Ascent Group LLC Acquires 681 Shares of Spotify Technology $SPOT

Key Points

• Ascent Group LLC increased its holdings in Spotify Technology by 90.9% during the first quarter, now owning 1,430 shares valued at approximately $787,000.
• Several analysts have set new price targets for Spotify, with Goldman Sachs raising its target from $680 to $775, while Pivotal Research increased their target to $900 and maintained a "buy" rating.
• Spotify reported a loss of ($0.42) EPS for its last quarter, falling short of analysts’ projections, but achieved revenues of $4.94 billion, exceeding estimates of $4.29 billion.

Ascent Group LLC grew its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 90.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,430 shares of the company's stock after acquiring an additional 681 shares during the period. Ascent Group LLC's holdings in Spotify Technology were worth $787,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SPOT. Cornerstone Planning Group LLC increased 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. Tsfg LLC acquired a new stake in shares of Spotify Technology during the first quarter worth $28,000. North Star Investment Management Corp. increased 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. Mpwm Advisory Solutions LLC acquired a new stake in shares of Spotify Technology during the fourth quarter worth $26,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology during the first quarter worth $34,000. Institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SPOT shares. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Rosenblatt Securities decreased their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Citigroup lifted their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research note on Tuesday. Pivotal Research lifted their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Twenty analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $721.07.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $719.89 on Wednesday. The stock has a market capitalization of $147.37 billion, a P/E ratio of 174.73, a P/E/G ratio of 3.09 and a beta of 1.71. The company has a 50-day moving average price of $694.75 and a 200-day moving average price of $647.11. Spotify Technology has a 1 year low of $324.16 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) 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 for 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% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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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