Daiwa Securities Group Inc. has recently undertaken a significant action by decreasing its ownership stake in Spotify Technology S.A. by 53.7% during the initial quarter of the current year. This information was disclosed in the company’s most recent 13F filing with the Securities and Exchange Commission (SEC). Following the sale of 830 shares during the quarter, Daiwa Securities Group Inc. retained ownership of 716 shares of the company’s stock, with a value of $189,000 as of its most recent filing with the SEC.
Notably, Daiwa Securities Group Inc. is not the only entity that has been involved in transactions related to Spotify shares. Other prominent investors have also been actively buying and selling shares of the company. For instance, Nordea Investment Management AB augmented its holdings in Spotify Technology shares by 7.9% in the last quarter, while Assenagon Asset Management S.A. and Evoke Wealth LLC also made significant adjustments to their stakes in the company. Collectively, hedge funds and other institutional investors own a substantial 84.09% of Spotify’s stock.
At the same time, Spotify Technology’s stock has experienced a 0.4% rise, with shares commencing at $302.10 on Friday. The company presently maintains a 50-day moving average of $308.47 and a 200-day moving average of $268.63. The stock’s 1-year low stands at $129.23 and its 1-year high at $331.08.
Furthermore, Wall Street analysts have provided their assessments of Spotify Technology, thereby impacting the company’s stock evaluations. Piper Sandler, Wolfe Research, Canaccord Genuity Group, Raymond James, and Loop Capital are among the research firms that have recently published their insights. These analysts have issued diverse ratings and target prices for Spotify Technology stock, contributing to the stock’s average rating of “Moderate Buy” with a consensus target price of $323.22, as reported by MarketBeat.com.
Spotify Technology SA operates globally, providing subscription services for audio streaming through its Premium and Ad-Supported segments. The Premium segment offers uninterrupted online and offline streaming access to its collection of music and podcasts without any interruptions for its subscribers.
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