Oak Harvest Investment Services Purchases 1,413 Shares of Spotify Technology $SPOT

Key Points

• Oak Harvest Investment Services increased its stake in Spotify Technology by 26% during the first quarter, acquiring an additional 1,413 shares to bring their total holdings to 6,856 shares, valued at approximately $3.77 million.
• Spotify reported a net loss per share of ($0.42) in its latest quarterly earnings, significantly missing analysts' expectations of $2.00, while revenue reached $4.94 billion, exceeding the anticipated $4.29 billion.
• Recent analyst ratings show a consensus of "Moderate Buy" for Spotify with an average target price set at $720.07, indicating optimism despite fluctuating price targets from several firms.

Oak Harvest Investment Services increased its position in Spotify Technology (NYSE:SPOT - Free Report) by 26.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,856 shares of the company's stock after purchasing an additional 1,413 shares during the period. Oak Harvest Investment Services' holdings in Spotify Technology were worth $3,771,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SPOT. Cornerstone Planning Group LLC raised 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. Tsfg LLC bought a new position in Spotify Technology during the first quarter valued at approximately $28,000. North Star Investment Management Corp. increased its stake in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at $26,000. Finally, Copia Wealth Management bought a new stake in Spotify Technology in the fourth quarter worth $29,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of SPOT traded down $5.20 during trading hours on Thursday, hitting $687.79. The stock had a trading volume of 1,015,577 shares, compared to its average volume of 2,274,498. The stock has a market capitalization of $140.80 billion, a price-to-earnings ratio of 166.94, a P/E/G ratio of 3.00 and a beta of 1.69. The company's fifty day moving average is $702.44 and its two-hundred day moving average is $642.99. Spotify Technology has a 52 week low of $319.07 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $1.33 earnings per share. Spotify Technology's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. Loop Capital raised their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Cantor Fitzgerald boosted their price objective on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Wells Fargo & Company lifted their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Finally, Guggenheim increased their price objective on Spotify Technology from $800.00 to $850.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Twenty equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $720.07.

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.