Mesirow Financial Investment Management Inc. Sells 22 Shares of Spotify Technology S.A. (NYSE:SPOT)

Mesirow Financial Investment Management Inc. cut its holdings in Spotify Technology S.A. (NYSE:SPOT) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,087 shares of the company’s stock after selling 22 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Spotify Technology were worth $486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Prestige Wealth Management Group LLC purchased a new stake in Spotify Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Spotify Technology in the 3rd quarter worth $33,000. Larson Financial Group LLC increased its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. Quent Capital LLC increased its stake in shares of Spotify Technology by 135.7% in the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after purchasing an additional 57 shares in the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after purchasing an additional 32 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 2.3 %

Shares of NYSE:SPOT opened at $531.15 on Friday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The company has a 50-day moving average price of $547.82 and a 200 day moving average price of $453.67. The company has a market cap of $108.73 billion, a price-to-earnings ratio of 89.27 and a beta of 1.66.

Analysts Set New Price Targets

SPOT has been the subject of several analyst reports. Citigroup upped their price objective on Spotify Technology from $540.00 to $720.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Canaccord Genuity Group upped their price objective on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Finally, Pivotal Research upped their price objective on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target 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.