Spotify Technology $SPOT Position Boosted by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Spotify Technology by 87.2%, owning 38,660 shares valued at approximately $21.26 million after acquiring an additional 18,006 shares.
• Institutional investors and hedge funds own 84.09% of Spotify's stock, highlighting strong institutional interest in the company.
• Wall Street analysts have mixed outlooks for Spotify, with a consensus rating of "Moderate Buy" and an average target price of $720.07 despite some price target reductions from various firms.

Panagora Asset Management Inc. increased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 87.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,660 shares of the company's stock after purchasing an additional 18,006 shares during the quarter. Panagora Asset Management Inc.'s holdings in Spotify Technology were worth $21,264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hartford Investment Management Co. increased its position in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after buying an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after buying an additional 17 shares in the last quarter. HM Payson & Co. increased its position in Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after buying an additional 18 shares in the last quarter. North Star Investment Management Corp. grew its position in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the period. Finally, Adero Partners LLC grew its position in shares of Spotify Technology by 0.7% in the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock valued at $1,449,000 after purchasing an additional 19 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a research report on Wednesday, July 30th. Pivotal Research lifted their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Finally, Canaccord Genuity Group lifted their price objective on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Twenty analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Trading Up 1.1%

Shares of SPOT traded up $8.00 during midday trading on Friday, reaching $711.85. 668,754 shares of the company were exchanged, compared to its average volume of 2,237,623. The stock has a 50-day moving average price of $697.10 and a 200-day moving average price of $645.20. The company has a market cap of $145.72 billion, a price-to-earnings ratio of 172.78, a P/E/G ratio of 3.00 and a beta of 1.71. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00.

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

Spotify Technology Company 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.