Amundi Purchases 17,597 Shares of Spotify Technology $SPOT

Key Points

• Amundi has increased its stake in Spotify Technology by 2.3%, now owning 767,627 shares valued at $428.66 million.
• Spotify's stock received multiple upgrades from analysts, with Bank of America raising its price target from $700 to $900 and maintaining a "buy" rating.
• Despite reporting earnings per share of -$0.42, missing estimates, Spotify's revenue was $4.94 billion, exceeding expectations, marking a 10.1% increase from the same quarter last year.

Amundi boosted its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 767,627 shares of the company's stock after buying an additional 17,597 shares during the quarter. Amundi owned 0.37% of Spotify Technology worth $428,658,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC acquired a new stake in shares of Spotify Technology during the 4th quarter valued at $26,000. Tsfg LLC acquired a new position in Spotify Technology during the 1st quarter worth $28,000. Copia Wealth Management acquired a new position in Spotify Technology during the 4th quarter worth $29,000. Cornerstone Planning Group LLC lifted its position in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after acquiring an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its position in Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SPOT shares. DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a report on Wednesday, July 30th. Barclays dropped their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. Rosenblatt Securities lowered 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 note on Wednesday, July 30th. Finally, Bank of America upped their target price 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. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Price Performance

SPOT traded up $11.50 during mid-day trading on Monday, hitting $718.69. The stock had a trading volume of 1,174,921 shares, compared to its average volume of 2,234,858. Spotify Technology has a 1-year low of $322.35 and a 1-year high of $785.00. The stock's fifty day simple moving average is $695.80 and its 200-day simple moving average is $645.82. The firm has a market capitalization of $147.12 billion, a price-to-earnings ratio of 174.44, a price-to-earnings-growth ratio of 3.04 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results 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). 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 during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the firm posted $1.33 earnings per share. The firm's quarterly revenue was up 10.1% on a year-over-year basis. 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.

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.