Nomura Asset Management Co. Ltd. Has $20.02 Million Position in Spotify Technology S.A. (NYSE:SPOT)

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

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Prestige Wealth Management Group LLC acquired a new position in Spotify Technology during the third quarter worth approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in shares of Spotify Technology during the 4th quarter worth approximately $27,000. Hobbs Group Advisors LLC bought a new stake in Spotify Technology in the 3rd quarter valued at $33,000. Larson Financial Group LLC raised its stake in 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 acquiring an additional 33 shares during the period. Finally, Quent Capital LLC lifted its holdings in Spotify Technology by 135.7% during the 4th quarter. Quent Capital LLC now owns 99 shares of the company’s stock valued at $44,000 after purchasing an additional 57 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SPOT. Morgan Stanley upped their price objective on shares of Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $480.00 price target (down previously from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. Rosenblatt Securities restated a “neutral” rating and set a $658.00 price objective (up from $473.00) on shares of Spotify Technology in a research report on Wednesday, February 5th. Guggenheim restated a “buy” rating and set a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Spotify Technology in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus target price of $552.47.

Spotify Technology Trading Down 3.5 %

Shares of NYSE SPOT opened at $559.76 on Friday. The company 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 12 month low of $260.80 and a 12 month high of $652.63. The stock has a 50-day moving average price of $578.28 and a two-hundred day moving average price of $478.17.

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.