Daiwa Securities Group Inc. bought a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 22,306 shares of the company's stock, valued at approximately $9,979,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Auxano Advisors LLC raised its holdings in Spotify Technology by 2.5% in the fourth quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after purchasing an additional 25 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Spotify Technology by 5.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 478 shares of the company's stock valued at $176,000 after purchasing an additional 26 shares in the last quarter. Cookson Peirce & Co. Inc. lifted its position in shares of Spotify Technology by 1.9% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after purchasing an additional 27 shares during the last quarter. Finally, Joel Isaacson & Co. LLC grew its stake in Spotify Technology by 1.9% in the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company's stock worth $697,000 after purchasing an additional 29 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
Spotify Technology Trading Up 3.8 %
SPOT stock opened at $507.66 on Wednesday. The firm's 50-day moving average is $549.75 and its two-hundred day moving average is $456.64. The company has a market capitalization of $103.92 billion, a price-to-earnings ratio of 85.32 and a beta of 1.66. Spotify Technology S.A. has a 52 week low of $249.58 and a 52 week high of $652.63.
Analysts Set New Price Targets
SPOT has been the topic of several research reports. Bank of America upped their price objective on Spotify Technology from $430.00 to $515.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Wolfe Research reissued a "peer perform" rating on shares of Spotify Technology in a research report on Friday, January 17th. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an "overweight" rating in a report on Wednesday, February 5th. Pivotal Research boosted their target price on shares of Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Citigroup raised their price target on shares of Spotify Technology from $540.00 to $720.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Eight equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $540.68.
Read Our Latest Research Report on SPOT
About Spotify Technology
(
Free Report)
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.
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