Rivermont Capital Management LP Buys 10,529 Shares of Spotify Technology $SPOT

Key Points

• Rivermont Capital Management LP increased its stake in Spotify Technology by 37.5% in Q1, making it the firm's 3rd largest position with a holding of 38,629 shares valued at $21.2 million.
• Spotify reported earnings of ($0.42) EPS for the quarter, missing expectations, but achieved a revenue of $4.94 billion, exceeding analyst estimates.
• Wall Street analysts maintain a consensus price target of $720.07 for Spotify, with most ratings categorized as either Buy or Hold.

Rivermont Capital Management LP lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 37.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,629 shares of the company's stock after purchasing an additional 10,529 shares during the quarter. Spotify Technology accounts for about 9.0% of Rivermont Capital Management LP's portfolio, making the stock its 3rd largest position. Rivermont Capital Management LP's holdings in Spotify Technology were worth $21,247,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Goldman Sachs Group Inc. grew its holdings in shares of Spotify Technology by 1,151.0% during the 1st 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 during the last quarter. Jennison Associates LLC grew its holdings in shares of Spotify Technology by 42.3% during the 1st 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 last quarter. GAMMA Investing LLC grew its holdings in shares of Spotify Technology by 75,856.5% during the 1st 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 during the last quarter. Nuveen LLC bought a new stake in shares of Spotify Technology during the 1st quarter valued at approximately $383,139,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Spotify Technology by 311.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 842,745 shares of the company's stock valued at $377,027,000 after purchasing an additional 638,047 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Performance

Shares of NYSE SPOT traded down $13.09 during midday trading on Thursday, reaching $691.00. The stock had a trading volume of 2,153,149 shares, compared to its average volume of 1,277,807. Spotify Technology has a twelve month low of $337.13 and a twelve month high of $785.00. The company's 50 day moving average price is $694.05 and its 200 day moving average price is $648.12. The firm has a market cap of $141.45 billion, a price-to-earnings ratio of 167.72, 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 earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm's revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SPOT shares. Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Morgan Stanley reduced their target price on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Oppenheimer boosted their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $721.07.

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.