TIAA Trust National Association Sells 11,148 Shares of Spotify Technology S.A. (NYSE:SPOT)

TIAA Trust National Association lowered its holdings in Spotify Technology S.A. (NYSE:SPOT) by 29.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,315 shares of the company’s stock after selling 11,148 shares during the quarter. TIAA Trust National Association’s holdings in Spotify Technology were worth $11,773,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SPOT. Intech Investment Management LLC raised its stake in Spotify Technology by 57.0% in the third quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock worth $626,000 after buying an additional 617 shares in the last quarter. Great Valley Advisor Group Inc. lifted its stake in shares of Spotify Technology by 4.3% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 2,125 shares of the company’s stock worth $783,000 after purchasing an additional 87 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Spotify Technology by 11.8% during the 3rd quarter. Cerity Partners LLC now owns 33,321 shares of the company’s stock worth $12,280,000 after purchasing an additional 3,524 shares during the last quarter. Larson Financial Group LLC boosted its position in Spotify Technology by 51.6% during the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in Spotify Technology by 7.5% in the third quarter. Summit Trail Advisors LLC now owns 2,425 shares of the company’s stock worth $894,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT opened at $615.84 on Wednesday. The stock has a market cap of $126.07 billion, a P/E ratio of 103.50 and a beta of 1.66. The firm has a fifty day moving average price of $573.25 and a 200 day moving average price of $474.03. Spotify Technology S.A. has a 1 year low of $257.56 and a 1 year high of $652.63.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SPOT shares. Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group upped their price target on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $480.00 price objective (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. Wells Fargo & Company upped their target price on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Finally, Barclays raised their price target on Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock has a consensus 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.