62,000 Shares in Spotify Technology $SPOT Purchased by Rheos Capital Works Inc.

Key Points

• Rheos Capital Works Inc. acquired a new stake in Spotify Technology, purchasing 62,000 shares valued at approximately $47.58 million, which constitutes 2.7% of its overall holdings.
• Spotify's stock has seen a one-year range with a low of $364.26 and a high of $785, and it has a market capitalization of $139.77 billion.
• In its latest earnings report, Spotify reported a loss of ($0.42) EPS, missing expectations, despite achieving $4.94 billion in revenue, which exceeded analyst estimates.

Rheos Capital Works Inc. purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 62,000 shares of the company's stock, valued at approximately $47,575,000. Spotify Technology comprises 2.7% of Rheos Capital Works Inc.'s holdings, making the stock its 11th largest position.

Several other hedge funds have also recently bought and sold shares of SPOT. Tsfg LLC acquired a new position in shares of Spotify Technology in the first quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its stake in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares during the period. North Star Investment Management Corp. boosted its stake in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the period. Sound Income Strategies LLC grew its holdings in Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock valued at $31,000 after buying an additional 25 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Spotify Technology during the 2nd quarter worth $33,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $682.75 on Wednesday. Spotify Technology has a 1 year low of $364.26 and a 1 year high of $785.00. The stock has a market capitalization of $139.77 billion, a price-to-earnings ratio of 165.72, a price-to-earnings-growth ratio of 3.26 and a beta of 1.67. The company's 50 day simple moving average is $700.53 and its 200 day simple moving average is $669.26.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company earned $1.33 earnings per share. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the subject of a number of recent research reports. Rosenblatt Securities reissued a "neutral" rating and issued a $679.00 target price on shares of Spotify Technology in a research report on Wednesday, October 1st. Cantor Fitzgerald boosted their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Benchmark decreased their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Canaccord Genuity Group lifted their price target on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, BNP Paribas Exane initiated coverage on Spotify Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $900.00 price target for the company. One 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 stock. According to MarketBeat, the stock currently 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.

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