Hsbc Holdings PLC Has $43.56 Million Stock Position in Spotify Technology $SPOT

Key Points

• Hsbc Holdings PLC has increased its stake in Spotify Technology by 11.4%, acquiring an additional 8,205 shares, bringing its total ownership to 80,485 shares valued at approximately $43.6 million.
• Spotify reported a loss of $0.42 earnings per share for the latest quarter, falling short of analysts' expectations, although it achieved a revenue of $4.94 billion, surpassing estimates.
• Several analysts raised their price targets for Spotify, with a consensus target price now set at $720.07 and 20 analysts rating the stock as a "Buy."

Hsbc Holdings PLC increased its stake in Spotify Technology (NYSE:SPOT - Free Report) by 11.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,485 shares of the company's stock after purchasing an additional 8,205 shares during the period. Hsbc Holdings PLC's holdings in Spotify Technology were worth $43,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Jennison Associates LLC boosted its stake in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Spotify Technology by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock worth $1,939,949,000 after purchasing an additional 112,553 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of 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 during the last quarter. Northern Trust Corp boosted its stake in shares of Spotify Technology by 10.3% during the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock worth $866,012,000 after buying an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden boosted its stake in shares of Spotify Technology by 12.6% during the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock worth $857,855,000 after buying an additional 174,700 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded up $3.2080 during trading hours on Friday, hitting $692.6780. 935,624 shares of the stock were exchanged, compared to its average volume of 2,695,361. The company has a market cap of $141.80 billion, a PE ratio of 168.20, a price-to-earnings-growth ratio of 2.98 and a beta of 1.69. The company's fifty day simple moving average is $703.72 and its two-hundred day simple moving average is $641.66. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business's revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on SPOT shares. Wells Fargo & Company increased their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group increased their price target on shares of Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. KeyCorp lowered their price target 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. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Finally, Sanford C. Bernstein increased their price target on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $720.07.

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.