Global Retirement Partners LLC Has $1.41 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Global Retirement Partners LLC decreased its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 19.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,156 shares of the company’s stock after selling 784 shares during the quarter. Global Retirement Partners LLC’s holdings in Spotify Technology were worth $1,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology in the third quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at about $33,000. Larson Financial Group LLC raised its position 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 valued at $36,000 after acquiring an additional 33 shares during the period. Rakuten Securities Inc. raised its position in shares of Spotify Technology by 40.5% in the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after acquiring an additional 32 shares during the period. Finally, Quent Capital LLC boosted its stake in 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 during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Down 4.7 %

SPOT stock opened at $606.98 on Friday. The company has a market cap of $120.82 billion, a price-to-earnings ratio of 102.01 and a beta of 1.63. Spotify Technology S.A. has a twelve month low of $243.99 and a twelve month high of $652.63. The business has a 50 day moving average price of $523.55 and a two-hundred day moving average price of $435.73.

Analysts Set New Price Targets

Several equities research analysts have commented on SPOT shares. KeyCorp upped their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. UBS Group lifted their target price on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Canaccord Genuity Group increased their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Bank of America raised their price target on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $529.43.

About Spotify Technology

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.