Andrew Hill Investment Advisors Inc. Acquires 2,125 Shares of Spotify Technology $SPOT

Key Points

• Andrew Hill Investment Advisors Inc. increased its stake in Spotify Technology by 91.2%, acquiring an additional 2,125 shares, bringing its total holding to 4,454 shares valued at approximately $3.42 million.
• Spotify's stock recently opened at $706.98, with a market cap of $144.73 billion, while the company reported revenues of $4.94 billion for the latest quarter, surpassing expectations.
• Equities analysts have mixed ratings on Spotify, with an average rating of "Moderate Buy" and a consensus price target of $726.84, indicating potential for growth despite recent earnings miss.

Andrew Hill Investment Advisors Inc. boosted its position in Spotify Technology (NYSE:SPOT - Free Report) by 91.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,454 shares of the company's stock after acquiring an additional 2,125 shares during the period. Spotify Technology accounts for 2.7% of Andrew Hill Investment Advisors Inc.'s portfolio, making the stock its 18th largest position. Andrew Hill Investment Advisors Inc.'s holdings in Spotify Technology were worth $3,418,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in 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 buying an additional 1,601,653 shares during the period. Jennison Associates LLC lifted its stake in 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 buying an additional 1,262,614 shares during the period. GAMMA Investing LLC lifted its stake in Spotify Technology by 75,856.5% in the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after buying an additional 716,844 shares during the period. Nuveen LLC acquired a new position in Spotify Technology in the first quarter valued at about $383,139,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 buying an additional 638,047 shares during the period. Institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Citigroup increased their target price on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research note on Tuesday, September 9th. 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. 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. Barclays dropped their price target on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, UBS Group dropped their price target on Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $726.84.

Spotify Technology Trading Up 0.4%

Shares of NYSE:SPOT traded up $2.91 during trading on Monday, hitting $737.83. 466,749 shares of the company were exchanged, compared to its average volume of 2,187,964. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00. The stock has a market cap of $151.04 billion, a price-to-earnings ratio of 179.08, a P/E/G ratio of 3.16 and a beta of 1.71. The firm has a fifty day moving average price of $693.21 and a two-hundred day moving average price of $654.26.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, 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.