Legacy Capital Group California Inc. Sells 186 Shares of Spotify Technology S.A. (NYSE:SPOT)

Legacy Capital Group California Inc. trimmed its position in Spotify Technology S.A. (NYSE:SPOT) by 2.5% during the 4th quarter, HoldingsChannel reports. The firm owned 7,116 shares of the company’s stock after selling 186 shares during the period. Spotify Technology comprises about 1.0% of Legacy Capital Group California Inc.’s investment portfolio, making the stock its 12th biggest position. Legacy Capital Group California Inc.’s holdings in Spotify Technology were worth $3,184,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC bought a new position in Spotify Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in Spotify Technology in the third quarter worth about $33,000. Larson Financial Group LLC raised its stake in shares of Spotify Technology by 51.6% in 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 period. Rakuten Securities Inc. raised its stake in shares of Spotify Technology by 40.5% in the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares during the period. Finally, Quent Capital LLC lifted its position in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Rosenblatt Securities reissued a “neutral” rating and issued a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Piper Sandler raised their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 target price (up previously from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Finally, Macquarie raised their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Down 1.0 %

Shares of NYSE:SPOT opened at $636.52 on Friday. The firm has a fifty day simple moving average of $521.07 and a two-hundred day simple moving average of $433.77. The stock has a market capitalization of $126.70 billion, a P/E ratio of 106.98 and a beta of 1.63. Spotify Technology S.A. has a 52 week low of $240.73 and a 52 week high of $652.63.

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.