Nemes Rush Group LLC Sells 87 Shares of Spotify Technology S.A. (NYSE:SPOT)

Nemes Rush Group LLC lowered its holdings in Spotify Technology S.A. (NYSE:SPOT) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 942 shares of the company’s stock after selling 87 shares during the quarter. Nemes Rush Group LLC’s holdings in Spotify Technology were worth $421,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC boosted its position in Spotify Technology by 7.8% during the third quarter. Townsquare Capital LLC now owns 994 shares of the company’s stock valued at $366,000 after purchasing an additional 72 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Spotify Technology by 34.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company’s stock valued at $807,000 after buying an additional 565 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in shares of Spotify Technology by 5,045.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,374 shares of the company’s stock valued at $1,612,000 after buying an additional 4,289 shares in the last quarter. Ascent Group LLC purchased a new position in shares of Spotify Technology in the 3rd quarter worth approximately $244,000. Finally, Hilltop Holdings Inc. raised its stake in shares of Spotify Technology by 60.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 1,765 shares of the company’s stock worth $650,000 after acquiring an additional 665 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SPOT shares. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Macquarie upped their target price on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. KeyCorp increased their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group boosted their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Benchmark increased their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $552.47.

Spotify Technology Stock Up 0.3 %

NYSE:SPOT opened at $551.71 on Wednesday. Spotify Technology S.A. has a 52 week low of $261.38 and a 52 week high of $652.63. The stock’s 50-day moving average price is $580.87 and its 200-day moving average price is $482.18. The stock has a market capitalization of $112.94 billion, a PE ratio of 92.72 and a beta of 1.66.

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.