Sei Investments Co. Lowers Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Sei Investments Co. reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 683,799 shares of the company's stock after selling 30,398 shares during the period. Sei Investments Co. owned about 0.34% of Spotify Technology worth $305,913,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Auxano Advisors LLC boosted its stake in shares of Spotify Technology by 2.5% during the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. grew its stake in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after acquiring an additional 25 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock valued at $176,000 after acquiring an additional 26 shares in the last quarter. Harbour Investments Inc. boosted its holdings in shares of Spotify Technology by 13.3% in the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company's stock valued at $99,000 after purchasing an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its holdings in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

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Spotify Technology Stock Up 2.2 %

Shares of NYSE:SPOT traded up $13.11 during midday trading on Tuesday, reaching $617.82. The company's stock had a trading volume of 715,740 shares, compared to its average volume of 2,106,639. The firm has a market capitalization of $126.47 billion, a PE ratio of 103.83 and a beta of 1.66. The stock has a fifty day moving average of $570.20 and a 200 day moving average of $471.97. Spotify Technology S.A. has a twelve month low of $257.56 and a twelve month high of $652.63.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a report on Wednesday, February 5th. UBS Group increased their target price on Spotify Technology from $485.00 to $540.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Benchmark boosted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research report on Wednesday, February 5th. Macquarie raised their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of Spotify Technology in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. According to data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $540.68.

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.