Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Sandy Spring Bank

Sandy Spring Bank trimmed its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91 shares of the company’s stock after selling 50 shares during the period. Sandy Spring Bank’s holdings in Spotify Technology were worth $41,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Auxano Advisors LLC grew its holdings in Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Spotify Technology by 4.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after acquiring an additional 25 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Spotify Technology by 5.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after acquiring an additional 26 shares in the last quarter. Harbour Investments Inc. grew its holdings in Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock worth $99,000 after acquiring an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its holdings in Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after acquiring an additional 27 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPOT. Redburn Atlantic began coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Guggenheim restated a “buy” rating and issued a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. The Goldman Sachs Group raised their price target 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. Canaccord Genuity Group raised their price target on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, 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. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $599.64 on Friday. The stock has a market cap of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66. The business’s fifty day moving average is $567.23 and its 200-day moving average is $469.03. Spotify Technology S.A. has a 1 year low of $257.56 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.