Rakuten Securities Inc. Has $41,000 Stake in Spotify Technology S.A. (NYSE:SPOT)

Rakuten Securities Inc. lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 40.5% during the third quarter, Holdings Channel.com reports. The firm owned 111 shares of the company’s stock after buying an additional 32 shares during the quarter. Rakuten Securities Inc.’s holdings in Spotify Technology were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. GQG Partners LLC bought a new position in Spotify Technology during the 1st quarter worth $610,040,000. Swedbank AB bought a new position in Spotify Technology during the first quarter worth about $198,663,000. WCM Investment Management LLC raised its stake in Spotify Technology by 18.5% in the 3rd 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 in the last quarter. International Assets Investment Management LLC boosted its holdings in Spotify Technology by 36,910.0% in the 3rd quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock valued at $128,073,000 after purchasing an additional 346,585 shares during the period. Finally, Sei Investments Co. grew its position in shares of Spotify Technology by 106.8% during the 2nd quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after purchasing an additional 333,782 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPOT shares. Wells Fargo & Company lifted their price target on shares of Spotify Technology from $420.00 to $470.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Evercore ISI upped their target price on Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Guggenheim increased their target price on Spotify Technology from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Macquarie boosted their price target on Spotify Technology from $345.00 to $395.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Finally, DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating and set a $375.00 price objective on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $381.04.

Spotify Technology Stock Up 2.2 %

NYSE:SPOT opened at $419.32 on Wednesday. Spotify Technology S.A. has a one year low of $169.02 and a one year high of $420.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market cap of $83.47 billion, a PE ratio of 171.15 and a beta of 1.56. The firm’s 50 day simple moving average is $367.88 and its 200 day simple moving average is $333.81.

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.