Parkside Financial Bank & Trust Lowers Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Parkside Financial Bank & Trust trimmed its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 31.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 307 shares of the company’s stock after selling 139 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Spotify Technology were worth $137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new position in Spotify Technology during the 4th quarter valued at about $233,000. Proficio Capital Partners LLC acquired a new stake in Spotify Technology in the 4th quarter valued at about $125,694,000. Oppenheimer Asset Management Inc. raised its position in Spotify Technology by 110.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,321 shares of the company’s stock valued at $3,275,000 after purchasing an additional 3,848 shares in the last quarter. Kovack Advisors Inc. acquired a new stake in Spotify Technology in the 4th quarter valued at about $214,000. Finally, WT Wealth Management raised its position in Spotify Technology by 2.8% in the 4th quarter. WT Wealth Management now owns 4,965 shares of the company’s stock valued at $2,221,000 after purchasing an additional 135 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of analyst reports. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Macquarie increased their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft increased their price target on Spotify Technology from $430.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Morgan Stanley increased their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group increased their price target on Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $529.43.

Spotify Technology Trading Up 2.9 %

Shares of SPOT stock opened at $608.16 on Friday. The business’s 50 day moving average is $536.90 and its two-hundred day moving average is $445.69. Spotify Technology S.A. has a twelve month low of $249.58 and a twelve month high of $652.63. The company has a market capitalization of $121.06 billion, a P/E ratio of 102.21 and a beta of 1.63.

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.