Harbor Investment Advisory LLC Purchases 544 Shares of Spotify Technology $SPOT

Key Points

• Harbor Investment Advisory LLC increased its stake in Spotify Technology by 36.0%, acquiring an additional 544 shares, bringing its total holdings to 2,054 shares valued at approximately $1.58 million.
• Several hedge funds have modified their holdings in Spotify, with Focus Partners Wealth boosting its stake by 310.6%, now owning 7,543 shares valued at about $3.38 million.
• Wall Street analysts have given a consensus rating of "Moderate Buy" for Spotify's stock, with a target price averaging around $721.07.

Harbor Investment Advisory LLC grew its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 36.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,054 shares of the company's stock after acquiring an additional 544 shares during the period. Harbor Investment Advisory LLC's holdings in Spotify Technology were worth $1,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Focus Partners Wealth raised its stake in shares of Spotify Technology by 310.6% during the fourth quarter. Focus Partners Wealth now owns 7,543 shares of the company's stock valued at $3,375,000 after acquiring an additional 5,706 shares during the last quarter. Pathstone Holdings LLC raised its stake in shares of Spotify Technology by 8.1% during the fourth quarter. Pathstone Holdings LLC now owns 26,228 shares of the company's stock valued at $11,734,000 after acquiring an additional 1,970 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Spotify Technology by 20.4% during the fourth quarter. Quantinno Capital Management LP now owns 11,439 shares of the company's stock valued at $5,118,000 after acquiring an additional 1,939 shares during the last quarter. Raiffeisen Bank International AG bought a new position in shares of Spotify Technology during the fourth quarter valued at about $11,385,000. Finally, Square Peg Capital PTY Ltd. bought a new position in Spotify Technology in the fourth quarter worth about $13,531,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SPOT shares. Oppenheimer increased their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Barclays dropped their price target on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Benchmark dropped their price target on Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.07.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $696.91 on Friday. Spotify Technology has a fifty-two week low of $337.15 and a fifty-two week high of $785.00. The company has a 50 day simple moving average of $693.51 and a two-hundred day simple moving average of $648.87. The company has a market capitalization of $142.66 billion, a price-to-earnings ratio of 169.15, a P/E/G ratio of 2.97 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $1.33 EPS. Spotify Technology's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Company 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.

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT - Free Report).

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.