Spotify Technology $SPOT Stock Holdings Lifted by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in Spotify Technology by 24.2%, owning 306,872 shares worth approximately $168.79 million as of the latest quarter.
• Spotify reported a loss of $0.42 EPS in its latest earnings, significantly missing analysts' expectations of $2.00, although its revenue was up 10.1% year-over-year.
• Multiple research analysts have upgraded their ratings and target prices for Spotify, with Guggenheim raising its target from $800 to $850, indicating strong market confidence despite current stock fluctuations.

Royal Bank of Canada increased its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 24.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,872 shares of the company's stock after buying an additional 59,833 shares during the period. Royal Bank of Canada owned about 0.15% of Spotify Technology worth $168,791,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SPOT. Benjamin Edwards Inc. raised its position in shares of Spotify Technology by 29.7% in the fourth quarter. Benjamin Edwards Inc. now owns 5,672 shares of the company's stock valued at $2,538,000 after buying an additional 1,298 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of Spotify Technology by 1.5% in the fourth quarter. Baird Financial Group Inc. now owns 26,668 shares of the company's stock valued at $11,931,000 after buying an additional 404 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $13,810,000. Captrust Financial Advisors raised its position in shares of Spotify Technology by 4.4% in the fourth quarter. Captrust Financial Advisors now owns 43,630 shares of the company's stock valued at $19,519,000 after buying an additional 1,825 shares during the last quarter. Finally, Cercano Management LLC raised its position in shares of Spotify Technology by 28.7% in the fourth quarter. Cercano Management LLC now owns 1,347 shares of the company's stock valued at $603,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Benchmark cut 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. Pivotal Research boosted their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. KeyCorp dropped their price target 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. Guggenheim reaffirmed a "buy" rating and set a $850.00 price target on shares of Spotify Technology in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Price Performance

SPOT stock traded up $3.87 on Friday, hitting $707.72. 1,210,930 shares of the company were exchanged, compared to its average volume of 1,360,664. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The business's fifty day moving average is $695.80 and its two-hundred day moving average is $645.73. The stock has a market capitalization of $144.88 billion, a price-to-earnings ratio of 171.78, a price-to-earnings-growth ratio of 3.03 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data 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 business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $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 research analysts expect 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.