D.A. Davidson & CO. Purchases 1,566 Shares of Spotify Technology $SPOT

Key Points

• D.A. Davidson & CO. increased its position in Spotify Technology by 13.2%, purchasing an additional 1,566 shares, bringing its total holdings to 13,469 shares valued at approximately $10.3 million.
• Analyst reports show that Spotify Technology has a consensus rating of "Moderate Buy", with various price targets ranging from $679 to $825.
• Spotify's recent quarterly earnings showed a revenue increase of 10.1% year-over-year, despite a loss of ($0.42) per share that missed expectations by $2.42.

D.A. Davidson & CO. boosted its position in Spotify Technology (NYSE:SPOT - Free Report) by 13.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,469 shares of the company's stock after purchasing an additional 1,566 shares during the quarter. D.A. Davidson & CO.'s holdings in Spotify Technology were worth $10,335,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sapient Capital LLC bought a new position in Spotify Technology in the second quarter worth about $322,000. Swedbank AB increased its holdings in shares of Spotify Technology by 1.4% during the first quarter. Swedbank AB now owns 959,587 shares of the company's stock valued at $527,802,000 after acquiring an additional 13,458 shares in the last quarter. Legacy Capital Group California Inc. increased its holdings in shares of Spotify Technology by 110.9% during the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company's stock valued at $2,990,000 after acquiring an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Spotify Technology by 36.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock valued at $1,576,000 after acquiring an additional 544 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Spotify Technology by 56.9% during the second quarter. Annex Advisory Services LLC now owns 53,984 shares of the company's stock valued at $41,424,000 after acquiring an additional 19,577 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent analyst reports. Rosenblatt Securities restated a "neutral" rating and set a $679.00 price objective on shares of Spotify Technology in a report on Wednesday, October 1st. Wells Fargo & Company upped 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. Weiss Ratings restated a "hold (c-)" rating on shares of Spotify Technology in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Oppenheimer upped their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Trading Down 2.1%

Shares of NYSE:SPOT opened at $674.73 on Thursday. Spotify Technology has a twelve month low of $376.00 and a twelve month high of $785.00. The company's 50 day moving average is $698.72 and its 200 day moving average is $673.71. The company has a market cap of $138.12 billion, a PE ratio of 163.77, a price-to-earnings-growth ratio of 3.29 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.33 EPS. Spotify Technology's quarterly revenue was up 10.1% compared to the same quarter last year. 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.

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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