Spotify Technology $SPOT is Axiom Investors LLC DE's 7th Largest Position

Axiom Investors LLC DE raised its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 216.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 719,682 shares of the company's stock after purchasing an additional 492,504 shares during the quarter. Spotify Technology accounts for 3.7% of Axiom Investors LLC DE's portfolio, making the stock its 7th largest position. Axiom Investors LLC DE owned approximately 0.35% of Spotify Technology worth $395,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Napa Wealth Management acquired a new position in shares of Spotify Technology in the 1st quarter valued at about $268,000. SVB Wealth LLC lifted its holdings in shares of Spotify Technology by 29.1% in the 1st quarter. SVB Wealth LLC now owns 656 shares of the company's stock valued at $361,000 after buying an additional 148 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Spotify Technology by 27.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 981 shares of the company's stock valued at $550,000 after purchasing an additional 214 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Spotify Technology by 16.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 27,558 shares of the company's stock valued at $15,158,000 after purchasing an additional 3,895 shares in the last quarter. Finally, Groupe la Francaise purchased a new position in shares of Spotify Technology in the 1st quarter valued at about $13,337,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPOT shares. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. Citigroup lifted their price target on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. 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 note on Wednesday, June 18th. Finally, DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $721.07.

Spotify Technology Stock Down 2.0%

SPOT traded down $14.74 during trading on Wednesday, reaching $704.43. The company's stock had a trading volume of 1,178,750 shares, compared to its average volume of 2,221,236. The firm has a fifty day simple moving average of $694.75 and a two-hundred day simple moving average of $647.11. Spotify Technology has a 1 year low of $326.00 and a 1 year high of $785.00. The company has a market cap of $144.20 billion, a price-to-earnings ratio of 170.98, a PEG ratio of 3.09 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates 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 period last year, the business earned $1.33 earnings per share. The company'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, equities analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal 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.