Sigma Planning Corp Sells 4,252 Shares of Spotify Technology S.A. (NYSE:SPOT)

Sigma Planning Corp lowered its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 81.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 964 shares of the company’s stock after selling 4,252 shares during the quarter. Sigma Planning Corp’s holdings in Spotify Technology were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC bought a new stake in shares of Spotify Technology in the 4th quarter worth about $1,335,575,000. Forsta AP Fonden bought a new stake in shares of Spotify Technology in the 4th quarter worth about $619,600,000. WCM Investment Management LLC lifted its holdings in shares of Spotify Technology by 18.5% in the 3rd quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the last quarter. FMR LLC increased its stake in Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock worth $577,788,000 after buying an additional 297,035 shares during the period. Finally, Janus Henderson Group PLC increased its stake in Spotify Technology by 3,948.3% in the 3rd quarter. Janus Henderson Group PLC now owns 264,233 shares of the company’s stock worth $97,329,000 after buying an additional 257,706 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 2.1 %

Shares of NYSE SPOT opened at $590.28 on Friday. Spotify Technology S.A. has a 12 month low of $249.38 and a 12 month high of $652.63. The company has a 50 day simple moving average of $533.95 and a two-hundred day simple moving average of $443.05. The stock has a market cap of $117.50 billion, a price-to-earnings ratio of 99.21 and a beta of 1.63.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Phillip Securities reaffirmed an “accumulate” rating and issued a $485.00 price target (up previously from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. 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 note on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Finally, Piper Sandler raised their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus 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.