Spotify Technology S.A. (NYSE:SPOT) Holdings Cut by National Bank of Canada FI

National Bank of Canada FI lessened its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 91.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,470 shares of the company's stock after selling 24,934 shares during the quarter. National Bank of Canada FI's holdings in Spotify Technology were worth $1,105,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its position in Spotify Technology by 566.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock worth $3,541,000 after acquiring an additional 6,782 shares during the last quarter. Jennison Associates LLC purchased a new stake in Spotify Technology in the 4th quarter valued at approximately $1,335,575,000. Marks Group Wealth Management Inc purchased a new stake in Spotify Technology in the 4th quarter valued at approximately $535,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Spotify Technology during the fourth quarter worth $214,000. Finally, Swedbank AB raised its holdings in shares of Spotify Technology by 20.9% in the fourth quarter. Swedbank AB now owns 946,129 shares of the company's stock worth $423,279,000 after acquiring an additional 163,626 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of analyst reports. China Renaissance began coverage on Spotify Technology in a research note on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective on the stock. Wells Fargo & Company lifted their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Macquarie upped their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. KeyCorp lowered their target price on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Benchmark increased their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $555.30.

Spotify Technology Stock Performance

Shares of SPOT stock traded up $25.64 during mid-day trading on Tuesday, reaching $574.81. 1,014,772 shares of the company were exchanged, compared to its average volume of 2,177,134. The company has a market capitalization of $117.67 billion, a P/E 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 business's 50 day simple moving average is $580.24 and its 200 day simple moving average is $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.