Spotify Technology S.A. (NYSE:SPOT) Stake Reduced by F M Investments LLC

F M Investments LLC cut its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 15.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,669 shares of the company's stock after selling 2,394 shares during the period. F M Investments LLC's holdings in Spotify Technology were worth $5,668,000 at the end of the most recent reporting period.

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

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Analyst Ratings Changes

SPOT has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Spotify Technology from $690.00 to $680.00 and set a "buy" rating on the stock in a report on Tuesday. Guggenheim restated a "buy" rating and issued a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. China Renaissance assumed coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. The Goldman Sachs Group upped their price objective on Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Finally, Macquarie lifted their target price on Spotify Technology from $500.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $554.97.

Spotify Technology Price Performance

Shares of NYSE SPOT traded up $24.76 during mid-day trading on Tuesday, reaching $573.93. 1,450,402 shares of the company traded hands, compared to its average volume of 2,178,792. The firm has a market cap of $117.49 billion, a PE ratio of 96.46 and a beta of 1.75. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The stock has a fifty day simple moving average of $580.24 and a 200-day simple moving average of $495.06.

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.