Sanctuary Advisors LLC Cuts Stake in Spotify Technology S.A. (NYSE:SPOT)

Sanctuary Advisors LLC trimmed its stake in Spotify Technology S.A. (NYSE:SPOT) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 15,394 shares of the company’s stock after selling 50 shares during the quarter. Sanctuary Advisors LLC’s holdings in Spotify Technology were worth $6,887,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares during the last quarter. West Bancorporation Inc. increased its position in Spotify Technology by 3.4% during the 3rd quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock worth $305,000 after purchasing an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC raised its holdings in Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after buying an additional 29 shares during the period. Avior Wealth Management LLC lifted its position in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares in the last quarter. Finally, Park National Corp OH grew its stake in Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after buying an additional 31 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 SPOT opened at $641.78 on Thursday. The stock has a market capitalization of $127.75 billion, a PE ratio of 107.86 and a beta of 1.63. The business’s fifty day moving average price is $517.95 and its 200 day moving average price is $432.35. Spotify Technology S.A. has a 12-month low of $239.66 and a 12-month high of $652.63.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Macquarie boosted their price objective on Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barclays increased their target price on Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price target on Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price objective (up previously from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.