Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its position in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,260 shares of the company's stock after selling 905 shares during the period. Vontobel Holding Ltd.'s holdings in Spotify Technology were worth $7,274,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SPOT. Creative Planning raised its stake in Spotify Technology by 1.9% during the third quarter. Creative Planning now owns 6,351 shares of the company's stock worth $2,341,000 after purchasing an additional 118 shares during the period. NBC Securities Inc. increased its position in shares of Spotify Technology by 864.0% during the third quarter. NBC Securities Inc. now owns 482 shares of the company's stock valued at $177,000 after acquiring an additional 432 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Spotify Technology by 5.7% during the third quarter. Global Retirement Partners LLC now owns 3,940 shares of the company's stock valued at $1,452,000 after acquiring an additional 214 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Spotify Technology by 14.1% during the third quarter. Bleakley Financial Group LLC now owns 2,115 shares of the company's stock valued at $779,000 after acquiring an additional 261 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Spotify Technology during the third quarter valued at about $40,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research report on Wednesday, February 5th. Barclays lifted their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a research report on Wednesday, February 5th. Pivotal Research lifted their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Bank of America lifted their price target on shares of Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, TD Cowen lifted their price objective on shares of Spotify Technology from $356.00 to $416.00 and gave the company a "hold" rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $529.43.

Spotify Technology Trading Up 1.8 %

SPOT stock traded up $11.22 on Wednesday, hitting $641.78. The company's stock had a trading volume of 1,471,955 shares, compared to its average volume of 2,064,263. The firm has a 50 day moving average of $514.65 and a two-hundred day moving average of $430.88. Spotify Technology S.A. has a 1 year low of $239.66 and a 1 year high of $652.63. The stock has a market cap of $127.75 billion, a price-to-earnings ratio of 107.86 and a beta of 1.63.

Spotify Technology 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.