Zions Bancorporation N.A. Decreases Holdings in Spotify Technology S.A. (NYSE:SPOT)

Zions Bancorporation N.A. decreased its position in Spotify Technology S.A. (NYSE:SPOT) by 19.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 940 shares of the company’s stock after selling 230 shares during the quarter. Zions Bancorporation N.A.’s holdings in Spotify Technology were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Auxano Advisors LLC lifted its holdings in shares of Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company’s stock worth $370,000 after acquiring an additional 20 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Spotify Technology by 4.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 573 shares of the company’s stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Spotify Technology by 5.4% during the fourth quarter. First Horizon Advisors Inc. now owns 504 shares of the company’s stock valued at $225,000 after buying an additional 26 shares during the period. Harbour Investments Inc. grew its stake in shares of Spotify Technology by 13.3% during the fourth quarter. Harbour Investments Inc. now owns 222 shares of the company’s stock valued at $99,000 after buying an additional 26 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in shares of Spotify Technology by 1.9% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company’s stock worth $656,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 6.3 %

Spotify Technology stock opened at $576.86 on Thursday. Spotify Technology S.A. has a 12 month low of $257.56 and a 12 month high of $652.63. The company has a market capitalization of $118.09 billion, a price-to-earnings ratio of 96.95 and a beta of 1.66. The business’s fifty day simple moving average is $575.00 and its two-hundred day simple moving average is $474.75.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several recent research reports. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 target price (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Macquarie upped their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company raised their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Guggenheim restated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a research report on Monday, February 24th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $547.55.

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.