Spotify Technology sees shifts in institutional holdings and analyst price targets

Spotify Technology is seeing shifts in institutional interest and analyst projections. GoalVest Advisory LLC significantly increased its position in the company by 17,309.4% during the third quarter, bringing its total holdings to 22,110 shares valued at approximately $10.78 million.

In terms of market valuation, KeyCorp analysts reduced their price objective for Spotify from $680.00 to $660.00, though the firm maintains an ‘overweight’ rating. Other financial institutions have also adjusted their targets, including Cantor Fitzgerald, Rosenblatt Securities, and Benchmark. Despite these adjustments, the stock maintains a consensus ‘Moderate Buy’ rating with an average target price of $593.50.

Additionally, Spotify CEO Alex Norström recently sold 5,436 shares at an average price of $502.10, totaling approximately $2.73 million.