DCF Advisers LLC Sells 1,165 Shares of Spotify Technology S.A. (NYSE:SPOT)

DCF Advisers LLC lowered its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 36.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the company's stock after selling 1,165 shares during the quarter. DCF Advisers LLC's holdings in Spotify Technology were worth $895,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the third quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth approximately $33,000. Larson Financial Group LLC raised its holdings in shares of 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 purchasing an additional 33 shares in the last quarter. Quent Capital LLC lifted its stake in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology during the fourth quarter worth approximately $52,000. Institutional investors own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research reports. Benchmark raised their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. KeyCorp boosted their price objective on Spotify Technology from $555.00 to $600.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Redburn Atlantic initiated coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They issued a "neutral" rating and a $545.00 target price for the company. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $540.68.

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Spotify Technology Trading Up 1.8 %

NYSE SPOT traded up $11.13 during trading on Tuesday, reaching $615.84. The company's stock had a trading volume of 1,571,942 shares, compared to its average volume of 2,106,639. The stock has a market capitalization of $126.07 billion, a PE ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $257.56 and a 1-year high of $652.63. The business has a 50-day moving average price of $570.20 and a 200-day moving average price of $471.97.

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.