Kovitz Investment Group Partners LLC Buys 3,282 Shares of Spotify Technology $SPOT

Key Points

• Kovitz Investment Group Partners LLC boosted its holdings in Spotify Technology by 87.2% in the first quarter, owning a total of 7,045 shares valued at $3,875,000.
• Spotify Technology reported a loss per share of $0.42 for the most recent quarter but exceeded revenue expectations with $4.94 billion in earnings, marking a 10.1% year-over-year increase.
• Analysts have raised Spotify’s price targets significantly, with averages now between $720.07 and $850.00, reflecting strong confidence in the stock's performance, rated as a "Moderate Buy."

Kovitz Investment Group Partners LLC lifted its stake in Spotify Technology (NYSE:SPOT - Free Report) by 87.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,045 shares of the company's stock after purchasing an additional 3,282 shares during the period. Kovitz Investment Group Partners LLC's holdings in Spotify Technology were worth $3,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. NewEdge Advisors LLC increased its holdings in shares of Spotify Technology by 37.4% in the fourth quarter. NewEdge Advisors LLC now owns 9,199 shares of the company's stock valued at $4,115,000 after purchasing an additional 2,505 shares in the last quarter. Capital International Investors increased its holdings in shares of Spotify Technology by 2,063.7% in the fourth quarter. Capital International Investors now owns 352,491 shares of the company's stock valued at $158,027,000 after purchasing an additional 336,200 shares in the last quarter. GeoWealth Management LLC increased its holdings in shares of Spotify Technology by 50.2% in the fourth quarter. GeoWealth Management LLC now owns 646 shares of the company's stock valued at $289,000 after purchasing an additional 216 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Spotify Technology by 14.4% in the fourth quarter. First Trust Advisors LP now owns 110,110 shares of the company's stock valued at $49,261,000 after purchasing an additional 13,878 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Spotify Technology by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 203,766 shares of the company's stock valued at $91,170,000 after purchasing an additional 2,719 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Price Performance

SPOT traded down $13.2730 during mid-day trading on Thursday, hitting $690.5170. The stock had a trading volume of 1,613,012 shares, compared to its average volume of 2,309,173. The stock's fifty day simple moving average is $704.31 and its 200-day simple moving average is $640.09. The firm has a market capitalization of $141.36 billion, a price-to-earnings ratio of 167.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.69. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion during 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 company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter 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 expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Rosenblatt Securities lowered their price target on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Oppenheimer raised their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday. Benchmark reduced their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Macquarie raised their price objective on shares of Spotify Technology from $600.00 to $665.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

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.