Atlantic Union Bankshares Corp Invests $127,000 in Spotify Technology $SPOT

Atlantic Union Bankshares Corp bought a new stake in shares of Spotify Technology (NYSE:SPOT) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 166 shares of the company’s stock, valued at approximately $127,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Sound Income Strategies LLC grew its stake in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after acquiring an additional 25 shares during the last quarter. GFG Capital LLC purchased a new position in shares of Spotify Technology in the 2nd quarter valued at approximately $33,000. Avion Wealth purchased a new position in shares of Spotify Technology in the 2nd quarter valued at approximately $38,000. Truvestments Capital LLC acquired a new stake in Spotify Technology in the 1st quarter worth approximately $34,000. Finally, Putney Financial Group LLC grew its position in Spotify Technology by 244.4% during the 2nd quarter. Putney Financial Group LLC now owns 62 shares of the company’s stock worth $48,000 after purchasing an additional 44 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SPOT shares. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Wells Fargo & Company raised their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Citigroup lifted their price target on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. Finally, Argus began coverage on Spotify Technology in a research note on Monday, September 29th. They issued a “buy” rating and a $845.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.94.

Spotify Technology Stock Performance

NYSE SPOT opened at $617.16 on Monday. The firm has a market capitalization of $127.07 billion, a P/E ratio of 97.04, a PEG ratio of 2.49 and a beta of 1.67. The stock has a 50-day simple moving average of $685.11 and a two-hundred day simple moving average of $683.58. Spotify Technology has a fifty-two week low of $397.33 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

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.