Harbour Investments Inc. Acquires 1,898 Shares of Spotify Technology $SPOT

Key Points

• Harbour Investments Inc. significantly increased its stake in Spotify Technology by 935.0%, acquiring an additional 1,898 shares during the 2nd quarter, bringing its total holdings to 2,101 shares valued at $1,612,000.
• Goldman Sachs Group Inc. and other institutional investors have also increased their positions in Spotify, showcasing a trend with approximately 84.09% of the stock owned by institutional investors.
• Spotify recently reported disappointing earnings with an EPS of ($0.42), missing analysts' consensus of $2.00, while its revenue for the quarter was $4.94 billion, exceeding estimates.

Harbour Investments Inc. grew its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 935.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the company's stock after buying an additional 1,898 shares during the quarter. Harbour Investments Inc.'s holdings in Spotify Technology were worth $1,612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPOT. Goldman Sachs Group Inc. lifted its position in Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after buying an additional 1,601,653 shares in the last quarter. Jennison Associates LLC lifted its position in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares in the last quarter. Nuveen LLC bought a new stake in Spotify Technology during the 1st quarter worth about $383,139,000. Axiom Investors LLC DE lifted its position in Spotify Technology by 216.8% during the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock worth $395,847,000 after buying an additional 492,504 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Spotify Technology by 39.9% during 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 worth $648,434,000 after buying an additional 336,162 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPOT shares. KeyCorp dropped their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group cut shares of Spotify Technology from a "buy" rating to a "neutral" rating and upped their target price for the company from $765.00 to $770.00 in a report on Tuesday, September 30th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $679.00 target price on shares of Spotify Technology in a report on Wednesday, October 1st. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $740.00 to $805.00 and gave the company an "overweight" rating in a report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $731.16.

Spotify Technology Stock Performance

Shares of SPOT opened at $671.04 on Friday. Spotify Technology has a 52 week low of $369.42 and a 52 week high of $785.00. The firm has a market cap of $137.37 billion, a P/E ratio of 162.87, a price-to-earnings-growth ratio of 3.17 and a beta of 1.67. The firm's 50-day simple moving average is $699.44 and its 200 day simple moving average is $670.87.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly 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 company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.33 EPS. 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. As a group, equities analysts forecast that Spotify Technology will post 10.3 earnings per share 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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