Itau Unibanco Holding S.A. Buys New Holdings in Spotify Technology $SPOT

Key Points

• Itau Unibanco Holding S.A. has acquired a new stake in Spotify Technology, purchasing 1,807 shares valued at approximately $994,000.
• Spotify reported a net loss of ($0.42) earnings per share for the recent quarter, significantly missing analysts' expectations of $2.00.
• The company has a consensus target price of $720.07, with twenty investment analysts rating the stock as a Buy.

Itau Unibanco Holding S.A. bought a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,807 shares of the company's stock, valued at approximately $994,000.

Other large investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Spotify Technology in the 4th quarter valued at $26,000. Tsfg LLC purchased a new stake in shares of Spotify Technology in the 1st quarter valued at $28,000. Copia Wealth Management purchased a new stake in shares of Spotify Technology in the 4th quarter valued at $29,000. Cornerstone Planning Group LLC boosted its holdings in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Benchmark dropped their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Bank of America boosted their target price 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. Oppenheimer boosted their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Finally, Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Twenty equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Trading Down 0.7%

NYSE:SPOT traded down $4.62 during trading hours on Monday, reaching $683.19. 1,004,079 shares of the company were exchanged, compared to its average volume of 1,712,580. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The firm has a market cap of $139.85 billion, a PE ratio of 165.82, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71. The stock's 50-day moving average is $701.49 and its 200-day moving average is $643.74.

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 (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%.Spotify Technology's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 EPS 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.