Kovitz Investment Group Partners LLC Sells 3,663 Shares of Spotify Technology S.A. (NYSE:SPOT)

Kovitz Investment Group Partners LLC decreased its position in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 49.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,763 shares of the company's stock after selling 3,663 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Spotify Technology were worth $1,684,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Hillsdale Investment Management Inc. purchased a new stake in Spotify Technology during the 4th quarter worth $27,000. Quent Capital LLC increased its position in shares of Spotify Technology by 135.7% during the fourth 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. Noble Wealth Management PBC acquired a new position in shares of Spotify Technology in the fourth quarter worth about $52,000. Strategic Financial Concepts LLC purchased a new position in Spotify Technology in the fourth quarter valued at about $56,000. Finally, Larson Financial Group LLC grew its stake in Spotify Technology by 48.5% during the 4th quarter. Larson Financial Group LLC now owns 144 shares of the company's stock valued at $64,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Down 2.0 %

NYSE:SPOT traded down $12.18 on Thursday, reaching $601.80. 2,326,972 shares of the stock traded hands, compared to its average volume of 2,149,795. The firm has a market capitalization of $123.19 billion, a price-to-earnings ratio of 101.14 and a beta of 1.75. Spotify Technology S.A. has a 1-year low of $283.39 and a 1-year high of $652.63. The company's 50 day moving average is $569.30 and its 200-day moving average is $511.15.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SPOT shares. Robert W. Baird increased their target price on Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Thursday. China Renaissance initiated coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They set a "buy" rating and a $740.00 price objective on the stock. Canaccord Genuity Group upped their target price on shares of Spotify Technology from $650.00 to $700.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Morgan Stanley lifted their price target on Spotify Technology from $550.00 to $670.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 5th. Finally, Citigroup increased their target price on Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $606.71.

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.