Appleton Partners Inc. MA Invests $9.92 Million in Spotify Technology $SPOT

Key Points

• Appleton Partners Inc. MA invested approximately $9.92 million in Spotify Technology, acquiring 12,924 shares during the second quarter.
• Spotify reported a quarterly loss of ($0.42) earnings per share, missing analysts' expectations by ($2.42), despite achieving revenue of $4.94 billion, surpassing estimates.
• Currently, the consensus price target for Spotify's stock is $731.16, with more than half of analysts giving it a Buy rating.

Appleton Partners Inc. MA purchased a new position 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 firm purchased 12,924 shares of the company's stock, valued at approximately $9,917,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tsfg LLC purchased a new position in shares of Spotify Technology during the first quarter worth $28,000. Cornerstone Planning Group LLC boosted its position in shares of 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 buying an additional 41 shares during the period. North Star Investment Management Corp. boosted its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the period. Sound Income Strategies LLC boosted its position in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock worth $31,000 after buying an additional 25 shares during the period. Finally, Truvestments Capital LLC purchased a new position in shares of Spotify Technology during the first quarter worth $34,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Spotify Technology stock opened at $681.46 on Monday. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00. The stock has a market cap of $139.50 billion, a PE ratio of 165.40, a P/E/G ratio of 3.22 and a beta of 1.67. The stock's fifty day moving average is $695.85 and its two-hundred day moving average is $665.34.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research analyst reports. Barclays lowered their price target on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price for the company in a report on Wednesday, July 30th. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Argus initiated coverage on Spotify Technology in a report on Monday, September 29th. They issued a "buy" rating and a $845.00 target price for the company. Finally, Canaccord Genuity Group lifted their target price on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $731.16.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.