Spotify Technology $SPOT Shares Bought by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC increased its stake in Spotify Technology by 14.8%, owning 2,746 shares valued at approximately $2.1 million after acquiring an additional 355 shares.
• Institutional investors and hedge funds collectively own 84.09% of Spotify's stock, indicating significant confidence in the company.
• Spotify's last earnings report showed a revenue of $4.94 billion but missed earnings per share estimates by $2.42, recording a net loss of ($0.42) per share.

Farther Finance Advisors LLC grew its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 14.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,746 shares of the company's stock after acquiring an additional 355 shares during the quarter. Farther Finance Advisors LLC's holdings in Spotify Technology were worth $2,107,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hartford Investment Management Co. boosted its holdings in shares of Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock valued at $797,000 after acquiring an additional 16 shares during the period. Stonekeep Investments LLC lifted its holdings in Spotify Technology by 2.1% in the second quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares during the period. Moody National Bank Trust Division lifted its holdings in Spotify Technology by 0.5% in the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after purchasing an additional 16 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in Spotify Technology by 3.7% in the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after purchasing an additional 17 shares during the period. Finally, HM Payson & Co. lifted its holdings in Spotify Technology by 39.1% in the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SPOT shares. Benchmark reduced their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Evercore ISI upped their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. UBS Group reduced their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. BNP Paribas Exane started coverage on shares of Spotify Technology in a report on Tuesday, September 16th. They issued an "outperform" rating and a $900.00 price objective for the company. Finally, Pivotal Research boosted their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.84.

Spotify Technology Price Performance

Shares of SPOT opened at $737.28 on Tuesday. The company has a market capitalization of $150.93 billion, a price-to-earnings ratio of 178.95, a P/E/G ratio of 3.16 and a beta of 1.71. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00. The business's 50-day moving average is $693.62 and its 200-day moving average is $655.70.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 business 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 for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.