3,565 Shares in Spotify Technology $SPOT Acquired by Taikang Asset Management Hong Kong Co Ltd

Key Points

• Taikang Asset Management Hong Kong Co Ltd acquired 3,565 shares of Spotify Technology, valued at approximately $1,961,000, indicating growing institutional interest in the company.
• Spotify reported earnings of ($0.42) EPS for the last quarter, significantly missing analysts' estimates of $2.00, despite a revenue of $4.94 billion that exceeded expectations.
• Analysts have varying ratings on Spotify with 20 buy ratings and 10 hold ratings, while the average price target has been set at $720.07 amid recent stock price fluctuations.

Taikang Asset Management Hong Kong Co Ltd acquired a new position in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 3,565 shares of the company's stock, valued at approximately $1,961,000.

A number of other large investors have also recently made changes to their positions in SPOT. Goldman Sachs Group Inc. grew its position in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after buying an additional 1,601,653 shares during the last quarter. Jennison Associates LLC grew its position in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after buying an additional 861,232 shares during the last quarter. Northern Trust Corp grew its position in shares of Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after buying an additional 726,245 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Spotify Technology by 75,856.5% in the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after buying an additional 716,844 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Up 0.5%

Shares of NYSE:SPOT opened at $692.6780 on Monday. The stock has a fifty day simple moving average of $703.72 and a two-hundred day simple moving average of $641.77. The stock has a market capitalization of $141.80 billion, a price-to-earnings ratio of 168.13, a PEG ratio of 2.98 and a beta of 1.69. Spotify Technology has a 12-month low of $319.07 and a 12-month high of $785.00.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPOT. Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a research report on Wednesday, July 30th. Morgan Stanley dropped their price target on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Benchmark dropped their price target on Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, KeyCorp dropped their price target on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $720.07.

About Spotify Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.