L & S Advisors Inc decreased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,883 shares of the company's stock after selling 556 shares during the period. L & S Advisors Inc's holdings in Spotify Technology were worth $1,737,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $27,000. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at about $33,000. Larson Financial Group LLC raised its position in shares of Spotify Technology by 51.6% during 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 period. Finally, Quent Capital LLC grew its position in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company's stock worth $44,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.
Spotify Technology Stock Performance
Shares of NYSE SPOT traded down $4.79 during trading on Thursday, reaching $560.62. The stock had a trading volume of 1,217,215 shares, compared to its average volume of 2,159,796. The firm's 50 day moving average price is $582.30 and its two-hundred day moving average price is $482.76. Spotify Technology S.A. has a one year low of $267.76 and a one year high of $652.63. The stock has a market cap of $114.76 billion, a PE ratio of 94.22 and a beta of 1.66.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SPOT. Benchmark boosted their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Cantor Fitzgerald restated a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target on the stock. Citigroup upped their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Finally, Morgan Stanley upped their price target on Spotify Technology from $550.00 to $670.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $557.47.
Get Our Latest Stock Analysis on SPOT
About Spotify Technology
(
Free Report)
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.
Read More
Before you consider Spotify Technology, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Spotify Technology wasn't on the list.
While Spotify Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
