Daiwa Securities Group Inc. raised its holdings in shares of Spotify Technology S.A. (NYSE:SPOT – Free Report) by 80.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,290 shares of the company’s stock after buying an additional 574 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Spotify Technology were worth $405,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at about $25,000. Larson Financial Group LLC raised its stake in Spotify Technology by 86.0% during the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock valued at $25,000 after acquiring an additional 43 shares during the last quarter. Mather Group LLC. raised its stake in Spotify Technology by 9,900.0% during the 2nd quarter. Mather Group LLC. now owns 100 shares of the company’s stock valued at $31,000 after acquiring an additional 99 shares during the last quarter. Asset Dedication LLC purchased a new stake in Spotify Technology during the 2nd quarter valued at approximately $35,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Spotify Technology during the 2nd quarter valued at approximately $39,000. 84.09% of the stock is owned by institutional investors and hedge funds.
Spotify Technology Stock Up 0.2 %
NYSE:SPOT opened at $338.56 on Tuesday. The company has a market capitalization of $67.39 billion, a price-to-earnings ratio of -505.31 and a beta of 1.57. Spotify Technology S.A. has a one year low of $145.76 and a one year high of $359.38. The stock has a 50-day simple moving average of $327.66 and a 200 day simple moving average of $305.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.56 and a current ratio of 1.56.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and set a $385.00 target price (up from $242.00) on shares of Spotify Technology in a research note on Thursday, July 11th. Cantor Fitzgerald assumed coverage on Spotify Technology in a research note on Thursday, September 5th. They issued a “neutral” rating and a $340.00 price objective for the company. Rosenblatt Securities raised their price objective on Spotify Technology from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Barclays raised their price objective on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Redburn Atlantic reiterated a “sell” rating and set a $230.00 target price on shares of Spotify Technology in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $357.41.
Check Out Our Latest Stock Analysis on Spotify Technology
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.
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