Point72 Italy S.r.l. Takes Position in Spotify Technology $SPOT

Key Points

• Point72 Italy S.r.l. acquired a new stake in Spotify Technology, purchasing 6,800 shares valued at approximately $3.74 million, making it the fund's 12th largest holding.
• Goldman Sachs Group Inc. significantly increased its position in Spotify by over 1,151%, now owning approximately 1.74 million shares worth nearly $957.5 million.
• Spotify's stock price has experienced fluctuations, with a 1-year low of $319.07 and a high of $785.00, currently trading around $683.19.

Point72 Italy S.r.l. bought a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,800 shares of the company's stock, valued at approximately $3,740,000. Spotify Technology accounts for about 3.7% of Point72 Italy S.r.l.'s holdings, making the stock its 12th largest holding.

Several other hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position 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 valued at $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Spotify Technology by 42.3% during 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Spotify Technology by 75,856.5% during the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after purchasing an additional 716,844 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Spotify Technology during the first quarter valued at approximately $383,139,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Evercore ISI lifted their price objective on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. 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 note on Wednesday, July 2nd. Guggenheim lifted their price objective on Spotify Technology from $800.00 to $850.00 and gave the company a "buy" rating in a research note on Monday, August 18th. Finally, Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. Twenty investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Price Performance

SPOT stock opened at $683.19 on Friday. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00. The business has a fifty day moving average price of $701.49 and a 200-day moving average price of $643.77. The stock has a market capitalization of $139.85 billion, a P/E ratio of 165.82, a P/E/G ratio of 2.93 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

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.

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