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

Okabena Investment Services Inc. trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 9.1% in the fourth quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SPOT. Auxano Advisors LLC raised its stake in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Spotify Technology by 4.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock valued at $256,000 after buying an additional 25 shares in the last quarter. First Horizon Advisors Inc. raised its position in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after buying an additional 26 shares during the period. Harbour Investments Inc. boosted its position in Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock worth $99,000 after acquiring an additional 26 shares during the period. Finally, Cookson Peirce & Co. Inc. grew its stake in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock valued at $656,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $559.76 on Friday. The business has a 50 day simple moving average of $578.28 and a 200 day simple moving average of $477.12. Spotify Technology S.A. has a one year low of $260.80 and a one year high of $652.63. The company has a market capitalization of $114.59 billion, a PE ratio of 94.08 and a beta of 1.66.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SPOT. Wells Fargo & Company increased their price target on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an “overweight” rating in a research report on Friday. Canaccord Genuity Group boosted their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Barclays raised their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $552.47.

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.