Private Advisor Group LLC Has $1.46 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

Private Advisor Group LLC decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,259 shares of the company’s stock after selling 166 shares during the quarter. Private Advisor Group LLC’s holdings in Spotify Technology were worth $1,458,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology during the 3rd quarter worth $33,000. Larson Financial Group LLC boosted its holdings in shares of Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Rakuten Securities Inc. grew its position in Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares during the last quarter. Finally, Quent Capital LLC grew 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 purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Up 2.4 %

Shares of NYSE SPOT opened at $602.53 on Thursday. The company has a market cap of $119.94 billion, a PE ratio of 101.27 and a beta of 1.63. The company has a 50-day moving average of $531.23 and a two-hundred day moving average of $442.02. Spotify Technology S.A. has a 1-year low of $249.38 and a 1-year high of $652.63.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SPOT shares. Macquarie raised their price target 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. Bank of America lifted their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Piper Sandler lifted their target price on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Barclays lifted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Guggenheim reiterated a “buy” rating and set a $675.00 target price on shares of Spotify Technology in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.