Robeco Institutional Asset Management B.V. Grows Stock Holdings in Spotify Technology S.A. (NYSE:SPOT)

Robeco Institutional Asset Management B.V. increased its stake in shares of Spotify Technology S.A. (NYSE:SPOT) by 40.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,801 shares of the company’s stock after buying an additional 60,396 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.11% of Spotify Technology worth $77,686,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. GQG Partners LLC purchased a new stake in Spotify Technology during the first quarter worth about $610,040,000. Swedbank AB purchased a new stake in Spotify Technology during the first quarter worth about $198,663,000. International Assets Investment Management LLC boosted its holdings in Spotify Technology by 36,910.0% during the third quarter. International Assets Investment Management LLC now owns 347,524 shares of the company’s stock worth $128,073,000 after buying an additional 346,585 shares in the last quarter. Sei Investments Co. boosted its holdings in Spotify Technology by 106.8% during the second quarter. Sei Investments Co. now owns 646,380 shares of the company’s stock worth $202,828,000 after buying an additional 333,782 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Spotify Technology by 179.0% during the third quarter. Assenagon Asset Management S.A. now owns 380,214 shares of the company’s stock worth $140,120,000 after buying an additional 243,933 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $377.73 on Tuesday. Spotify Technology S.A. has a one year low of $164.83 and a one year high of $397.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50 day moving average price of $362.26 and a 200 day moving average price of $329.85. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 154.18 and a beta of 1.56.

Analyst Ratings Changes

A number of brokerages have issued reports on SPOT. Evercore ISI lifted their target price on shares of Spotify Technology from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. TD Cowen lifted their target price on shares of Spotify Technology from $273.00 to $356.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. Wolfe Research began coverage on shares of Spotify Technology in a research report on Friday, July 12th. They set an “outperform” rating and a $390.00 target price for the company. Redburn Atlantic restated a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a research report on Wednesday, July 10th. Finally, KeyCorp lifted their target price on shares of Spotify Technology from $440.00 to $490.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $376.21.

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.