Mirae Asset Global Investments Co. Ltd. Makes New $19.73 Million Investment in Spotify Technology $SPOT

Key Points

• Mirae Asset Global Investments purchased a new $19.73 million position in Spotify during the third quarter, acquiring 40,485 shares. Institutional investors collectively own 84.09% of the company.
• Analysts remain broadly positive, with Spotify receiving a “Moderate Buy” consensus rating and an average price target of $620.07, although individual targets range from $525 to $660.
• Spotify reported 16.3% year-over-year revenue growth, but quarterly EPS of $2.81 missed the $3.18 consensus estimate. Subscriber growth and potential AI initiatives support the outlook, while elevated valuation and earnings execution remain key risks.

Mirae Asset Global Investments Co. Ltd. purchased a new position in Spotify Technology (NYSE:SPOT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,485 shares of the company's stock, valued at approximately $19,732,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Pin Oak Investment Advisors Inc. acquired a new stake in Spotify Technology during the second quarter worth about $27,000. Whipplewood Advisors LLC boosted its position in shares of Spotify Technology by 423.1% during the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company's stock worth $33,000 after acquiring an additional 55 shares in the last quarter. Palladiem LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth approximately $34,000. Tsfg LLC increased its stake in Spotify Technology by 39.7% in the second quarter. Tsfg LLC now owns 81 shares of the company's stock valued at $37,000 after acquiring an additional 23 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Spotify Technology by 142.9% in the third quarter. Elevation Wealth Partners LLC now owns 85 shares of the company's stock valued at $41,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on SPOT shares. Weiss Ratings upgraded shares of Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. KeyCorp reduced their target price on Spotify Technology from $680.00 to $660.00 and set an "overweight" rating on the stock in a report on Thursday, October 1st. Citizens Jmp reiterated a "market outperform" rating and issued a $625.00 price target on shares of Spotify Technology in a research note on Friday, October 23rd. Wall Street Zen cut Spotify Technology from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, TD Cowen reissued a "hold" rating and set a $525.00 price target on shares of Spotify Technology in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $620.07.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $593.36 on Tuesday. The company has a market cap of $122.16 billion, a price-to-earnings ratio of 39.34, a PEG ratio of 1.66 and a beta of 1.61. The firm has a 50 day simple moving average of $531.87 and a 200 day simple moving average of $498.51. Spotify Technology has a one year low of $405.00 and a one year high of $668.49.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Thursday, October 22nd. The company reported $2.81 earnings per share for the quarter, missing analysts' consensus estimates of $3.18 by ($0.37). The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.64 billion. Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The business's quarterly revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.28 EPS. As a group, analysts expect that Spotify Technology will post 13.66 EPS for the current year.

Key Stories Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Subscriber growth and sector read-through supported the rally. Spotify gained 33% over six months, while a subscription beat from Universal Music provided a favorable read-across for the streaming industry. Spotify’s latest quarterly results also showed 6 million new premium subscribers—1 million above guidance—alongside 16% revenue growth and 15% operating-income growth. Spotify Is Up 33% in Six Months: Take Profits, or Buy More?
• Positive Sentiment: AI and international expansion offer additional growth avenues. Spotify reportedly plans to launch an AI music remix service within months and is emphasizing artist-led music as listening habits evolve in India. These initiatives could increase engagement, broaden Spotify’s product offering and support future monetization, although the financial impact remains unproven. Spotify to launch AI music remix service
• Neutral Sentiment: Analyst valuation remains constructive but not decisive. Spotify’s average price target is reported at $620.07, modestly above the recent trading level. Comparisons with Reddit are also prompting investors to reassess relative value among internet and software stocks, without establishing a clear new catalyst for SPOT. Spotify stock average price target
• Neutral Sentiment: A new podcast, The Top Five News, is now available on Spotify and Apple Podcasts. The launch adds content to Spotify’s catalog but is unlikely to materially affect near-term revenue or valuation. The Top Five News Show launches on Spotify
• Negative Sentiment: Valuation and earnings execution are key risks. Spotify trades at a high earnings multiple after its substantial advance. Its latest EPS of $2.81 missed the $3.18 consensus estimate, even though revenue was broadly in line, increasing the risk that investors take profits if growth slows or expectations rise further. Spotify Q3 report analysis

Insiders Place Their Bets

In other Spotify Technology news, CEO Gustav Söderström sold 20,910 shares of the company's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $530.13, for a total value of $11,085,018.30. Following the completion of the transaction, the chief executive officer owned 19,908 shares of the company's stock, valued at $10,553,828.04. This represents a 51.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.40% of the stock is owned by corporate insiders.

Spotify Technology Company Profile

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.

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