Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,956 shares of the company’s stock after selling 5,501 shares during the period. Spotify Technology makes up about 0.4% of Illinois Municipal Retirement Fund’s holdings, making the stock its 29th biggest position. Illinois Municipal Retirement Fund’s holdings in Spotify Technology were worth $30,850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the 3rd quarter worth approximately $33,000. Larson Financial Group LLC boosted its stake 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 acquiring an additional 33 shares in the last quarter. Rakuten Securities Inc. boosted its stake in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after acquiring an additional 32 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $601.54 on Tuesday. The company has a 50 day moving average price of $525.88 and a 200 day moving average price of $439.15. Spotify Technology S.A. has a 52 week low of $249.38 and a 52 week high of $652.63. The firm has a market capitalization of $119.74 billion, a price-to-earnings ratio of 101.10 and a beta of 1.63.

Analyst Ratings Changes

SPOT has been the topic of several research analyst reports. Canaccord Genuity Group boosted their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Guggenheim reissued a “buy” rating and set a $675.00 price target on shares of Spotify Technology in a research note on Monday. Pivotal Research increased their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their price target on Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research note on Wednesday, November 13th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.