Rakuten Securities Inc. Has $123,000 Holdings in Spotify Technology S.A. (NYSE:SPOT)

Rakuten Securities Inc. boosted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 147.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275 shares of the company’s stock after acquiring an additional 164 shares during the period. Rakuten Securities Inc.’s holdings in Spotify Technology were worth $123,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Prestige Wealth Management Group LLC bought a new stake in shares of Spotify Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Spotify Technology in the third quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of Spotify Technology by 51.6% in the third quarter. Larson Financial Group LLC now owns 97 shares of the company’s stock worth $36,000 after acquiring an additional 33 shares during the last quarter. Quent Capital LLC grew its stake in shares of Spotify Technology by 135.7% in the fourth quarter. Quent Capital LLC now owns 99 shares of the company’s stock worth $44,000 after acquiring an additional 57 shares during the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of Spotify Technology during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 5.6 %

Shares of NYSE:SPOT opened at $536.87 on Thursday. Spotify Technology S.A. has a 12 month low of $249.58 and a 12 month high of $652.63. The company’s 50-day moving average price is $551.54 and its two-hundred day moving average price is $457.20. The firm has a market cap of $109.90 billion, a P/E ratio of 90.23 and a beta of 1.66.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research restated a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. KeyCorp boosted their price target on Spotify Technology from $555.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their price objective on Spotify Technology from $520.00 to $690.00 and gave the company an “overweight” rating 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 research report on Monday, February 24th. Finally, Macquarie boosted their price target on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Eight research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $540.68.

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.