Foster Group Inc. Invests $292,000 in Spotify Technology $SPOT

Key Points

• Foster Group Inc. has invested approximately $292,000 in Spotify Technology, purchasing 381 shares during the second quarter.
• Multiple institutional investors have increased their positions in Spotify, with notable increases from Jennison Associates LLC (42.3%) and Goldman Sachs Group Inc. (1,151.0%).
• Analysts have set varying price targets for Spotify, with Barclays reducing their target to $750 and BNP Paribas Exane setting an outperform rating with a target of $900.

Foster Group Inc. bought a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 381 shares of the company's stock, valued at approximately $292,000.

Several other hedge funds have also made changes to their positions in the business. Jennison Associates LLC lifted 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 valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA lifted 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 valued at $1,939,949,000 after purchasing an additional 112,553 shares during the period. Goldman Sachs Group Inc. lifted 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 valued at $957,494,000 after purchasing an additional 1,601,653 shares during the period. Northern Trust Corp lifted 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 valued at $866,012,000 after purchasing an additional 147,580 shares during the period. Finally, Forsta AP Fonden lifted 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 valued at $857,855,000 after purchasing an additional 174,700 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SPOT. Barclays reduced their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Phillip Securities upgraded shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. Citigroup lifted their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. BNP Paribas Exane assumed coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 price target for the company. Finally, Oppenheimer lifted their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research 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 ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $726.84.

Spotify Technology Stock Up 0.3%

Shares of NYSE SPOT opened at $737.28 on Tuesday. Spotify Technology has a 52-week low of $362.31 and a 52-week high of $785.00. The firm has a fifty day moving average of $693.62 and a 200-day moving average of $655.70. The stock has a market capitalization of $150.93 billion, a PE ratio of 178.95, a P/E/G ratio of 3.16 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Spotify Technology will post 10.3 EPS 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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