Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 0.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,394 shares of the company’s stock after selling 50 shares during the period. Sanctuary Advisors LLC’s holdings in Spotify Technology were worth $6,887,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology during the third quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter worth $33,000. Larson Financial Group LLC boosted its holdings 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 valued at $36,000 after acquiring an additional 33 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares during the period. Finally, Quent Capital LLC raised its holdings in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of several recent analyst reports. TD Cowen boosted their target price on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Bank of America boosted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Pivotal Research upped their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $641.78 on Thursday. The firm’s 50 day moving average price is $517.95 and its 200 day moving average price is $432.35. The firm has a market cap of $127.75 billion, a P/E ratio of 107.86 and a beta of 1.63. Spotify Technology S.A. has a 1 year low of $239.66 and a 1 year high of $652.63.

About Spotify Technology

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.