Montag A & Associates Inc. Sells 1,230 Shares of Spotify Technology S.A. (NYSE:SPOT)

Montag A & Associates Inc. trimmed its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 31.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,666 shares of the company's stock after selling 1,230 shares during the quarter. Montag A & Associates Inc.'s holdings in Spotify Technology were worth $1,193,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Prestige Wealth Management Group LLC acquired a new position in shares of Spotify Technology during the third quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC raised its holdings in 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 buying an additional 33 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Spotify Technology in the third quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its holdings in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company's stock valued at $41,000 after buying an additional 32 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 1.0 %

Shares of Spotify Technology stock traded down $6.21 on Thursday, reaching $636.52. The stock had a trading volume of 1,906,338 shares, compared to its average volume of 2,059,554. The business's 50 day moving average is $517.95 and its two-hundred day moving average is $432.35. Spotify Technology S.A. has a 1 year low of $240.73 and a 1 year high of $652.63. The company has a market cap of $126.70 billion, a P/E ratio of 106.98 and a beta of 1.63.

Analyst Ratings Changes

Several brokerages recently issued reports on SPOT. Bank of America upped their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. TD Cowen raised their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Finally, Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $529.43.

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.