Spotify Technology S.A. (NYSE:SPOT) Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 29.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,315 shares of the company’s stock after selling 11,148 shares during the period. TIAA Trust National Association’s holdings in Spotify Technology were worth $11,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Intech Investment Management LLC raised its position in Spotify Technology by 57.0% during the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock worth $626,000 after acquiring an additional 617 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Spotify Technology by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,125 shares of the company’s stock worth $783,000 after purchasing an additional 87 shares during the last quarter. Cerity Partners LLC raised its position in shares of Spotify Technology by 11.8% during the 3rd quarter. Cerity Partners LLC now owns 33,321 shares of the company’s stock worth $12,280,000 after purchasing an additional 3,524 shares during the last quarter. Larson Financial Group LLC lifted its stake in Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Spotify Technology by 7.5% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,425 shares of the company’s stock worth $894,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several research reports. KeyCorp raised their target price on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their price objective on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. UBS Group boosted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley increased their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $540.68.

Spotify Technology Stock Performance

Spotify Technology stock opened at $615.84 on Wednesday. The company has a market capitalization of $126.07 billion, a PE ratio of 103.50 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63. The firm has a 50 day moving average price of $573.25 and a 200 day moving average price of $474.03.

Spotify Technology 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.