(Hypebot) — At least nine major institutional investors have significantly upped their stake in Spotify in recent months. Total new institutional investments in Spotify topped $1.4 billion in Q3.
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In the 3rd quarter institutional investments included:
- ARK Investment Management added 37% to its Spotify stock portfolio for a total value of $50,186,000 at the end of the most recent quarter.
- Robeco Institutional Asset Management B.V. bought 250,000 shares valued at approximately $45,208,000.
- American Century Companies Inc. bought a new stake in Spotify valued at approximately $34,388,000.
- Canada Pension Plan Investment Board bought 170,800 shares valued at approximately $30,886,000.
- Wells Fargo & Company boosted its shares in Spotify by 19.2% for a total value of $5,689,000
- Janney Montgomery Scott increased its shares of Spotify by 43.5% in the quarter, for a total value of about $780.000
- Pendal Group Ltd bought a new stake valued at $265,000.
- Stratos Wealth Partners added $596,000 in stock
- Parallel Advisors upped its holdings in Spotify by 51.7% in the quarter to a total value of $280,000.
