Johnson Investment Counsel Inc. Buys New Stake in Spotify Technology $SPOT

Key Points

• Johnson Investment Counsel Inc. has purchased a new stake in Spotify, acquiring 386 shares valued at around $296,000 during the second quarter.
• Spotify Technology reported a loss of ($0.42) earnings per share for the last quarter, missing analysts' expectations, but achieved revenue of $4.94 billion, which exceeded estimates.
• Institutional investors currently own 84.09% of Spotify's stock, reflecting strong interest from hedge funds and significant changes in positions among various investors.

Johnson Investment Counsel Inc. bought a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 386 shares of the company's stock, valued at approximately $296,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tsfg LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Spotify Technology by 512.5% during 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 in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock valued at $31,000 after acquiring an additional 25 shares in the last quarter. GFG Capital LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at $33,000. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at $34,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

SPOT opened at $672.27 on Thursday. The company has a 50-day moving average of $700.64 and a 200-day moving average of $669.28. The company has a market capitalization of $137.62 billion, a P/E ratio of 163.17, a PEG ratio of 3.22 and a beta of 1.67. Spotify Technology has a 1-year low of $366.65 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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). The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. Morgan Stanley reduced their target price 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. UBS Group dropped their price target on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an "overweight" rating in a research note on Monday, September 29th. Barclays dropped their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, KeyCorp dropped their price target on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. One equities research 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 stock. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus target price of $731.16.

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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