Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 73.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,246 shares of the company’s stock after selling 9,079 shares during the quarter. Employees Retirement System of Texas’ holdings in Spotify Technology were worth $1,452,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Prestige Wealth Management Group LLC acquired a new stake in shares of Spotify Technology during the 3rd quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new stake in Spotify Technology in the fourth quarter worth $27,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the third quarter valued at $33,000. Quent Capital LLC lifted its stake in Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology during the fourth quarter worth about $52,000. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SPOT. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Benchmark increased their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. FBN Securities began coverage on Spotify Technology in a research note on Friday, March 28th. They set a “sector perform” rating and a $645.00 target price on the stock. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $557.47.

Spotify Technology Stock Up 2.8 %

NYSE:SPOT opened at $517.15 on Tuesday. The stock has a fifty day simple moving average of $583.36 and a 200 day simple moving average of $487.52. The firm has a market capitalization of $105.86 billion, a price-to-earnings ratio of 86.92 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $267.76 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.