EFG Asset Management North America Corp. Sells 3,031 Shares of Spotify Technology S.A. (NYSE:SPOT)

EFG Asset Management North America Corp. lessened its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 26.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,517 shares of the company's stock after selling 3,031 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Spotify Technology were worth $3,808,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology in the 4th quarter worth $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Spotify Technology during the third quarter worth about $33,000. Larson Financial Group LLC raised its position in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company's stock valued at $36,000 after buying an additional 33 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company's stock valued at $44,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT stock traded down $15.59 during trading on Friday, hitting $564.63. The company had a trading volume of 850,285 shares, compared to its average volume of 2,149,885. The firm has a market capitalization of $115.58 billion, a P/E ratio of 94.74 and a beta of 1.66. Spotify Technology S.A. has a one year low of $258.00 and a one year high of $652.63. The stock's 50-day moving average price is $576.80 and its 200 day moving average price is $475.48.

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Wall Street Analyst Weigh In

SPOT has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the company an "overweight" rating in a report on Friday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Wolfe Research restated a "peer perform" rating on shares of Spotify Technology in a research note on Friday, January 17th. Guggenheim reaffirmed a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $552.47.

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.