Nordea Investment Management AB Has $146.95 Million Holdings in Spotify Technology $SPOT

Key Points

• Nordea Investment Management AB increased its holdings in Spotify Technology by 17.1% in Q2, owning 193,180 shares worth approximately $146.95 million.
• Goldman Sachs raised its stake in Spotify by a remarkable 1,151.0% during Q1, bringing its total ownership to about $957.49 million.
• Despite beating revenue expectations with $4.94 billion, Spotify reported a loss of ($0.42) earnings per share, missing the consensus estimate by ($2.42).

Nordea Investment Management AB increased its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 193,180 shares of the company's stock after buying an additional 28,277 shares during the quarter. Nordea Investment Management AB owned 0.09% of Spotify Technology worth $146,946,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SPOT. Goldman Sachs Group Inc. raised its stake in Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after buying an additional 1,601,653 shares during the period. Jennison Associates LLC increased its holdings in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. Nuveen LLC bought a new position in Spotify Technology during the 1st quarter worth about $383,139,000. Axiom Investors LLC DE increased its holdings in Spotify Technology by 216.8% during the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock worth $395,847,000 after purchasing an additional 492,504 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Spotify Technology by 39.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company's stock worth $648,434,000 after purchasing an additional 336,162 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $671.04 on Friday. The stock has a market capitalization of $137.37 billion, a price-to-earnings ratio of 162.87, a PEG ratio of 3.17 and a beta of 1.67. The business has a 50-day moving average of $699.44 and a 200-day moving average of $670.87. Spotify Technology has a fifty-two week low of $369.42 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business earned $1.33 EPS. Spotify Technology's revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of research reports. Barclays lowered their target price on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an "overweight" rating in a report on Monday, September 29th. Benchmark lowered their target price on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Spotify Technology in a report on Wednesday, October 8th. Finally, KeyCorp decreased their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

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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