Adams Diversified Equity Fund Inc. Makes New $6.98 Million Investment in Spotify Technology $SPOT

Key Points

• Adams Diversified Equity Fund Inc. invested approximately $6.98 million in Spotify Technology, acquiring 9,100 shares during the 2nd quarter.
• Other institutional investors, including Sound Income Strategies LLC and Cornerstone Planning Group LLC, also significantly increased their stakes in Spotify, contributing to 84.09% of the company's stock ownership.
• Despite a disappointing earnings report, where Spotify missed consensus estimates by ($2.42) per share, the company's revenue of $4.94 billion for the quarter exceeded analyst expectations.

Adams Diversified Equity Fund Inc. acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,100 shares of the company's stock, valued at approximately $6,983,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC increased its holdings in shares of 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 acquiring an additional 25 shares during the period. GFG Capital LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth $33,000. Cornerstone Planning Group LLC boosted its position in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares in the last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth $28,000. Finally, Truvestments Capital LLC acquired a new stake in Spotify Technology during the 1st quarter worth about $34,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Up 1.9%

NYSE:SPOT opened at $688.54 on Wednesday. Spotify Technology has a 12 month low of $376.00 and a 12 month high of $785.00. The stock has a 50 day moving average of $699.13 and a two-hundred day moving average of $673.70. The firm has a market cap of $140.95 billion, a P/E ratio of 167.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The company'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. On average, research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SPOT. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Rosenblatt Securities reissued a "neutral" rating and issued a $679.00 price objective on shares of Spotify Technology in a report on Wednesday, October 1st. Oppenheimer boosted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Citigroup boosted their price objective on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Finally, Benchmark decreased their price objective on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus price target 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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