Oak Ridge Investments LLC Grows Stock Position in Spotify Technology $SPOT

Key Points

• Oak Ridge Investments LLC increased its stake in Spotify Technology by 5.2%, holding 13,221 shares valued at approximately $10.15 million after acquiring 656 additional shares in Q2.
• Spotify reported a significant earnings miss with EPS of ($0.42), falling short of the consensus estimate of $2.00, despite revenue reaching $4.94 billion.
• Equity analysts have raised price targets for Spotify, with Deutsche Bank increasing its target from $700 to $775, reflecting a bullish outlook on the stock.

Oak Ridge Investments LLC boosted its position in Spotify Technology (NYSE:SPOT - Free Report) by 5.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,221 shares of the company's stock after buying an additional 656 shares during the quarter. Oak Ridge Investments LLC's holdings in Spotify Technology were worth $10,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Sapient Capital LLC purchased a new stake in Spotify Technology in the second quarter worth $322,000. Swedbank AB grew its position in shares of Spotify Technology by 1.4% in the first quarter. Swedbank AB now owns 959,587 shares of the company's stock valued at $527,802,000 after purchasing an additional 13,458 shares in the last quarter. Legacy Capital Group California Inc. grew its position in shares of Spotify Technology by 110.9% in the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company's stock valued at $2,990,000 after purchasing an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC grew its position in shares of Spotify Technology by 36.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock valued at $1,576,000 after purchasing an additional 544 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in shares of Spotify Technology by 39.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company's stock valued at $1,486,000 after purchasing an additional 769 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT opened at $685.66 on Friday. The firm has a market capitalization of $140.36 billion, a price-to-earnings ratio of 166.42, a P/E/G ratio of 3.24 and a beta of 1.67. Spotify Technology has a 52-week low of $364.26 and a 52-week high of $785.00. The stock has a fifty day moving average of $699.20 and a 200 day moving average of $667.63.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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). 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 last year, the firm earned $1.33 EPS. The company'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. Equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPOT shares. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. Cantor Fitzgerald lifted their price target on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Weiss Ratings reissued a "hold (c-)" rating on shares of Spotify Technology in a research note on Wednesday. Finally, Morgan Stanley dropped their price objective on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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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