Nomura Asset Management Co. Ltd. Purchases 43,827 Shares of Spotify Technology S.A. (NYSE:SPOT)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Spotify Technology S.A. (NYSE:SPOT) by 4,763.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,747 shares of the company’s stock after acquiring an additional 43,827 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Spotify Technology were worth $20,019,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of Spotify Technology by 57.0% in the 3rd quarter. Intech Investment Management LLC now owns 1,699 shares of the company’s stock valued at $626,000 after buying an additional 617 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Townsquare Capital LLC boosted its holdings in Spotify Technology by 7.8% in the third quarter. Townsquare Capital LLC now owns 994 shares of the company’s stock valued at $366,000 after acquiring an additional 72 shares during the last quarter. CreativeOne Wealth LLC increased its position in Spotify Technology by 40.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 1,669 shares of the company’s stock valued at $615,000 after purchasing an additional 478 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Spotify Technology by 34.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,189 shares of the company’s stock worth $807,000 after purchasing an additional 565 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

NYSE SPOT opened at $559.76 on Friday. The company has a fifty day moving average price of $578.28 and a 200-day moving average price of $478.17. The firm has a market cap of $114.59 billion, a price-to-earnings ratio of 94.08 and a beta of 1.66. Spotify Technology S.A. has a 1 year low of $260.80 and a 1 year high of $652.63.

Analysts Set New Price Targets

SPOT has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. FBN Securities initiated coverage on Spotify Technology in a research note on Friday. They issued a “sector perform” rating and a $645.00 price objective on the stock. Wells Fargo & Company upped their target price on Spotify Technology from $690.00 to $740.00 and gave the company an “overweight” rating in a research report on Friday. Benchmark lifted their target price on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, UBS Group increased 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. Nine analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $552.47.

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.