VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Spotify Technology $SPOT

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Spotify Technology (NYSE:SPOT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,600 shares of the company’s stock, valued at approximately $18,877,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Joel Isaacson & Co. LLC boosted its position in shares of Spotify Technology by 1.0% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after purchasing an additional 15 shares in the last quarter. Ignite Planners LLC boosted its position in shares of Spotify Technology by 2.4% during the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares in the last quarter. Hartford Investment Management Co. boosted its position in shares of Spotify Technology by 1.1% during the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares in the last quarter. Stonekeep Investments LLC boosted its position in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT opened at $671.04 on Monday. Spotify Technology has a one year low of $369.42 and a one year high of $785.00. The company has a 50-day moving average of $699.44 and a two-hundred day moving average of $672.40. The stock has a market cap of $137.37 billion, a price-to-earnings ratio of 162.87, a PEG ratio of 3.20 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SPOT. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price objective for the company in a research report on Wednesday, July 30th. Sanford C. Bernstein raised their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Phillip Securities upgraded shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. Bank of America raised their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company raised their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.