Northside Capital Management LLC Buys New Shares in Spotify Technology $SPOT

Key Points

• Northside Capital Management LLC has acquired a new stake in Spotify Technology worth approximately $331,000 by purchasing 432 shares during the second quarter.
• Spotify's latest quarterly earnings report revealed a net loss of ($0.42) EPS, missing the consensus estimate of $2.00, while the company reported a revenue of $4.94 billion, exceeding analysts' expectations.
• Several institutions increased their holdings in Spotify, including Goldman Sachs, which raised its stake by a staggering 1,151.0% within the first quarter alone.

Northside Capital Management LLC acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 432 shares of the company's stock, valued at approximately $331,000.

Several other large investors have also made changes to their positions in the business. Jennison Associates LLC lifted its position in shares of Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after acquiring an additional 1,262,614 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock worth $1,939,949,000 after acquiring an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the last quarter. Northern Trust Corp increased its stake in Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock worth $866,012,000 after acquiring an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden grew its stake in shares of Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after buying an additional 174,700 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 2.8%

Shares of SPOT opened at $717.57 on Wednesday. Spotify Technology has a 12 month low of $362.31 and a 12 month high of $785.00. The stock has a fifty day moving average price of $693.76 and a 200-day moving average price of $656.13. The firm has a market cap of $146.89 billion, a PE ratio of 174.17, a P/E/G ratio of 3.18 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS 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 business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SPOT shares. Wells Fargo & Company boosted their price target on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Bank of America boosted their price target on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. 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. upped their target price on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group upped their target price on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $726.84.

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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