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Nordea Investment Management AB has increased its stake in Spotify Technology SA to demonstrate the potential growth of this expanding music streaming service provider. According to Nordea’s latest SEC 13F filing, his share on Spotify increased by 6.7% in the fourth quarter, bringing that total share to about 0.05% of the company’s stake worth $8,210,000 at the end of the period.
Nordea’s decision is certainly prudent, as reports have recently been issued by various research firms showing that SPOT is a viable investment option and could significantly increase in value over time. It was something. Leading research firms such as Piper Sandler, Loop Capital, and Raymond James have increased their SPOT target prices to $105, $130, and $130, respectively.
JPMorgan Chase & Co. upgraded SPOT’s rating from ‘neutral’ to ‘overweight’ and raised its price target from $120 to $135 per share. Meanwhile, Redburn Partners upgraded Spotify Technology’s rating from ‘neutral’ to ‘buy’ and set a price target on the company’s underlying stock at $140.
This has led those who monitor the security at Bloomberg to give Spotify a consensus rating of “moderate buy.”
So, given that Spotify technology gives users access to millions of different songs and podcasts, making it the leader in providing music streaming services around the world, these expert ratings are surprising. It doesn’t matter. software application. Sustained interest in stocks invested in SPOT is seen with many hedge funds buying more stock each year. Similar to Nordea Investment Management AB buying thousands of dollars more earlier this year.
In conclusion, the outlook for Spotify technology looks bright thanks to promising returns recognized by the research firm. It’s clear that stocks invested in SPOT have the potential for significant returns and continue to be a great opportunity to consider for discerning investors looking to diversify their portfolios.
Institutional investors show strong interest in Spotify Technology SA amid digital music boom
The world of digital music has experienced tremendous growth in recent years, and Spotify Technology SA is one of the biggest beneficiaries of that. The company has seen an increase in institutional investment over the last few months, with prominent companies such as Cibc World Market Inc., BlackRock Inc., Private Advisor Group LLC and Cetera Advisor Networks LLC showing interest. In total, hedge funds and other institutional investors now own 52.80% of the company’s shares.
Cetera Advisor Networks LLC increased its stake in Spotify Technology by 142.4% in the first quarter. The company now owns 3,071 of his Spotify shares worth $464,000 after acquiring an additional 1,804 of his shares during this period.
Private Advisor Group LLC also increased its stake in Spotify Technology by 19.8%, owning 4,909 shares worth a total of $741,000 after purchasing an additional 811 shares.
BlackRock Inc. increased its stake by 6.3% in the first quarter after purchasing more than 200,000 additional shares, demonstrating its confidence in Spotify by owning more than 4 million shares worth $611 million. I was.
Cibc World Market Inc. has also grown at around 22.4% and now owns over 4,800 shares of Spotify Technology worth $728,000 after acquiring an additional around 900 units.
Finally, Dimensional Fund Advisors LP increased its stake in Spotify technology by a whopping 68.6% in the first quarter alone and now owns approximately 200,000 units, worth approximately $30 million.
Spotify Technology SA provides music lovers with instant access to a wide range of music through its premium and ad-supported segments. The premium segment offers subscribers unlimited online and offline high-quality streaming access to music and podcasts on computers, tablets and mobile devices.
Looking ahead, institutional investors aren’t the only ones looking to the future of Spotify Technology. Shares of SPOT opened at $143.70, up more than 30% year-to-date, with a 12-month high of $146 and a low of $69.29. The company’s moving average is steadily rising and is currently at $131.26 over the last 50 days and $105.44 over the last 200 days.
In conclusion, Spotify technology has attracted significant interest from institutional investors over the past few months, demonstrating its immense potential in the future of the digital music industry. This is a positive trend for Spotify as it continues to grow and expand its service around the world. With its innovative approach and growing user base, it’s no wonder this digital powerhouse has caught the attention of avid investors seeking revenue opportunities in today’s rapidly changing technology landscape.
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