Crown Wealth Group LLC Sells 200 Shares of Spotify Technology S.A. (NYSE:SPOT)

Crown Wealth Group LLC decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,800 shares of the company’s stock after selling 200 shares during the period. Spotify Technology accounts for 0.7% of Crown Wealth Group LLC’s investment portfolio, making the stock its 28th biggest holding. Crown Wealth Group LLC’s holdings in Spotify Technology were worth $1,700,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its position in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock worth $176,000 after purchasing an additional 26 shares during the period. Joel Isaacson & Co. LLC raised its stake in shares of Spotify Technology by 1.9% during the 4th quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after purchasing an additional 29 shares during the period. Avior Wealth Management LLC lifted its holdings in Spotify Technology by 12.0% during the 3rd quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock worth $104,000 after purchasing an additional 30 shares in the last quarter. Park National Corp OH boosted its stake in Spotify Technology by 4.1% in the 4th quarter. Park National Corp OH now owns 793 shares of the company’s stock worth $355,000 after purchasing an additional 31 shares during the period. Finally, Washington Trust Advisors Inc. grew its holdings in Spotify Technology by 12.0% during the 3rd quarter. Washington Trust Advisors Inc. now owns 299 shares of the company’s stock valued at $110,000 after buying an additional 32 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of SPOT opened at $602.53 on Thursday. The firm has a market capitalization of $119.94 billion, a PE ratio of 101.27 and a beta of 1.63. The company has a 50-day simple moving average of $531.23 and a two-hundred day simple moving average of $442.02. Spotify Technology S.A. has a one year low of $249.38 and a one year high of $652.63.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPOT shares. Phillip Securities restated an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a research report on Wednesday, November 13th. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Canaccord Genuity Group upped their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $529.43.

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.