497 Shares in Spotify Technology S.A. (NYSE:SPOT) Purchased by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 497 shares of the company’s stock, valued at approximately $222,000.

Several other large investors have also modified their holdings of SPOT. Gulf International Bank UK Ltd purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $5,003,000. Central Asset Investments & Management Holdings HK Ltd bought a new stake in Spotify Technology during the 4th quarter valued at about $325,000. K.J. Harrison & Partners Inc boosted its position in Spotify Technology by 100.0% in the 4th quarter. K.J. Harrison & Partners Inc now owns 10,000 shares of the company’s stock valued at $4,578,000 after buying an additional 5,000 shares during the period. New York Life Investment Management LLC bought a new position in Spotify Technology in the 4th quarter worth about $239,000. Finally, NewEdge Wealth LLC increased its position in shares of Spotify Technology by 64.2% during the fourth quarter. NewEdge Wealth LLC now owns 2,929 shares of the company’s stock worth $1,310,000 after acquiring an additional 1,145 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 2.1 %

NYSE:SPOT opened at $590.28 on Friday. The company has a market capitalization of $117.50 billion, a P/E ratio of 99.21 and a beta of 1.63. Spotify Technology S.A. has a 12 month low of $249.38 and a 12 month high of $652.63. The firm has a fifty day simple moving average of $533.95 and a 200-day simple moving average of $443.05.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SPOT. Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price target (up previously from $473.00) on shares of Spotify Technology in a report on Wednesday, February 5th. Pivotal Research increased their price target on Spotify Technology from $510.00 to $565.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp lifted their price objective on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Bank of America increased their target price on shares of Spotify Technology from $430.00 to $515.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $529.43.

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.