DekaBank Deutsche Girozentrale Has $47.62 Million Position in Spotify Technology $SPOT

Key Points

• DekaBank Deutsche Girozentrale increased its holdings in Spotify Technology by 9.7% during the 2nd quarter, raising its position to approximately $47.62 million.
• Analysts have upgraded Spotify's stock ratings, with price targets now set between $652.00 and $850.00, reflecting an overall sentiment of a Moderate Buy.
• Despite missing earnings expectations with a reported loss of ($0.42) EPS, Spotify's revenue increased by 10.1% year-over-year, totaling $4.94 billion for the quarter.

DekaBank Deutsche Girozentrale lifted its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 9.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,077 shares of the company's stock after acquiring an additional 5,394 shares during the period. DekaBank Deutsche Girozentrale's holdings in Spotify Technology were worth $47,622,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPOT. Joel Isaacson & Co. LLC increased its stake in Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company's stock valued at $1,190,000 after buying an additional 15 shares during the last quarter. Ignite Planners LLC increased its position in shares of Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company's stock valued at $489,000 after acquiring an additional 15 shares during the last quarter. Hartford Investment Management Co. lifted its holdings in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after acquiring an additional 16 shares during the period. Stonekeep Investments LLC lifted its holdings in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after acquiring an additional 16 shares during the period. Finally, Moody National Bank Trust Division boosted its position in Spotify Technology by 0.5% in the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SPOT shares. Sanford C. Bernstein lifted their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $740.00 to $805.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Wells Fargo & Company increased 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. Guggenheim reissued a "buy" rating and issued a $850.00 price target on shares of Spotify Technology in a research report on Wednesday, September 3rd. Finally, DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target on the stock in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Trading Up 1.9%

SPOT stock opened at $688.54 on Wednesday. The firm has a 50 day moving average of $699.13 and a 200-day moving average of $673.70. The firm has a market capitalization of $140.95 billion, a P/E ratio of 167.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67. Spotify Technology has a 12 month low of $376.00 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) 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 firm had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the company earned $1.33 earnings per share. The business's revenue for the quarter 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.

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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