Spotify Technology S.A. (NYSE:SPOT) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its position in Spotify Technology S.A. (NYSE:SPOT) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,003 shares of the company’s stock after selling 216 shares during the quarter. TD Private Client Wealth LLC’s holdings in Spotify Technology were worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its stake in Spotify Technology by 38.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,074 shares of the company’s stock valued at $396,000 after acquiring an additional 301 shares during the last quarter. Pathstone Holdings LLC boosted its stake in Spotify Technology by 16.9% during the 3rd quarter. Pathstone Holdings LLC now owns 24,258 shares of the company’s stock valued at $8,940,000 after acquiring an additional 3,515 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Spotify Technology by 12.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after acquiring an additional 1,299 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares during the period. Finally, Commerce Bank boosted its holdings in shares of Spotify Technology by 405.3% in the 3rd quarter. Commerce Bank now owns 11,769 shares of the company’s stock valued at $4,337,000 after buying an additional 9,440 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT opened at $599.64 on Friday. The company’s 50 day moving average price is $567.23 and its 200 day moving average price is $468.06. Spotify Technology S.A. has a 52 week low of $257.56 and a 52 week high of $652.63. The company has a market capitalization of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66.

Analysts Set New Price Targets

Several research firms have recently commented on SPOT. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. The Goldman Sachs Group lifted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Finally, Benchmark lifted their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $540.68.

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.