Vontobel Holding Ltd. Sells 905 Shares of Spotify Technology S.A. (NYSE:SPOT)

Vontobel Holding Ltd. reduced its position in Spotify Technology S.A. (NYSE:SPOT) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,260 shares of the company’s stock after selling 905 shares during the quarter. Vontobel Holding Ltd.’s holdings in Spotify Technology were worth $7,274,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. grew 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 valued at $176,000 after acquiring an additional 26 shares in the last quarter. West Bancorporation Inc. grew its stake in Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after acquiring an additional 27 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after acquiring an additional 29 shares in the last quarter. Avior Wealth Management LLC grew its stake 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 acquiring 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 valued at $355,000 after acquiring an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.6 %

NYSE:SPOT opened at $637.75 on Friday. The company has a fifty day moving average of $508.35 and a 200 day moving average of $425.40. Spotify Technology S.A. has a 52 week low of $239.66 and a 52 week high of $652.63. The firm has a market capitalization of $126.95 billion, a P/E ratio of 107.18 and a beta of 1.63.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. UBS Group boosted their price target on shares of Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Pivotal Research boosted their price target on shares of Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Guggenheim boosted their price target on shares of Spotify Technology from $520.00 to $675.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.