Tokio Marine Asset Management Co. Ltd. Takes Position in Spotify Technology S.A. (NYSE:SPOT)

Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,500 shares of the company’s stock, valued at approximately $1,118,000.

A number of other hedge funds have also recently made changes to their positions in SPOT. Prestige Wealth Management Group LLC bought a new stake in Spotify Technology in the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake 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% during the 3rd quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock valued at $36,000 after buying an additional 33 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Spotify Technology during the 3rd quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. lifted its stake in shares of Spotify Technology by 40.5% during the 3rd quarter. Rakuten Securities Inc. now owns 111 shares of the company’s stock valued at $41,000 after buying an additional 32 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on SPOT shares. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $490.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a report on Tuesday, January 28th. KeyCorp increased their price target on shares of Spotify Technology from $555.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $425.00 to $530.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Macquarie increased their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $451.39.

Spotify Technology Stock Up 0.2 %

Shares of SPOT opened at $549.45 on Tuesday. The stock has a market capitalization of $109.37 billion, a P/E ratio of 149.31 and a beta of 1.62. The firm has a fifty day simple moving average of $480.71 and a two-hundred day simple moving average of $405.25. Spotify Technology S.A. has a twelve month low of $219.36 and a twelve month high of $560.36.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Sell-side analysts expect that Spotify Technology S.A. will post 5.91 EPS for the current fiscal year.

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.