Dana Investment Advisors Inc. Sells 69 Shares of Spotify Technology S.A. (NYSE:SPOT)

Dana Investment Advisors Inc. trimmed its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,375 shares of the company’s stock after selling 69 shares during the period. Dana Investment Advisors Inc.’s holdings in Spotify Technology were worth $615,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $281,000. LVZ Inc. lifted its holdings in shares of Spotify Technology by 13.5% in the 4th quarter. LVZ Inc. now owns 1,051 shares of the company’s stock worth $470,000 after purchasing an additional 125 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of Spotify Technology by 14.9% in the 4th quarter. Atria Investments Inc now owns 9,550 shares of the company’s stock worth $4,272,000 after purchasing an additional 1,235 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Spotify Technology by 9.0% in the 4th quarter. Assetmark Inc. now owns 30,986 shares of the company’s stock worth $13,863,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its holdings in shares of Spotify Technology by 1.9% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after purchasing an additional 27 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $531.15 on Friday. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The firm has a market cap of $108.73 billion, a PE ratio of 89.27 and a beta of 1.66. The stock has a fifty day moving average price of $547.82 and a 200-day moving average price of $453.67.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPOT shares. JPMorgan Chase & Co. increased their target price on Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Morgan Stanley increased 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. Canaccord Genuity Group increased their target price on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 target price (up from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Finally, Bank of America increased their target price on Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.