Meyer Handelman Co. Takes Position in Spotify Technology $SPOT

Key Points

• Meyer Handelman Co. made a new investment in Spotify Technology, acquiring 564 shares valued at approximately $433,000.
• Institutional investors now own 84.09% of Spotify's stock, indicating strong institutional interest in the company.
• Spotify's recent earnings report showed a net margin of 4.76% and revenue of $4.94 billion, surpassing analyst expectations.

Meyer Handelman Co. purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 564 shares of the company's stock, valued at approximately $433,000.

A number of other institutional investors also recently modified their holdings of SPOT. Hartford Investment Management Co. raised its holdings in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after acquiring an additional 16 shares in the last quarter. Stonekeep Investments LLC raised its holdings in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after acquiring an additional 16 shares in the last quarter. Moody National Bank Trust Division raised its holdings in Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after acquiring an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after acquiring an additional 17 shares in the last quarter. Finally, HM Payson & Co. raised its holdings in Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after acquiring an additional 18 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SPOT shares. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Pivotal Research upped their target price on Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Wells Fargo & Company upped their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Evercore ISI upped their price objective on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, JPMorgan Chase & Co. upped their price objective on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $726.84.

Spotify Technology Trading Up 0.5%

Spotify Technology stock opened at $715.87 on Friday. Spotify Technology has a 12 month low of $362.31 and a 12 month high of $785.00. The stock's 50 day moving average is $694.06 and its 200-day moving average is $659.48. The company has a market capitalization of $146.55 billion, a price-to-earnings ratio of 173.76, a PEG ratio of 3.06 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $1.33 EPS. 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. As a group, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal 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.

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