Citizens Financial Group Inc. RI Increases Stock Position in Spotify Technology $SPOT

Citizens Financial Group Inc. RI grew its position in shares of Spotify Technology (NYSE:SPOT) by 73.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 826 shares of the company’s stock after buying an additional 349 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Spotify Technology were worth $634,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC grew its stake in Spotify Technology by 21.2% during the 1st quarter. Private Advisor Group LLC now owns 3,951 shares of the company’s stock worth $2,173,000 after buying an additional 692 shares during the last quarter. Csenge Advisory Group boosted its holdings in shares of Spotify Technology by 6.4% in the first quarter. Csenge Advisory Group now owns 818 shares of the company’s stock valued at $470,000 after acquiring an additional 49 shares during the period. Kestra Private Wealth Services LLC grew its position in Spotify Technology by 290.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 5,518 shares of the company’s stock worth $3,035,000 after purchasing an additional 4,106 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Spotify Technology by 28.1% during the first quarter. Allianz Asset Management GmbH now owns 200,632 shares of the company’s stock worth $110,354,000 after buying an additional 44,051 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in shares of Spotify Technology by 5.3% in the first quarter. HighPoint Advisor Group LLC now owns 1,271 shares of the company’s stock valued at $733,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPOT. Citigroup boosted their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. raised their price target on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Rosenblatt Securities dropped their price objective on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Benchmark boosted their target price on shares of Spotify Technology from $800.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Trading Down 0.5%

NYSE SPOT opened at $637.37 on Wednesday. The business’s 50-day moving average price is $676.02 and its 200 day moving average price is $685.04. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The company has a market capitalization of $131.23 billion, a PE ratio of 100.22, a price-to-earnings-growth ratio of 2.12 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. Equities analysts predict that Spotify Technology will post 10.3 EPS 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.