Night Squared LP Buys New Holdings 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 bought a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,298 shares of the company's stock, valued at approximately $2,364,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. The Manufacturers Life Insurance Company acquired a new stake in Spotify Technology during the fourth quarter worth approximately $17,151,000. Freestone Grove Partners LP purchased a new position in shares of Spotify Technology during the fourth quarter worth approximately $10,021,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Spotify Technology during the fourth quarter worth approximately $58,169,000. AlTi Global Inc. grew its position in shares of Spotify Technology by 28.5% during the fourth quarter. AlTi Global Inc. now owns 1,798 shares of the company's stock worth $804,000 after acquiring an additional 399 shares during the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Spotify Technology by 29.7% during the fourth quarter. Benjamin Edwards Inc. now owns 5,672 shares of the company's stock worth $2,538,000 after acquiring an additional 1,298 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPOT shares. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Loop Capital raised their target price on shares of Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, 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 research report on Thursday, June 26th. Twenty equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $683.19 on Friday. The firm has a market capitalization of $139.85 billion, a P/E ratio of 165.82, a PEG ratio of 2.96 and a beta of 1.69. Spotify Technology has a one year low of $319.07 and a one year high of $785.00. The company's fifty day moving average is $701.49 and its two-hundred day moving average is $643.75.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company's quarterly revenue was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share 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.

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