Spotify Technology $SPOT Shares Bought by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its holdings in Spotify Technology by 6.2% during the first quarter, now owning a total of 10,849 shares valued at approximately $5.97 million.
• Spotify Technology reported earnings of ($0.42) EPS for the most recent quarter, missing analyst expectations of $2.00, although revenue grew by 10.1% year-over-year to $4.94 billion.
• The stock has a market capitalization of $149.79 billion and an average target price of $718.90, with several analysts issuing "buy" ratings for the stock.

Cresset Asset Management LLC raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,849 shares of the company's stock after acquiring an additional 632 shares during the quarter. Cresset Asset Management LLC's holdings in Spotify Technology were worth $5,967,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its stake in Spotify Technology by 7.9% in the first quarter. State of New Jersey Common Pension Fund D now owns 70,986 shares of the company's stock worth $39,044,000 after acquiring an additional 5,200 shares during the last quarter. American Century Companies Inc. lifted its stake in Spotify Technology by 40.7% in the first quarter. American Century Companies Inc. now owns 332,512 shares of the company's stock worth $182,892,000 after acquiring an additional 96,152 shares during the last quarter. Ethic Inc. lifted its stake in Spotify Technology by 48.3% in the first quarter. Ethic Inc. now owns 20,736 shares of the company's stock worth $11,441,000 after acquiring an additional 6,757 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Spotify Technology by 28.1% in the first quarter. EverSource Wealth Advisors LLC now owns 962 shares of the company's stock worth $529,000 after acquiring an additional 211 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in Spotify Technology by 45.7% in the first quarter. Aberdeen Group plc now owns 215,998 shares of the company's stock worth $116,634,000 after acquiring an additional 67,716 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Down 1.9%

SPOT stock traded down $13.2730 on Thursday, hitting $690.5170. The company's stock had a trading volume of 1,613,012 shares, compared to its average volume of 2,309,173. The firm has a 50 day moving average of $704.31 and a two-hundred day moving average of $640.09. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00. The stock has a market cap of $141.36 billion, a price-to-earnings ratio of 167.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. 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.

Analyst Ratings Changes

SPOT has been the subject of a number of recent research reports. Pivotal Research lifted their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Barclays reduced their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Finally, Phillip Securities upgraded shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $720.07.

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.