Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Okabena Investment Services Inc.

Okabena Investment Services Inc. decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 9.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,617 shares of the company’s stock after selling 362 shares during the quarter. Okabena Investment Services Inc.’s holdings in Spotify Technology were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Intech Investment Management LLC grew its position in shares of Spotify Technology by 57.0% in the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock valued at $626,000 after purchasing an additional 617 shares during the period. Larson Financial Group LLC grew its holdings 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 during the period. FMR LLC lifted its holdings in shares of Spotify Technology by 23.4% during the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after acquiring an additional 297,035 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Spotify Technology in the third quarter worth approximately $69,000. Finally, Townsquare Capital LLC grew its holdings in Spotify Technology by 7.8% in the third quarter. Townsquare Capital LLC now owns 994 shares of the company’s stock valued at $366,000 after purchasing an additional 72 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $559.76 on Friday. The business’s fifty day moving average price is $578.28 and its two-hundred day moving average price is $477.12. The company has a market capitalization of $114.59 billion, a P/E ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $260.80 and a 1-year high of $652.63.

Analysts Set New Price Targets

A number of research firms have recently commented on SPOT. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Macquarie increased their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Morgan Stanley boosted their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Benchmark upped their price target on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Citigroup raised their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $552.47.

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.