Ballentine Partners LLC Purchases 398 Shares of Spotify Technology $SPOT

Ballentine Partners LLC grew its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 31.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,658 shares of the company's stock after acquiring an additional 398 shares during the quarter. Ballentine Partners LLC's holdings in Spotify Technology were worth $1,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its position in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Spotify Technology by 3.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after buying an additional 112,553 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Spotify Technology by 1,151.0% during the 1st 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of Spotify Technology by 10.3% in the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock valued at $866,012,000 after acquiring an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden grew its position in Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock worth $857,855,000 after acquiring an additional 174,700 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 0.5%

Shares of SPOT opened at $712.03 on Friday. The stock has a fifty day simple moving average of $693.65 and a two-hundred day simple moving average of $658.04. Spotify Technology has a 52-week low of $362.31 and a 52-week high of $785.00. The company has a market capitalization of $145.76 billion, a PE ratio of 172.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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). The business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of a number of recent research reports. Rosenblatt Securities decreased their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Oppenheimer increased their price target on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Evercore ISI raised their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, BNP Paribas Exane initiated coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $900.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $726.84.

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.

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