Hobbs Group Advisors LLC Buys New Stake in Spotify Technology $SPOT

Key Points

• Hobbs Group Advisors LLC purchased a new stake in Spotify Technology, acquiring 506 shares valued at approximately $388,000 during the 2nd quarter.
• Several large investors have increased their holdings in Spotify, with Sound Income Strategies LLC raising their position by 156.3% in the second quarter alone.
• Analysts have recently raised their price targets for Spotify Technology, with Pivotal Research setting a new target price at $900 and maintaining a "buy" rating.

Hobbs Group Advisors LLC bought a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 506 shares of the company's stock, valued at approximately $388,000.

Other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in Spotify Technology by 156.3% in the second quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock valued at $31,000 after buying an additional 25 shares during the last quarter. GFG Capital LLC purchased a new position in Spotify Technology in the second quarter valued at $33,000. Cornerstone Planning Group LLC increased its holdings in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Tsfg LLC purchased a new position in Spotify Technology in the first quarter valued at $28,000. Finally, North Star Investment Management Corp. increased its holdings in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of several recent analyst reports. Pivotal Research increased their target price on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a report on Wednesday, July 30th. BNP Paribas Exane initiated coverage on Spotify Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 price objective on the stock. BNP Paribas raised Spotify Technology to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company 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 $685.66 on Friday. Spotify Technology has a fifty-two week low of $364.26 and a fifty-two week high of $785.00. The company has a market capitalization of $140.36 billion, a price-to-earnings ratio of 166.42, a price-to-earnings-growth ratio of 3.24 and a beta of 1.67. The firm has a 50-day simple moving average of $699.20 and a 200-day simple moving average of $667.63.

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 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 business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.33 EPS. Spotify Technology'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 forecast that Spotify Technology will post 10.3 EPS for the current 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.

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