Rakuten Securities Inc. Purchases 164 Shares of Spotify Technology S.A. (NYSE:SPOT)

Rakuten Securities Inc. boosted its position in Spotify Technology S.A. (NYSE:SPOT) by 147.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275 shares of the company’s stock after acquiring an additional 164 shares during the period. Rakuten Securities Inc.’s holdings in Spotify Technology were worth $123,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted 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 purchasing an additional 102,786 shares during the last quarter. Jennison Associates LLC bought a new position in Spotify Technology in the fourth quarter valued at approximately $1,335,575,000. State Street Corp boosted its stake in Spotify Technology by 1.5% in the third 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 boosted its position 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 worth $577,788,000 after purchasing 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 worth $619,600,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 5.6 %

NYSE SPOT opened at $536.87 on Thursday. The firm’s fifty day moving average price is $551.54 and its two-hundred day moving average price is $457.20. Spotify Technology S.A. has a 1 year low of $249.58 and a 1 year high of $652.63. The firm has a market capitalization of $109.90 billion, a P/E ratio of 90.23 and a beta of 1.66.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SPOT shares. Cantor Fitzgerald restated a “neutral” rating and issued a $480.00 price target (down from $490.00) on shares of Spotify Technology in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $555.00 to $730.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Barclays lifted their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. TD Cowen lifted their price target on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their price target on shares of Spotify Technology from $520.00 to $690.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Eight investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $540.68.

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.