SBI Securities Co. Ltd. Purchases Shares of 2,416 Spotify Technology S.A. (NYSE:SPOT)

SBI Securities Co. Ltd. purchased a new position in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,416 shares of the company’s stock, valued at approximately $1,081,000.

Other institutional investors have also modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new position in Spotify Technology during the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Spotify Technology during the 3rd quarter valued at approximately $33,000. Larson Financial Group LLC lifted its stake in shares of Spotify Technology by 51.6% in the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after purchasing an additional 33 shares during the period. Rakuten Securities Inc. boosted its holdings in Spotify Technology by 40.5% during the third quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock worth $41,000 after buying an additional 32 shares in the last quarter. Finally, Quent Capital LLC grew its position in Spotify Technology by 135.7% during the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. UBS Group upped their price target on Spotify Technology from $485.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Macquarie raised their price objective on Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. KeyCorp upped their target price on Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Bank of America increased their target price on Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $529.43.

Spotify Technology Stock Down 1.5 %

Shares of SPOT opened at $599.01 on Tuesday. The stock has a fifty day simple moving average of $539.75 and a two-hundred day simple moving average of $448.32. The company has a market capitalization of $119.24 billion, a PE ratio of 100.67 and a beta of 1.63. Spotify Technology S.A. has a 52-week low of $249.58 and a 52-week high of $652.63.

About Spotify Technology

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.