FUKOKU MUTUAL LIFE INSURANCE Co Makes New $222,000 Investment in Spotify Technology S.A. (NYSE:SPOT)

FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 497 shares of the company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SPOT. WCM Investment Management LLC grew its holdings in Spotify Technology by 18.5% during the third quarter. WCM Investment Management LLC now owns 3,873,625 shares of the company’s stock worth $1,430,142,000 after acquiring an additional 605,755 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Spotify Technology by 3.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,492,170 shares of the company’s stock worth $1,286,969,000 after purchasing an additional 102,786 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Spotify Technology during the 4th quarter worth approximately $1,335,575,000. State Street Corp increased its holdings in shares of Spotify Technology by 1.5% during the 3rd quarter. State Street Corp now owns 1,997,323 shares of the company’s stock valued at $736,073,000 after purchasing an additional 28,864 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Spotify Technology by 23.4% in the 3rd quarter. FMR LLC now owns 1,567,818 shares of the company’s stock valued at $577,788,000 after purchasing an additional 297,035 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SPOT shares. Piper Sandler raised their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. UBS Group raised their price objective on Spotify Technology from $485.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $485.00 target price (up from $420.00) on shares of Spotify Technology in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $529.43.

Spotify Technology Stock Down 2.1 %

Shares of SPOT opened at $590.28 on Friday. Spotify Technology S.A. has a 52-week low of $249.38 and a 52-week high of $652.63. The stock has a fifty day simple moving average of $533.95 and a two-hundred day simple moving average of $443.05. The company has a market capitalization of $117.50 billion, a PE ratio of 99.21 and a beta of 1.63.

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.