Connor Clark & Lunn Investment Management Ltd. Makes New $559,000 Investment in Spotify Technology $SPOT

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Spotify Technology, purchasing 1,016 shares valued at approximately $559,000.
• Institutional investors own 84.09% of Spotify's stock, with significant increases in stakes from several firms in the fourth quarter.
• Analysts have set varying target prices for Spotify's stock, with an average price target of $720.07, suggesting a "Moderate Buy" rating overall.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,016 shares of the company's stock, valued at approximately $559,000.

A number of other institutional investors also recently bought and sold shares of SPOT. Jennison Associates LLC grew its position in Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after acquiring an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Spotify Technology by 3.3% in 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 purchasing an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 worth $957,494,000 after purchasing an additional 1,601,653 shares during the period. Forsta AP Fonden grew its holdings in shares of Spotify Technology by 12.6% during the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock worth $857,855,000 after purchasing an additional 174,700 shares during the period. Finally, Northern Trust Corp increased its position in shares of Spotify Technology by 103.7% during the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after purchasing an additional 726,245 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 1.9%

Shares of SPOT stock traded down $13.2730 on Thursday, reaching $690.5170. 1,613,012 shares of the stock were exchanged, compared to its average volume of 2,309,173. The company has a market capitalization of $141.36 billion, a price-to-earnings ratio of 167.60, a PEG ratio of 3.09 and a beta of 1.69. The business's 50 day moving average price is $704.31 and its 200 day moving average price is $640.09. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group decreased their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted 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. Loop Capital upped their price objective on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Pivotal Research increased their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Finally, Cantor Fitzgerald boosted their target price on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $720.07.

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.