Geneos Wealth Management Inc. Acquires 394 Shares of Spotify Technology $SPOT

Key Points

• Geneos Wealth Management Inc. increased its stake in Spotify Technology by 99.5%, acquiring an additional 394 shares in the first quarter, bringing their total holdings to 790 shares valued at $435,000.
• Institutional investors now own 84.09% of Spotify's stock, indicating significant confidence in the company's future performance.
• Recent analyst reports show diverse price targets for Spotify Technology, with Barclays lowering its target from $800.00 to $750.00, while Bank of America raised theirs from $700.00 to $900.00 with a "buy" rating.

Geneos Wealth Management Inc. grew its position in Spotify Technology (NYSE:SPOT - Free Report) by 99.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 790 shares of the company's stock after buying an additional 394 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Spotify Technology were worth $435,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth raised its position in shares of Spotify Technology by 194.5% in the 1st quarter. Focus Partners Wealth now owns 22,213 shares of the company's stock valued at $12,218,000 after buying an additional 14,670 shares in the last quarter. Plato Investment Management Ltd increased its position in Spotify Technology by 34.8% during the 1st quarter. Plato Investment Management Ltd now owns 4,159 shares of the company's stock worth $2,312,000 after purchasing an additional 1,074 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Spotify Technology during the 1st quarter worth approximately $470,000. Bayforest Capital Ltd increased its position in Spotify Technology by 163.2% in the 1st quarter. Bayforest Capital Ltd now owns 2,153 shares of the company's stock valued at $1,184,000 after acquiring an additional 1,335 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Spotify Technology by 39.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company's stock valued at $648,434,000 after acquiring an additional 336,162 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SPOT shares. Barclays decreased their price target 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. Wells Fargo & Company upped their price target on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. Bank of America upped their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $850.00 price objective on shares of Spotify Technology in a research note on Wednesday, September 3rd. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average target price of $721.07.

Spotify Technology Stock Up 1.0%

Shares of NYSE SPOT opened at $696.91 on Monday. The firm has a market cap of $142.66 billion, a PE ratio of 169.15, a P/E/G ratio of 2.99 and a beta of 1.71. Spotify Technology has a 12-month low of $337.15 and a 12-month high of $785.00. The company's fifty day simple moving average is $693.51 and its 200 day simple moving average is $649.61.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 the consensus estimate of $4.29 billion. During the same period last year, the business posted $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. On average, equities analysts predict that Spotify Technology will post 10.3 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.