Next Century Growth Investors LLC Takes $1.67 Million Position in Spotify Technology $SPOT

Key Points

• Next Century Growth Investors LLC has acquired a new stake of 3,037 shares in Spotify Technology, valued at approximately $1.67 million, during the first quarter of the year.
• Spotify reported a net loss of ($0.42) earnings per share in its latest quarterly results, significantly missing the consensus estimate of $2.00, despite having a revenue of $4.94 billion which exceeded expectations.
• Several research firms have adjusted their target prices for Spotify, with ratings leaning towards "outperform" and an average price target of $720.07, indicating a generally positive outlook from analysts.

Next Century Growth Investors LLC bought a new position in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,037 shares of the company's stock, valued at approximately $1,670,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $26,000. Tsfg LLC acquired a new stake in shares of Spotify Technology in the first quarter worth $28,000. Copia Wealth Management acquired a new stake in shares of Spotify Technology in the fourth quarter worth $29,000. Cornerstone Planning Group LLC grew its position in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the period. Finally, North Star Investment Management Corp. grew its position in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SPOT has been the topic of several research reports. UBS Group decreased 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. Oppenheimer lifted their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Morgan Stanley dropped their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Bank of America lifted their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Evercore ISI lifted their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $4.62 during trading hours on Friday, hitting $683.19. The stock had a trading volume of 1,004,079 shares, compared to its average volume of 1,712,580. The firm's 50-day moving average price is $701.49 and its two-hundred day moving average price is $643.74. Spotify Technology has a 52 week low of $319.07 and a 52 week high of $785.00. The company has a market capitalization of $139.85 billion, a P/E ratio of 165.82, a P/E/G ratio of 2.93 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) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The firm'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, analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

About Spotify Technology

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.