and a 12-month high of $652.63. The company has a market cap of $117.43 billion, a P/E ratio of 96.51 and a beta of 1.75. The firm's 50-day simple moving average is $580.24 and its 200 day simple moving average is $495.06.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Wolfe Research reaffirmed a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Redburn Atlantic began coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They set a "neutral" rating and a $545.00 price target on the stock. Finally, China Renaissance began coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price objective for the company. Nine analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. According to MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $555.30.

About Spotify Technology

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.