Credit Agricole S A Has $14.94 Million Stock Holdings in Spotify Technology $SPOT

Key Points

• Credit Agricole S A has increased its holdings in Spotify Technology by 70.2% during the first quarter, now owning 27,153 shares valued at approximately $14.94 million.
• Several institutional investors also raised their stakes in Spotify, with notable increases such as Wealth Enhancement Advisory Services LLC boosting its holdings by 238.8% during the same period.
• Analysts have mixed views on Spotify's stock, with price targets ranging from $640.00 to $850.00, and a consensus rating of "Moderate Buy" among twenty analysts.

Credit Agricole S A boosted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 70.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,153 shares of the company's stock after purchasing an additional 11,196 shares during the period. Credit Agricole S A's holdings in Spotify Technology were worth $14,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC grew 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 in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 worth $1,939,949,000 after acquiring an additional 112,553 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Spotify Technology by 1,151.0% in 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 grew its position in Spotify Technology by 10.3% in 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 in 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.

Wall Street Analyst Weigh In

Several research firms have commented on SPOT. UBS Group decreased their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. 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. KeyCorp decreased their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Trading Up 0.5%

NYSE:SPOT traded up $3.2080 during trading hours on Friday, hitting $692.6780. 935,624 shares of the company traded hands, compared to its average volume of 2,736,379. The stock has a market capitalization of $141.80 billion, a price-to-earnings ratio of 168.13, a P/E/G ratio of 2.98 and a beta of 1.69. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The firm has a 50-day moving average of $703.72 and a 200 day moving average of $641.66.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) 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 analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. Spotify Technology's revenue for the quarter was up 10.1% compared to the same quarter last year. 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. Equities research 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.