Spotify Technology $SPOT Stake Raised by SeaBridge Investment Advisors LLC

Key Points

• SeaBridge Investment Advisors LLC increased its stake in Spotify Technology by 2.8% during Q2, holding 16,177 shares now valued at approximately $12.4 million.
• Major hedge funds have significantly raised their holdings in Spotify, with Jennison Associates LLC increasing their stake by 42.3% in Q1, now owning over 4 million shares valued at over $2.3 billion.
• Analyst ratings for Spotify show strong confidence, with recent price targets reaching as high as $850, and a consensus rating of "Moderate Buy" based on multiple upgrades from various analysts.

SeaBridge Investment Advisors LLC lifted its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,177 shares of the company's stock after acquiring an additional 439 shares during the quarter. Spotify Technology accounts for approximately 2.3% of SeaBridge Investment Advisors LLC's investment portfolio, making the stock its 10th biggest holding. SeaBridge Investment Advisors LLC's holdings in Spotify Technology were worth $12,413,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Jennison Associates LLC boosted its stake in shares of Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after acquiring an additional 1,262,614 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Spotify Technology by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after buying an additional 112,553 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after buying an additional 1,601,653 shares in the last quarter. Northern Trust Corp lifted its stake in Spotify Technology by 10.3% in the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock valued at $866,012,000 after buying an additional 147,580 shares in the last quarter. Finally, Forsta AP Fonden lifted its stake in Spotify Technology by 12.6% in the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after buying an additional 174,700 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target 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. The Goldman Sachs Group raised their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Guggenheim reissued a "buy" rating and issued a $850.00 target price on shares of Spotify Technology in a research note on Wednesday, September 3rd. Sanford C. Bernstein raised their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Benchmark reduced their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $726.84.

Spotify Technology Trading Up 0.5%

Spotify Technology stock opened at $715.87 on Friday. The stock has a market cap of $146.55 billion, a P/E ratio of 173.76, a price-to-earnings-growth ratio of 3.06 and a beta of 1.71. The company has a fifty day simple moving average of $694.06 and a 200-day simple moving average of $659.48. Spotify Technology has a 12-month low of $362.31 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm 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 period last year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share 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.

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