Thoroughbred Financial Services LLC Sells 42 Shares of Spotify Technology S.A. (NYSE:SPOT)

Thoroughbred Financial Services LLC trimmed its holdings in Spotify Technology S.A. (NYSE:SPOT) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332 shares of the company’s stock after selling 42 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Spotify Technology were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Spotify Technology by 158.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,255 shares of the company’s stock worth $561,000 after acquiring an additional 770 shares in the last quarter. Pitcairn Co. boosted its stake in Spotify Technology by 14.1% in the 4th quarter. Pitcairn Co. now owns 7,452 shares of the company’s stock worth $3,334,000 after purchasing an additional 922 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Spotify Technology during the 4th quarter valued at about $277,000. Huntington National Bank increased its stake in Spotify Technology by 131.6% during the 4th quarter. Huntington National Bank now owns 653 shares of the company’s stock valued at $292,000 after purchasing an additional 371 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Spotify Technology by 561.6% in the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after buying an additional 1,259,183 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. Benchmark boosted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Citigroup increased their price objective on Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Macquarie lifted 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. Nine equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $557.47.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $502.90 on Friday. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The company has a market capitalization of $102.95 billion, a P/E ratio of 84.52 and a beta of 1.75. The company has a fifty day moving average of $583.28 and a 200 day moving average of $485.42.

Spotify Technology Company 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.