Night Squared LP Takes $2.36 Million Position in Spotify Technology $SPOT

Key Points

• Night Squared LP acquired a new stake in Spotify Technology, purchasing 4,298 shares worth approximately $2.36 million during the first quarter.
• Several hedge funds and institutional investors increased their positions in Spotify, which is now primarily owned by 84.09% institutional investors.
• JPMorgan Chase & Co. and Canaccord Genuity both raised their price targets for Spotify shares significantly, reflecting growing investor confidence with a consensus target now at about $720.07.

Night Squared LP purchased a new position in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,298 shares of the company's stock, valued at approximately $2,364,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hartford Investment Management Co. increased its position in Spotify Technology by 1.1% in the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after buying an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in Spotify Technology by 3.7% in the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after buying an additional 17 shares in the last quarter. HM Payson & Co. grew its position in shares of 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 purchasing an additional 18 shares in the last quarter. Adero Partners LLC grew its position in shares of Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after purchasing an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

SPOT has been the subject of several research analyst reports. Evercore ISI increased their target price on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Oppenheimer increased their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Cantor Fitzgerald increased their target price on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Bank of America increased their target price on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Price Performance

Shares of NYSE:SPOT traded down $0.50 during trading on Thursday, hitting $696.83. The company had a trading volume of 351,864 shares, compared to its average volume of 2,241,230. The stock has a market cap of $142.65 billion, a price-to-earnings ratio of 169.34, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71. Spotify Technology has a one year low of $319.07 and a one year high of $785.00. The company has a fifty day simple moving average of $698.53 and a two-hundred day simple moving average of $644.75.

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 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 net margin of 4.76% and a return on equity of 13.67%. 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 business earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current 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.