Raymond James Financial Inc. Buys 2,741 Shares of Spotify Technology $SPOT

Key Points

• Raymond James Financial Inc. increased its stake in Spotify Technology by 2.2%, owning approximately 0.06% of the company, valued at nearly $69.9 million.
• Spotify's stock has an average price target of $720.07, with 20 analysts rating it as a Buy and 10 as a Hold.
• Despite a significant revenue increase, Spotify reported an EPS of ($0.42), missing expectations by $2.42 in its latest quarterly earnings.

Raymond James Financial Inc. raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,102 shares of the company's stock after purchasing an additional 2,741 shares during the quarter. Raymond James Financial Inc. owned approximately 0.06% of Spotify Technology worth $69,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 acquiring an additional 360 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of 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 acquiring an additional 1,179 shares during the last quarter. Fifth Third Bancorp increased its holdings 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 acquiring an additional 71 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Spotify Technology by 238.8% during the 1st 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. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Pivotal Research increased their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Bank of America increased their price objective on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Evercore ISI increased their price objective on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a report on Monday, June 16th. Cantor Fitzgerald increased their price objective on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, UBS Group lowered their price objective on 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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Price Performance

Shares of SPOT traded up $3.2080 during midday trading on Friday, hitting $692.6780. The stock had a trading volume of 935,624 shares, compared to its average volume of 2,736,379. The company has a 50 day simple moving average of $703.72 and a two-hundred day simple moving average of $641.66. The firm has a market cap of $141.80 billion, a price-to-earnings ratio of 168.13, a price-to-earnings-growth ratio of 2.98 and a beta of 1.69. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00.

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

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.