Raiffeisen Bank International AG Acquires 1,815 Shares of Spotify Technology (NYSE:SPOT)

Key Points

• Raiffeisen Bank International AG increased its stake in Spotify Technology by 7.2%, acquiring an additional 1,815 shares, bringing its total ownership to 27,015 shares worth approximately $15.16 million.
• Analyst sentiments are mixed, with some upgrades and price target reductions; DZ Bank upgraded Spotify to a "hold" rating with a $652 price target, while Oppenheimer rated it "outperform" at $800.
• As of now, 84.09% of Spotify's shares are held by institutional investors, demonstrating strong institutional interest in the company.

Raiffeisen Bank International AG raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,015 shares of the company's stock after acquiring an additional 1,815 shares during the period. Raiffeisen Bank International AG's holdings in Spotify Technology were worth $15,158,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SPOT. QRG Capital Management Inc. boosted its stake in shares of Spotify Technology by 36.3% in the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock worth $391,000 after buying an additional 189 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Spotify Technology by 38.1% in the 1st quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after buying an additional 360 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Spotify Technology by 16.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock worth $4,699,000 after buying an additional 1,179 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Spotify Technology by 30.7% in the 1st quarter. Fifth Third Bancorp now owns 302 shares of the company's stock worth $166,000 after buying an additional 71 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Spotify Technology by 238.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock worth $13,993,000 after buying an additional 17,932 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a research note on Wednesday. Oppenheimer upgraded Spotify Technology from a "market perform" rating to an "outperform" rating and set a $800.00 price objective on the stock in a research note on Thursday, July 24th. KeyCorp dropped their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday. Rosenblatt Securities dropped their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, UBS Group dropped their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $718.90.

Spotify Technology Trading Up 0.1%

SPOT stock opened at $627.15 on Friday. The stock has a market cap of $128.38 billion, a price-to-earnings ratio of 152.22, a PEG ratio of 2.56 and a beta of 1.70. The business's 50-day moving average is $700.71 and its 200 day moving average is $624.51. Spotify Technology has a 12-month low of $300.57 and a 12-month high of $785.00.

Spotify Technology Company 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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