Spotify Technology $SPOT Stake Boosted by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in Spotify Technology by 163.2%, owning a total of 2,153 shares, worth approximately $1.18 million at the end of the quarter.
• Spotify reported a loss of $0.42 EPS for the quarter, missing analysts' estimates by $2.42, but revenue rose 10.1% to $4.94 billion.
• Analysts maintain a generally positive outlook for Spotify, with an average rating of "Moderate Buy" and a consensus price target of $720.07.

Bayforest Capital Ltd raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 163.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,153 shares of the company's stock after purchasing an additional 1,335 shares during the period. Spotify Technology accounts for 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 19th largest position. Bayforest Capital Ltd's holdings in Spotify Technology were worth $1,184,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Hartford Investment Management Co. lifted its position 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 worth $797,000 after purchasing an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Spotify Technology by 3.7% during 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 in the last quarter. HM Payson & Co. lifted its position in shares of Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares in the last quarter. North Star Investment Management Corp. lifted its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Adero Partners LLC lifted its position in shares of Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Down 1.9%

Shares of SPOT traded down $13.09 during mid-day trading on Thursday, hitting $691.00. The stock had a trading volume of 2,153,149 shares, compared to its average volume of 1,277,807. The company has a market cap of $141.45 billion, a PE ratio of 167.72, a PEG ratio of 3.03 and a beta of 1.71. The company's fifty day simple moving average is $694.05 and its two-hundred day simple moving average is $648.12. Spotify Technology has a fifty-two week low of $337.13 and a fifty-two week 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 for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm earned $1.33 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SPOT. Rosenblatt Securities reduced their target price on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Sanford C. Bernstein raised their price objective on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Finally, Canaccord Genuity Group raised their price objective on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.07.

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.