Spotify Technology $SPOT Shares Bought by West Family Investments Inc.

West Family Investments Inc. raised its position in shares of Spotify Technology (NYSE:SPOT) by 59.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 649 shares of the company’s stock after buying an additional 243 shares during the period. West Family Investments Inc.’s holdings in Spotify Technology were worth $498,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares during the period. Northern Trust Corp increased its stake in Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock worth $866,012,000 after purchasing an additional 147,580 shares during the period. Geode Capital Management LLC lifted its position in shares of Spotify Technology by 3.3% during the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock worth $1,192,730,000 after purchasing an additional 49,377 shares in the last quarter. Forsta AP Fonden grew its holdings in shares of Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after purchasing an additional 174,700 shares in the last quarter. Finally, Edgewood Management LLC increased its stake in Spotify Technology by 14.4% during the 2nd quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock worth $959,015,000 after buying an additional 157,567 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reduced their target price on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Oppenheimer increased their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Citigroup boosted their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. BNP Paribas Exane began coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price objective on the stock. Finally, The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their price objective for the company from $765.00 to $770.00 in a report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $758.86.

Spotify Technology Trading Up 1.1%

SPOT stock opened at $599.11 on Friday. The company has a market capitalization of $123.35 billion, a P/E ratio of 94.20, a PEG ratio of 1.98 and a beta of 1.67. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The business has a 50 day simple moving average of $657.55 and a 200-day simple moving average of $682.18.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the company posted $1.45 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. Research analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal 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.