Annex Advisory Services LLC Boosts Stock Position in Spotify Technology $SPOT

Key Points

• Annex Advisory Services LLC has increased its stake in Spotify Technology by 56.9%, owning 53,984 shares worth approximately $41.4 million, making it one of their top holdings.
• Several institutional investors, including Goldman Sachs and Jennison Associates, have also significantly increased their holdings in Spotify, indicating strong interest among large investors.
• Analysts have varying price targets for Spotify, with estimates ranging from $650 to $900 and an average target price of $726.84, reflecting a consensus of "Moderate Buy."

Annex Advisory Services LLC increased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 56.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,984 shares of the company's stock after acquiring an additional 19,577 shares during the quarter. Spotify Technology makes up approximately 1.0% of Annex Advisory Services LLC's holdings, making the stock its 29th biggest holding. Annex Advisory Services LLC's holdings in Spotify Technology were worth $41,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new position in shares of Spotify Technology in the first quarter worth about $28,000. Copia Wealth Management acquired a new position in shares of Spotify Technology during the fourth quarter worth approximately $29,000. Cornerstone Planning Group LLC raised its holdings in Spotify Technology by 512.5% during the first 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. North Star Investment Management Corp. raised its position in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after acquiring an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Up 0.3%

Shares of SPOT stock traded up $2.36 on Monday, reaching $737.28. The company's stock had a trading volume of 988,711 shares, compared to its average volume of 2,190,982. The stock's 50 day simple moving average is $693.21 and its 200-day simple moving average is $654.26. Spotify Technology has a 12-month low of $362.31 and a 12-month high of $785.00. The company has a market capitalization of $150.93 billion, a P/E ratio of 178.95, a PEG ratio of 3.16 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 expect that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price on the stock in a research report on Wednesday, July 30th. Barclays reduced 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. Citigroup lifted 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. Bank of America boosted their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Guggenheim restated a "buy" rating and issued a $850.00 price target on shares of Spotify Technology in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $726.84.

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.