Spotify Technology S.A. (NYSE:SPOT) Shares Sold by Samalin Investment Counsel LLC

Samalin Investment Counsel LLC decreased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,982 shares of the company’s stock after selling 62 shares during the period. Samalin Investment Counsel LLC’s holdings in Spotify Technology were worth $887,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter worth approximately $1,335,575,000. Marks Group Wealth Management Inc bought a new stake in Spotify Technology during the fourth quarter worth approximately $535,000. Patriot Financial Group Insurance Agency LLC bought a new stake in Spotify Technology during the fourth quarter worth approximately $214,000. Kestra Investment Management LLC bought a new stake in Spotify Technology during the third quarter worth approximately $780,000. Finally, PNC Financial Services Group Inc. raised its holdings in Spotify Technology by 12.4% during the third quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock worth $4,335,000 after purchasing an additional 1,299 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.9 %

Spotify Technology stock opened at $599.64 on Friday. The company’s fifty day simple moving average is $567.23 and its 200-day simple moving average is $469.03. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The stock has a market cap of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SPOT shares. Morgan Stanley boosted their target price on Spotify Technology from $550.00 to $670.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Macquarie upped their price target on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark upped their price target on Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Finally, Wells Fargo & Company upped their price target on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Eight research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $540.68.

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.