Nikko Asset Management Americas Inc. Has $145.59 Million Holdings in Spotify Technology S.A. (NYSE:SPOT)

Nikko Asset Management Americas Inc. cut its position in shares of Spotify Technology S.A. (NYSE:SPOTFree Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,436 shares of the company’s stock after selling 65,254 shares during the quarter. Spotify Technology comprises about 1.6% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 16th largest position. Nikko Asset Management Americas Inc. owned 0.16% of Spotify Technology worth $145,594,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. William Blair Investment Management LLC bought a new position in shares of Spotify Technology in the fourth quarter valued at $116,880,000. Signaturefd LLC raised its position in Spotify Technology by 67.9% in the fourth quarter. Signaturefd LLC now owns 3,209 shares of the company’s stock worth $1,436,000 after acquiring an additional 1,298 shares during the period. Parallel Advisors LLC raised its position in Spotify Technology by 154.1% in the fourth quarter. Parallel Advisors LLC now owns 2,483 shares of the company’s stock worth $1,111,000 after acquiring an additional 1,506 shares during the period. Polen Capital Management LLC bought a new stake in Spotify Technology in the fourth quarter worth about $27,228,000. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Spotify Technology by 680.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 281 shares of the company’s stock worth $126,000 after purchasing an additional 245 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

NYSE SPOT opened at $576.02 on Monday. The stock has a 50-day moving average of $555.35 and a two-hundred day moving average of $461.13. The company has a market cap of $117.92 billion, a P/E ratio of 96.81 and a beta of 1.66. Spotify Technology S.A. has a 1-year low of $249.58 and a 1-year high of $652.63.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPOT. The Goldman Sachs Group boosted their price objective on shares of Spotify Technology from $550.00 to $695.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Guggenheim restated a “buy” rating and issued a $675.00 price objective on shares of Spotify Technology in a report on Monday, February 24th. Barclays upped their price target 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. KeyCorp boosted their price objective on shares of Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $658.00 price target (up from $473.00) on shares of Spotify Technology in a research note on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $540.68.

Check Out Our Latest Stock Report on Spotify Technology

About Spotify Technology

(Free Report)

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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Institutional Ownership by Quarter for Spotify Technology (NYSE:SPOT)

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