Spotify Technology $SPOT Shares Acquired by Whittier Trust Co. of Nevada Inc.

Key Points

• Whittier Trust Co. of Nevada Inc. increased its holdings in Spotify Technology by 43.8%, acquiring an additional 711 shares during the second quarter, with a total value of $1,792,000.
• Spotify reported earnings of ($0.42) EPS for the last quarter, significantly missing the consensus estimate of $2.00, while registering a revenue of $4.94 billion.
• Analysts have mixed ratings for Spotify, with price targets ranging from $652.00 to $900.00, reflecting varied expectations for the company's stock performance.

Whittier Trust Co. of Nevada Inc. increased its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 43.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,336 shares of the company's stock after acquiring an additional 711 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in Spotify Technology were worth $1,792,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SPOT. GAMMA Investing LLC increased its holdings in shares of Spotify Technology by 38.1% in 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 period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Spotify Technology by 16.0% in 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 period. Oppenheimer Asset Management Inc. increased its holdings in shares of Spotify Technology by 7.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,864 shares of the company's stock valued at $4,325,000 after acquiring an additional 543 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Spotify Technology by 523.7% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,863 shares of the company's stock valued at $1,575,000 after acquiring an additional 2,404 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of Spotify Technology by 3.3% in the 1st quarter. International Assets Investment Management LLC now owns 866 shares of the company's stock valued at $476,000 after acquiring an additional 28 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $674.73 on Thursday. The firm has a market capitalization of $138.12 billion, a P/E ratio of 163.77, a PEG ratio of 3.29 and a beta of 1.67. Spotify Technology has a one year low of $376.00 and a one year high of $785.00. The company's fifty day moving average is $698.72 and its two-hundred day moving average is $673.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its 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 company had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. KeyCorp dropped their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a research note on Wednesday, July 30th. Argus started coverage on shares of Spotify Technology in a research note on Monday, September 29th. They issued a "buy" rating and a $845.00 price objective on the stock. Finally, Bank of America boosted their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $731.16.

About Spotify Technology

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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