Truxt Investmentos Ltda. Sells 2,514 Shares of Spotify Technology S.A. (NYSE:SPOT)

Truxt Investmentos Ltda. decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 30.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,696 shares of the company’s stock after selling 2,514 shares during the period. Spotify Technology comprises about 4.2% of Truxt Investmentos Ltda.’s investment portfolio, making the stock its 10th biggest holding. Truxt Investmentos Ltda.’s holdings in Spotify Technology were worth $2,573,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the 3rd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology during the third quarter worth approximately $33,000. Larson Financial Group LLC grew its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Rakuten Securities Inc. increased its stake in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares during the period. Finally, Quent Capital LLC lifted its position in Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after buying an additional 57 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Up 1.8 %

SPOT opened at $641.78 on Thursday. The business has a 50 day moving average of $517.95 and a 200-day moving average of $432.35. The stock has a market capitalization of $127.75 billion, a price-to-earnings 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SPOT shares. Morgan Stanley boosted their price target 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. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. UBS Group raised their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Finally, KeyCorp raised their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

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.