TD Private Client Wealth LLC Has $4.48 Million Stock Position in Spotify Technology S.A. (NYSE:SPOT)

TD Private Client Wealth LLC trimmed its position in Spotify Technology S.A. (NYSE:SPOT) by 2.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,003 shares of the company’s stock after selling 216 shares during the period. TD Private Client Wealth LLC’s holdings in Spotify Technology were worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SPOT. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Spotify Technology during the 3rd quarter valued at $33,000. Larson Financial Group LLC raised its stake in Spotify Technology by 51.6% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the last quarter. Quent Capital LLC raised its stake in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Spotify Technology in the 4th quarter valued at $52,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 0.9 %

Spotify Technology stock opened at $599.64 on Friday. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63. The company has a market cap of $122.75 billion, a PE ratio of 100.78 and a beta of 1.66. The company’s 50-day moving average is $567.23 and its two-hundred day moving average is $468.06.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. Barclays boosted their price target on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Citigroup boosted their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $555.00 to $730.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Finally, Redburn Atlantic assumed coverage on shares of Spotify Technology in a report on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $540.68.

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.