SageView Advisory Group LLC Invests $470,000 in Spotify Technology $SPOT

Key Points

• SageView Advisory Group LLC purchased 855 shares of Spotify Technology for approximately $470,000 in the first quarter.
• Institutional investors now hold 84.09% of Spotify's stock, indicating strong institutional support.
• Spotify reported a loss of $0.42 per share for the last quarter, missing expectations, despite revenue exceeding estimates at $4.94 billion.

SageView Advisory Group LLC acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 855 shares of the company's stock, valued at approximately $470,000.

Several other institutional investors have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its position in shares of Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the period. Jennison Associates LLC raised its holdings in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after acquiring an additional 1,262,614 shares during the period. GAMMA Investing LLC lifted its position in shares of Spotify Technology by 75,856.5% during the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after acquiring an additional 716,844 shares in the last quarter. Nuveen LLC bought a new position in shares of Spotify Technology in the first quarter worth $383,139,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Spotify Technology by 311.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,745 shares of the company's stock valued at $377,027,000 after purchasing an additional 638,047 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SPOT. Cantor Fitzgerald lifted their target price on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Rosenblatt Securities lowered their target price on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. UBS Group dropped their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Finally, Barclays decreased their target price on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.07.

Spotify Technology Trading Up 1.0%

Shares of SPOT traded up $6.60 during midday trading on Friday, reaching $696.91. The stock had a trading volume of 1,169,675 shares, compared to its average volume of 1,222,534. The company's 50-day moving average is $693.51 and its 200 day moving average is $649.20. Spotify Technology has a 12-month low of $337.15 and a 12-month high of $785.00. The company has a market capitalization of $142.66 billion, a price-to-earnings ratio of 169.03, a price-to-earnings-growth ratio of 2.99 and a beta of 1.71.

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 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 net margin of 4.76% and a return on equity of 13.67%. The business's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

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.