Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,140 shares of the company's stock after selling 1,873 shares during the quarter. Corient Private Wealth LLC's holdings in Spotify Technology were worth $10,412,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the third quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the third quarter worth $33,000. Larson Financial Group LLC lifted its position in shares of Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company's stock worth $36,000 after purchasing an additional 33 shares during the last quarter. Quent Capital LLC lifted its position 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 purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Spotify Technology during the fourth quarter worth $52,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Up 0.9 %

Shares of SPOT stock traded up $5.09 during trading hours on Friday, reaching $599.64. 2,543,337 shares of the company's stock were exchanged, compared to its average volume of 2,107,412. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The stock has a market cap of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66. The stock's fifty day moving average price is $567.23 and its two-hundred day moving average price is $469.03.

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Analyst Ratings Changes

Several analysts recently weighed in on SPOT shares. Canaccord Genuity Group lifted their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a report on Wednesday, February 5th. Macquarie lifted their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wells Fargo & Company lifted their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus price target of $540.68.

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.