Bridger Management LLC Buys New Position in Spotify Technology $SPOT

Key Points

• Bridger Management LLC has purchased 17,768 shares of Spotify Technology, valued at approximately $9.77 million, making it 4.9% of their holdings.
• The company’s stock opened at $690.79 and has a market capitalization of $141.41 billion, with an average price target of $720.07 from analysts.
• Spotify reported a loss of ($0.42) EPS, missing estimates while its revenue for the quarter was reported at $4.94 billion, exceeding analyst expectations.

Bridger Management LLC bought a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,768 shares of the company's stock, valued at approximately $9,773,000. Spotify Technology comprises about 4.9% of Bridger Management LLC's holdings, making the stock its 8th largest position.

Other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its position in Spotify Technology by 125.3% in the 1st quarter. Alliancebernstein L.P. now owns 239,644 shares of the company's stock worth $131,811,000 after purchasing an additional 133,283 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Spotify Technology by 55.5% in the 1st quarter. Advisors Asset Management Inc. now owns 3,694 shares of the company's stock worth $2,032,000 after purchasing an additional 1,319 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new stake in Spotify Technology in the 1st quarter worth approximately $33,074,000. Amundi boosted its position in Spotify Technology by 2.3% in the 1st quarter. Amundi now owns 767,627 shares of the company's stock worth $428,658,000 after purchasing an additional 17,597 shares in the last quarter. Finally, JAT Capital Mgmt LP raised its stake in shares of Spotify Technology by 161.6% during the 1st quarter. JAT Capital Mgmt LP now owns 2,226 shares of the company's stock worth $1,224,000 after buying an additional 1,375 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SPOT. Guggenheim reaffirmed a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research note on Wednesday. Morgan Stanley reduced their target price on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Canaccord Genuity Group increased their price objective on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a research note on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $3.87 during mid-day trading on Friday, reaching $707.72. 1,210,930 shares of the company's stock were exchanged, compared to its average volume of 1,360,664. The firm has a market capitalization of $144.88 billion, a price-to-earnings ratio of 171.78, a PEG ratio of 3.04 and a beta of 1.71. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The company's 50-day moving average is $695.80 and its 200-day moving average is $645.76.

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 predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology 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.