Tokio Marine Asset Management Co. Ltd. Invests $1.12 Million in Spotify Technology S.A. (NYSE:SPOT)

Tokio Marine Asset Management Co. Ltd. purchased a new stake in Spotify Technology S.A. (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,500 shares of the company's stock, valued at approximately $1,118,000.

Several other institutional investors have also made changes to their positions in the stock. WCM Investment Management LLC lifted its stake in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company's stock worth $1,430,142,000 after purchasing an additional 605,755 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company's stock valued at $1,286,969,000 after acquiring an additional 102,786 shares during the last quarter. State Street Corp lifted its stake in shares of Spotify Technology by 1.5% in the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company's stock valued at $736,073,000 after acquiring an additional 28,864 shares during the last quarter. FMR LLC lifted its stake in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company's stock valued at $577,788,000 after acquiring an additional 297,035 shares during the last quarter. Finally, Forsta AP Fonden bought a new position in shares of Spotify Technology in the 4th quarter valued at $619,600,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SPOT shares. Deutsche Bank Aktiengesellschaft increased their price target on Spotify Technology from $430.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Phillip Securities restated an "accumulate" rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Barclays increased their price objective on Spotify Technology from $475.00 to $710.00 and gave the company an "overweight" rating in a report on Wednesday. Pivotal Research increased their price objective on Spotify Technology from $510.00 to $565.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $514.79.

Spotify Technology Stock Performance

Shares of Spotify Technology stock traded down $0.33 during mid-day trading on Thursday, hitting $625.67. 1,854,629 shares of the stock were exchanged, compared to its average volume of 2,123,845. Spotify Technology S.A. has a 12 month low of $227.52 and a 12 month high of $630.77. The company has a 50-day simple moving average of $488.02 and a 200 day simple moving average of $410.89. The company has a market capitalization of $124.54 billion, a P/E ratio of 170.02 and a beta of 1.63.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $4.03 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company's revenue for the quarter was up 18.8% on a year-over-year basis. Analysts predict that Spotify Technology S.A. will post 5.91 EPS for the current year.

Spotify Technology 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.