Nomura Asset Management Co. Ltd. Purchases 43,827 Shares of Spotify Technology S.A. (NYSE:SPOT)

Nomura Asset Management Co. Ltd. grew its stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 4,763.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,747 shares of the company's stock after purchasing an additional 43,827 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Spotify Technology were worth $20,019,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SPOT. Auxano Advisors LLC boosted its stake in Spotify Technology by 2.5% in the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after purchasing an additional 20 shares during the period. SRS Capital Advisors Inc. raised its stake in 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 in the last quarter. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 5.4% in the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock valued at $225,000 after purchasing an additional 26 shares during the period. Harbour Investments Inc. grew its position in shares of Spotify Technology by 13.3% during the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after purchasing an additional 26 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its position in shares of Spotify Technology by 1.9% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 1,467 shares of the company's stock worth $656,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim reissued a "buy" rating and set a $675.00 price target on shares of Spotify Technology in a research report on Monday, February 24th. China Renaissance initiated coverage on Spotify Technology in a report on Wednesday, March 26th. They set a "buy" rating and a $740.00 target price on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Benchmark increased their price objective on shares of Spotify Technology from $600.00 to $720.00 and gave the stock a "buy" rating in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $550.00 to $695.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $557.47.

Spotify Technology Price Performance

NYSE SPOT traded down $10.89 on Thursday, reaching $554.52. The company had a trading volume of 943,361 shares, compared to its average volume of 2,158,681. The firm has a market cap of $113.51 billion, a price-to-earnings ratio of 93.20 and a beta of 1.66. Spotify Technology S.A. has a fifty-two week low of $267.76 and a fifty-two week high of $652.63. The business has a 50 day moving average of $582.30 and a two-hundred day moving average of $482.76.

Spotify Technology Company Profile

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.