Dakota Wealth Management Grows Position in Spotify Technology $SPOT

Key Points

• Dakota Wealth Management significantly increased its investment in Spotify Technology by 383.5% during the second quarter, acquiring a total of 32,392 shares valued at approximately $24.86 million.
• Goldman Sachs Group Inc. and several other hedge funds have also dramatically boosted their stakes in Spotify, with Goldman Sachs increasing its holdings by 1,151%, owning 1.74 million shares worth about $957.49 million.
• Spotify's recent earnings report revealed a net margin of 4.76% and revenue growth of 10.1% year-over-year, despite reporting an EPS loss of ($0.42) for the last quarter.

Dakota Wealth Management increased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 383.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,392 shares of the company's stock after buying an additional 25,693 shares during the period. Dakota Wealth Management's holdings in Spotify Technology were worth $24,856,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SPOT. Goldman Sachs Group Inc. increased its stake 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 valued at $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Jennison Associates LLC increased its stake in Spotify Technology by 42.3% in 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 during the last quarter. GAMMA Investing LLC increased its stake in Spotify Technology by 75,856.5% in the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after purchasing an additional 716,844 shares during the last quarter. Nuveen LLC purchased a new position in Spotify Technology in the first quarter valued at approximately $383,139,000. Finally, Axiom Investors LLC DE increased its stake in Spotify Technology by 216.8% in the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock valued at $395,847,000 after purchasing an additional 492,504 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SPOT. BNP Paribas Exane assumed coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They issued an "outperform" rating and a $900.00 price target on the stock. Benchmark lowered their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Pivotal Research raised their target price 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. The Goldman Sachs Group raised their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Wells Fargo & Company raised their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $726.84.

Spotify Technology Stock Performance

Spotify Technology stock opened at $708.96 on Thursday. Spotify Technology has a one year low of $362.31 and a one year high of $785.00. The business has a fifty day moving average of $693.82 and a two-hundred day moving average of $656.50. The company has a market cap of $145.13 billion, a P/E ratio of 172.08, a price-to-earnings-growth ratio of 3.09 and a beta of 1.71.

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 analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the business posted $1.33 EPS. Spotify Technology's revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts predict 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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