Central Pacific Bank Trust Division Has $2.54 Million Position in Spotify Technology $SPOT

Key Points

• Central Pacific Bank Trust Division increased its investment in Spotify Technology by 15.5% during the second quarter, bringing its total holdings to 3,314 shares valued at approximately $2.54 million.
• Recent analyst ratings for Spotify include a target price range from $700 to $900, with a consensus rating of "Moderate Buy" from investment analysts.
• Spotify's latest quarterly earnings report indicated a loss of ($0.42) EPS, missing expectations, despite reporting revenue of $4.94 billion, which exceeded estimates by 15.2%.

Central Pacific Bank Trust Division boosted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 15.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,314 shares of the company's stock after buying an additional 445 shares during the period. Central Pacific Bank Trust Division's holdings in Spotify Technology were worth $2,543,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Harbor Investment Advisory LLC lifted its holdings in Spotify Technology by 36.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock valued at $1,576,000 after buying an additional 544 shares during the period. Kera Capital Partners Inc. acquired a new position in Spotify Technology in the second quarter valued at approximately $239,000. Private Client Services LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $256,000. Swedbank AB lifted its holdings in Spotify Technology by 1.4% in the first quarter. Swedbank AB now owns 959,587 shares of the company's stock valued at $527,802,000 after buying an additional 13,458 shares during the period. Finally, Kondo Wealth Advisors Inc. acquired a new position in Spotify Technology in the first quarter valued at approximately $205,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SPOT shares. Barclays cut their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. KeyCorp lowered their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Bank of America upped their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Benchmark lowered their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Finally, Evercore ISI upped their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Twenty investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $721.07.

Spotify Technology Stock Up 1.0%

Shares of SPOT stock opened at $696.91 on Friday. The firm has a fifty day moving average of $693.51 and a 200-day moving average of $648.87. Spotify Technology has a 12-month low of $337.15 and a 12-month high of $785.00. The company has a market capitalization of $142.66 billion, a price-to-earnings ratio of 169.15, a P/E/G ratio of 2.97 and a beta of 1.71.

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 the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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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