Spotify Technology S.A. (NYSE:SPOT) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 91.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,470 shares of the company’s stock after selling 24,934 shares during the period. National Bank of Canada FI’s holdings in Spotify Technology were worth $1,105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC bought a new stake in Spotify Technology during the fourth quarter worth approximately $1,335,575,000. Schroder Investment Management Group grew its position in Spotify Technology by 0.4% during the 4th quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company’s stock worth $855,810,000 after purchasing an additional 7,075 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Spotify Technology during the 4th quarter valued at $800,725,000. Forsta AP Fonden purchased a new position in shares of Spotify Technology during the 4th quarter valued at $619,600,000. Finally, Swedbank AB grew its holdings in shares of Spotify Technology by 20.9% during the 4th quarter. Swedbank AB now owns 946,129 shares of the company’s stock valued at $423,279,000 after acquiring an additional 163,626 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT opened at $569.45 on Thursday. The firm’s fifty day moving average is $583.30 and its two-hundred day moving average is $490.71. Spotify Technology S.A. has a twelve month low of $267.76 and a twelve month high of $652.63. The firm has a market cap of $116.57 billion, a PE ratio of 95.71 and a beta of 1.75.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price objective 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. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. KeyCorp cut their price objective on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a research report on Wednesday. Macquarie upped their target price on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, China Renaissance started 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. Nine investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $555.30.

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.