Connective Capital Management LLC Purchases 1,279 Shares of Spotify Technology $SPOT

Key Points

• Connective Capital Management LLC increased its stake in Spotify Technology by 47.7% in Q1, acquiring an additional 1,279 shares to hold a total of 3,958 shares, valued at approximately $2.18 million.
• A significant number of institutional investors, including Goldman Sachs Group and Jennison Associates, have also boosted their holdings in Spotify, contributing to 84.09% of the stock being owned by institutional entities.
• Spotify reported a loss of ($0.42) EPS, missing expectations significantly, despite a year-over-year revenue increase of 10.1% to $4.94 billion for the most recent quarter.

Connective Capital Management LLC lifted its position in Spotify Technology (NYSE:SPOT - Free Report) by 47.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,958 shares of the company's stock after buying an additional 1,279 shares during the period. Spotify Technology comprises 2.0% of Connective Capital Management LLC's holdings, making the stock its 14th largest position. Connective Capital Management LLC's holdings in Spotify Technology were worth $2,177,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of Spotify Technology by 42.3% in the 1st 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 period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Spotify Technology by 3.3% in the first 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 during the period. Goldman Sachs Group Inc. increased its position in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after acquiring an additional 1,601,653 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock worth $866,012,000 after acquiring an additional 147,580 shares during the period. Finally, Forsta AP Fonden lifted its position in Spotify Technology by 12.6% in the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after acquiring an additional 174,700 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPOT shares. The Goldman Sachs Group upped their price objective on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company lifted their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Barclays lowered their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research note 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. Finally, Pivotal Research upped their price objective on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Twenty equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Trading Up 0.5%

Shares of SPOT stock opened at $692.6780 on Monday. The stock has a market cap of $141.80 billion, a P/E ratio of 168.13, a price-to-earnings-growth ratio of 2.98 and a beta of 1.69. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00. The stock has a 50 day simple moving average of $703.72 and a 200 day simple moving average of $641.77.

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

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