Spotify Technology $SPOT Shares Purchased by JAT Capital Mgmt LP

Key Points

• JAT Capital Mgmt LP increased its stake in Spotify Technology by 161.6% during the first quarter, owning a total of 2,226 shares valued at approximately $1.224 million.
• Spotify's shares opened at $683.19 with a market capitalization of $139.85 billion, while the stock has seen a 12-month range from a low of $319.07 to a high of $785.00.
• Despite missing analysts' earnings expectations with a reported EPS of (0.42), Spotify's revenue rose to $4.94 billion, exceeding the consensus estimate.

JAT Capital Mgmt LP raised its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 161.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,226 shares of the company's stock after acquiring an additional 1,375 shares during the quarter. Spotify Technology makes up 0.4% of JAT Capital Mgmt LP's investment portfolio, making the stock its 15th biggest holding. JAT Capital Mgmt LP's holdings in Spotify Technology were worth $1,224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SPOT. Jennison Associates LLC boosted its position in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Spotify Technology by 3.3% during 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 buying an additional 112,553 shares in the last quarter. Goldman Sachs Group Inc. raised 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 in the last quarter. Northern Trust Corp raised 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 in the last quarter. Finally, Forsta AP Fonden increased its stake in Spotify Technology by 12.6% in the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after purchasing an additional 174,700 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on SPOT. Phillip Securities raised Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. UBS Group decreased their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Evercore ISI lifted their target price on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Wells Fargo & Company lifted their target price on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Morgan Stanley cut their price objective on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. 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 MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Stock Up 0.6%

SPOT stock traded up $3.87 during midday trading on Friday, reaching $707.72. The company had a trading volume of 1,210,930 shares, compared to its average volume of 1,360,664. The stock has a 50 day moving average price of $695.80 and a 200 day moving average price of $645.73. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The firm has a market capitalization of $144.88 billion, a PE ratio of 171.78, a P/E/G ratio of 3.03 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 business 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts predict 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.