Spotify Technology $SPOT Shares Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its stake in Spotify Technology (NYSE:SPOT) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 206,793 shares of the company’s stock after purchasing an additional 517 shares during the quarter. Spotify Technology accounts for 0.9% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 26th biggest holding. DAVENPORT & Co LLC’s holdings in Spotify Technology were worth $158,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Tsfg LLC purchased a new position in Spotify Technology in the 1st quarter valued at $28,000. Cornerstone Planning Group LLC raised its position in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after buying an additional 41 shares during the last quarter. North Star Investment Management Corp. raised its position in Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares during the last quarter. Sound Income Strategies LLC lifted its stake in shares of Spotify Technology by 156.3% in the 2nd 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 period. Finally, Truvestments Capital LLC purchased a new stake in shares of Spotify Technology in the first quarter valued at about $34,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT opened at $681.46 on Monday. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00. The stock has a market cap of $139.50 billion, a P/E ratio of 165.40, a P/E/G ratio of 3.22 and a beta of 1.67. The stock’s 50 day simple moving average is $695.85 and its 200 day simple moving average is $665.34.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of several analyst reports. Morgan Stanley cut their price target on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Evercore ISI boosted their target price on Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Spotify Technology in a report on Saturday, September 27th. BNP Paribas upgraded Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $731.16.

Spotify Technology Company 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.