Federation des caisses Desjardins du Quebec Buys 1,063 Shares of Spotify Technology $SPOT

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in Spotify Technology by 14.1% in the first quarter, holding stocks worth approximately $4.7 million.
• Spotify Technology's recent earnings report revealed a loss of ($0.42) EPS, significantly missing the expected consensus of $2.00, despite revenue exceeding forecasts at $4.94 billion.
• Analysts have mixed views on Spotify, with target prices ranging from $750 to $900, while the average rating is a "Moderate Buy" with a target price of $720.07.

Federation des caisses Desjardins du Quebec raised its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,626 shares of the company's stock after acquiring an additional 1,063 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Spotify Technology were worth $4,746,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in Spotify Technology by 36.3% in the first quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock valued at $391,000 after purchasing an additional 189 shares during the period. GAMMA Investing LLC increased its stake in shares of Spotify Technology by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock valued at $718,000 after buying an additional 360 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of Spotify Technology by 16.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock worth $4,699,000 after acquiring an additional 1,179 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Spotify Technology by 30.7% in the first quarter. Fifth Third Bancorp now owns 302 shares of the company's stock valued at $166,000 after acquiring an additional 71 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Spotify Technology by 238.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock valued at $13,993,000 after acquiring an additional 17,932 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPOT. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Wells Fargo & Company upped their price target on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. UBS Group lowered their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group upped their target price on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a report on Tuesday. Twenty equities 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 company has a consensus rating of "Moderate Buy" and a consensus price target of $721.07.

Spotify Technology Trading Up 0.2%

NYSE SPOT traded up $1.61 during mid-day trading on Tuesday, hitting $719.89. The company's stock had a trading volume of 941,907 shares, compared to its average volume of 2,225,969. The firm has a market capitalization of $147.37 billion, a price-to-earnings ratio of 174.73, a PEG ratio of 3.04 and a beta of 1.71. The company's 50 day simple moving average is $694.82 and its 200 day simple moving average is $646.60. Spotify Technology has a twelve month low of $324.16 and a twelve month high of $785.00.

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 for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the business posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Spotify Technology will post 10.3 EPS 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.