Blue Trust Inc. Has $545,000 Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Blue Trust Inc. decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,218 shares of the company’s stock after selling 239 shares during the quarter. Blue Trust Inc.’s holdings in Spotify Technology were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Banque Pictet & Cie SA increased its stake in Spotify Technology by 129.1% in the 4th quarter. Banque Pictet & Cie SA now owns 2,520 shares of the company’s stock valued at $1,127,000 after buying an additional 1,420 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Spotify Technology by 46.8% in the fourth quarter. V Square Quantitative Management LLC now owns 160 shares of the company’s stock worth $71,000 after acquiring an additional 51 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Spotify Technology by 115.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 100,006 shares of the company’s stock worth $45,620,000 after acquiring an additional 53,687 shares in the last quarter. Marks Group Wealth Management Inc acquired a new stake in Spotify Technology during the fourth quarter valued at $535,000. Finally, Hartford Investment Management Co. acquired a new stake in Spotify Technology during the fourth quarter valued at $641,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on SPOT. Deutsche Bank Aktiengesellschaft raised their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 price objective (up previously from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Citigroup raised their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday. Finally, Bank of America upped their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $529.43.

Spotify Technology Trading Down 1.6 %

SPOT opened at $637.75 on Tuesday. The stock’s 50 day simple moving average is $508.35 and its 200-day simple moving average is $426.64. The stock has a market cap of $126.94 billion, a PE ratio of 107.18 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.

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.