LGT Fund Management Co Ltd. Purchases 8,370 Shares of Spotify Technology $SPOT

Key Points

• LGT Fund Management Co Ltd. increased its stake in Spotify Technology by 146.3%, purchasing an additional 8,370 shares in the second quarter, bringing its total holdings to 14,090 shares.
• Despite the increase in institutional holdings, Spotify Technology's stock is currently down 3.7% with a market cap of $139.50 billion and a price-to-earnings ratio of 165.40.
• Recent quarterly earnings revealed a loss of ($0.42) EPS, significantly missing analysts' expectations, although revenue grew by 10.1% year-over-year to $4.94 billion.

LGT Fund Management Co Ltd. increased its stake in Spotify Technology (NYSE:SPOT - Free Report) by 146.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,090 shares of the company's stock after purchasing an additional 8,370 shares during the quarter. Spotify Technology comprises about 0.9% of LGT Fund Management Co Ltd.'s holdings, making the stock its 24th largest position. LGT Fund Management Co Ltd.'s holdings in Spotify Technology were worth $10,812,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC grew its position in shares of 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 purchasing an additional 25 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of 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 purchasing an additional 41 shares in the last quarter. Tsfg LLC purchased a new position in shares of Spotify Technology in the first quarter valued at $28,000. North Star Investment Management Corp. grew its position in shares of 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 purchasing an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Spotify Technology in the first quarter valued at $34,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 3.7%

Spotify Technology stock opened at $681.46 on Friday. Spotify Technology has a 52 week low of $362.31 and a 52 week high of $785.00. The business has a 50-day simple moving average of $695.85 and a 200 day simple moving average of $664.29. The stock has a market cap of $139.50 billion, a price-to-earnings ratio of 165.40, a PEG ratio of 3.35 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the company posted $1.33 earnings per share. Spotify Technology's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the subject of several recent research reports. Sanford C. Bernstein lifted their price target on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Barclays reduced their price target on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Wells Fargo & Company lifted their price target on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a research report on Wednesday, July 30th. Finally, Canaccord Genuity Group boosted their target price on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average 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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