Avity Investment Management Inc. lessened its holdings in Spotify Technology S.A. (NYSE:SPOT – Free Report) by 11.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,150 shares of the company’s stock after selling 150 shares during the period. Avity Investment Management Inc.’s holdings in Spotify Technology were worth $303,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of SPOT. Pinnacle Bancorp Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter valued at about $29,000. GAMMA Investing LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $32,000. Lindbrook Capital LLC lifted its stake in shares of Spotify Technology by 32.3% during the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company’s stock valued at $39,000 after buying an additional 50 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Spotify Technology during the first quarter valued at approximately $40,000. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Spotify Technology by 2,540.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 264 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.
Spotify Technology Trading Down 0.5 %
NYSE:SPOT traded down $1.59 during mid-day trading on Friday, hitting $313.79. The stock had a trading volume of 4,934,951 shares, compared to its average volume of 1,589,788. The company has a 50 day simple moving average of $303.83 and a 200-day simple moving average of $260.45. Spotify Technology S.A. has a 52 week low of $129.23 and a 52 week high of $331.08.
Analysts Set New Price Targets
SPOT has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Spotify Technology from $270.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup upped their price target on shares of Spotify Technology from $255.00 to $310.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. Pivotal Research increased their price objective on shares of Spotify Technology from $390.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. KeyCorp increased their price objective on shares of Spotify Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, HSBC increased their price objective on shares of Spotify Technology from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $311.48.
Read Our Latest Stock Analysis on Spotify Technology
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.
Recommended Stories
- Five stocks we like better than Spotify Technology
- Where to Find Earnings Call Transcripts
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- How to invest in blue chip stocks
- MarketBeat Week in Review – 6/24 – 6/28
- How to Calculate Retirement Income: MarketBeat’s Calculator
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Receive News & Ratings for Spotify Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spotify Technology and related companies with MarketBeat.com's FREE daily email newsletter.