Spotify Technology S.A. (NYSE:SPOT) Stake Boosted by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. increased its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 40.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 210,801 shares of the company’s stock after purchasing an additional 60,396 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Spotify Technology were worth $77,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in SPOT. GQG Partners LLC bought a new stake in Spotify Technology in the first quarter valued at $610,040,000. Bamco Inc. NY lifted its stake in Spotify Technology by 28.3% in the first quarter. Bamco Inc. NY now owns 864,584 shares of the company’s stock valued at $228,164,000 after buying an additional 190,931 shares during the last quarter. Swedbank AB lifted its stake in Spotify Technology by 13.2% in the second quarter. Swedbank AB now owns 852,526 shares of the company’s stock valued at $267,514,000 after buying an additional 99,730 shares during the last quarter. Perpetual Ltd lifted its stake in Spotify Technology by 24.3% in the third quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after buying an additional 148,431 shares during the last quarter. Finally, D1 Capital Partners L.P. lifted its stake in Spotify Technology by 5.6% in the second quarter. D1 Capital Partners L.P. now owns 680,061 shares of the company’s stock valued at $213,396,000 after buying an additional 36,000 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 1.8 %

NYSE:SPOT opened at $377.73 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.31. Spotify Technology S.A. has a 1-year low of $164.83 and a 1-year high of $397.20. The firm has a market capitalization of $75.19 billion, a price-to-earnings ratio of 154.18 and a beta of 1.56. The stock has a fifty day simple moving average of $362.26 and a 200 day simple moving average of $329.85.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Barclays raised their target price on Spotify Technology from $350.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Guggenheim raised their price target on Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley raised their price target on Spotify Technology from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on Spotify Technology from $375.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, TD Cowen raised their price target on Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $376.21.

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.