Spotify Technology $SPOT Shares Acquired by Laffer Tengler Investments Inc.

Key Points

• Laffer Tengler Investments Inc. increased its investment in Spotify Technology by 4.5% during the first quarter, holding 13,660 shares valued at approximately $7.5 million, making it the fund's 23rd largest holding.
• A significant number of institutional investors have also raised their stakes in Spotify, with Wealth Enhancement Advisory Services LLC increasing its holdings by 238.8% to over 25,000 shares, demonstrating growing confidence in the company's prospects.
• Analysts have set various price targets for Spotify, with Bank of America raising its target to $900, while the average target across 30 analysts is approximately $720, indicating a generally positive outlook for the stock.

Laffer Tengler Investments Inc. boosted its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,660 shares of the company's stock after purchasing an additional 584 shares during the quarter. Spotify Technology makes up approximately 1.6% of Laffer Tengler Investments Inc.'s holdings, making the stock its 23rd largest holding. Laffer Tengler Investments Inc.'s holdings in Spotify Technology were worth $7,513,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently commented on SPOT. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Bank of America lifted their price target on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Benchmark reduced their price objective on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Oppenheimer raised their price objective on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, UBS Group lowered their price target on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Trading Down 1.9%

NYSE SPOT opened at $690.5170 on Friday. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00. The company has a fifty day simple moving average of $704.08 and a 200 day simple moving average of $641.06. The company has a market cap of $141.36 billion, a P/E ratio of 167.60, a P/E/G ratio of 3.03 and a beta of 1.69.

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). The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm's revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal 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.

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