Spotify Technology $SPOT Shares Bought by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC increased its stake in Spotify Technology shares by 48.6%, owning 61,800 shares valued at approximately $33.99 million, making Spotify its fourth biggest holding.
• Spotify reported a loss of $0.42 EPS for the last quarter, significantly missing the consensus estimate of $2.00, despite achieving a year-over-year revenue increase of 10.1% to $4.94 billion.
• Analysts remain bullish with twenty investment firms rating Spotify as a "Buy" and setting an average target price of $720.07, indicating positive sentiment towards the stock's potential recovery.

Atika Capital Management LLC raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 48.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,800 shares of the company's stock after acquiring an additional 20,200 shares during the quarter. Spotify Technology makes up 4.8% of Atika Capital Management LLC's portfolio, making the stock its 4th largest holding. Atika Capital Management LLC's holdings in Spotify Technology were worth $33,992,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Tsfg LLC bought a new position in shares of Spotify Technology during the first quarter valued at $28,000. North Star Investment Management Corp. lifted its holdings in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology during the fourth quarter valued at $26,000. Finally, Copia Wealth Management bought a new position in shares of Spotify Technology in the fourth quarter valued at about $29,000. 84.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price target on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. UBS Group cut their price target on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Pivotal Research lifted their price target on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Finally, DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Stock Performance

NYSE:SPOT traded up $3.2080 on Friday, hitting $692.6780. 935,624 shares of the stock were exchanged, compared to its average volume of 2,736,379. The stock has a market capitalization of $141.80 billion, a price-to-earnings ratio of 168.13, a P/E/G ratio of 2.98 and a beta of 1.69. Spotify Technology has a 52 week low of $319.07 and a 52 week high of $785.00. The company's 50-day moving average price is $703.72 and its 200 day moving average price is $641.66.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current 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.