Phoenix Financial Ltd. Invests $1.91 Million in Spotify Technology $SPOT

Key Points

• Phoenix Financial Ltd. has invested approximately $1.91 million in Spotify Technology by acquiring 2,606 shares in the second quarter.
• Notable hedge funds, including Goldman Sachs and Jennison Associates, have significantly increased their stakes in Spotify, reflecting growing institutional interest with 84.09% of the company's stock owned by institutional investors.
• Spotify Technology reported ($0.42) earnings per share, missing the consensus estimate of $2.00, despite a revenue of $4.94 billion that surpassed expectations.

Phoenix Financial Ltd. bought a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,606 shares of the company's stock, valued at approximately $1,905,000.

Several other hedge funds have also made changes to their positions in SPOT. Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 1,601,653 shares during the period. Jennison Associates LLC lifted its position in 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 purchasing an additional 1,262,614 shares during the period. Nuveen LLC acquired a new stake in Spotify Technology in the first quarter valued at about $383,139,000. Axiom Investors LLC DE lifted its position in Spotify Technology by 216.8% in the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock valued at $395,847,000 after purchasing an additional 492,504 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Spotify Technology by 39.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company's stock valued at $648,434,000 after purchasing an additional 336,162 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. KeyCorp reduced their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Benchmark reduced their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group raised their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Spotify Technology in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Trading Up 1.9%

NYSE SPOT opened at $688.54 on Wednesday. The firm's fifty day moving average price is $699.13 and its two-hundred day moving average price is $673.70. Spotify Technology has a 1 year low of $376.00 and a 1 year high of $785.00. The firm has a market capitalization of $140.95 billion, a P/E ratio of 167.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67.

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). The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. Spotify Technology's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

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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