Samalin Investment Counsel LLC Sells 62 Shares of Spotify Technology S.A. (NYSE:SPOT)

Samalin Investment Counsel LLC cut its holdings in Spotify Technology S.A. (NYSE:SPOT) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,982 shares of the company’s stock after selling 62 shares during the period. Samalin Investment Counsel LLC’s holdings in Spotify Technology were worth $887,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in Spotify Technology in the fourth quarter worth $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at about $214,000. Kestra Investment Management LLC acquired a new stake in shares of Spotify Technology in the third quarter valued at about $780,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Spotify Technology by 12.4% in the third quarter. PNC Financial Services Group Inc. now owns 11,763 shares of the company’s stock valued at $4,335,000 after purchasing an additional 1,299 shares during 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 $599.64 on Friday. The firm has a market cap of $122.75 billion, a P/E ratio of 100.78 and a beta of 1.66. The firm has a 50 day simple moving average of $567.23 and a 200 day simple moving average of $469.03. Spotify Technology S.A. has a fifty-two week low of $257.56 and a fifty-two week high of $652.63.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SPOT. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Wolfe Research reaffirmed a “peer perform” rating on shares of Spotify Technology in a research report on Friday, January 17th. UBS Group raised their price target on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. KeyCorp increased their target price on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Macquarie increased 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. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.