Abel Hall LLC Purchases Shares of 451 Spotify Technology $SPOT

Key Points

• Abel Hall LLC acquired 451 shares of Spotify Technology valued at approximately $346,000 in the second quarter, reflecting growing interest from institutional investors.
• Goldman Sachs significantly increased its position in Spotify by 1,151.0%, along with other hedge funds, highlighting a strong trend of investment in the company.
• Analysts have set a consensus price target of $731.16 for Spotify, with most ratings being "Buy" or "Neutral," indicating optimism about the stock's future performance.

Abel Hall LLC purchased a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 451 shares of the company's stock, valued at approximately $346,000.

A number of other hedge funds have also recently modified their holdings of SPOT. Goldman Sachs Group Inc. increased 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 acquiring an additional 1,601,653 shares during the period. Jennison Associates LLC increased its position in shares of Spotify Technology by 42.3% in the first 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. Nuveen LLC purchased a new position in shares of Spotify Technology in the first quarter valued at about $383,139,000. Axiom Investors LLC DE increased its position in shares of Spotify Technology by 216.8% in the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock valued at $395,847,000 after acquiring an additional 492,504 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Spotify Technology by 39.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company's stock valued at $648,434,000 after acquiring an additional 336,162 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SPOT shares. Argus started coverage on shares of Spotify Technology in a research report on Monday, September 29th. They issued a "buy" rating and a $845.00 price objective on the stock. 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 research report on Wednesday, June 18th. Citigroup boosted their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. Bank of America boosted their price target 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, Barclays reduced their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Stock Performance

Shares of SPOT opened at $679.89 on Wednesday. The stock has a market cap of $139.18 billion, a PE ratio of 165.02, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67. Spotify Technology has a fifty-two week low of $364.26 and a fifty-two week high of $785.00. The firm's 50-day simple moving average is $696.61 and its two-hundred day simple moving average is $666.00.

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 for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts predict that Spotify Technology will post 10.3 EPS for the current 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.

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