State of Wyoming Grows Holdings in Spotify Technology $SPOT

Key Points

• The State of Wyoming increased its investment in Spotify Technology by 80.9% during the first quarter, now holding 4,480 shares valued at $2.46 million.
• Spotify Technology's reported earnings per share (EPS) for the last quarter were ($0.42), missing analysts' expectations significantly, while revenue rose by 10.1% year-over-year.
• Research analysts have recently adjusted price targets for Spotify, with an average target of $720.07, where twenty analysts rated the stock as a Buy.

State of Wyoming raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 80.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,480 shares of the company's stock after purchasing an additional 2,004 shares during the period. Spotify Technology comprises about 0.3% of State of Wyoming's investment portfolio, making the stock its 21st largest position. State of Wyoming's holdings in Spotify Technology were worth $2,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in shares of Spotify Technology by 36.3% during the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock valued at $391,000 after acquiring an additional 189 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Spotify Technology by 38.1% during the 1st quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock valued at $718,000 after acquiring an additional 360 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Spotify Technology by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock valued at $4,699,000 after acquiring an additional 1,179 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Spotify Technology by 30.7% during the 1st quarter. Fifth Third Bancorp now owns 302 shares of the company's stock valued at $166,000 after acquiring an additional 71 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Spotify Technology by 238.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock valued at $13,993,000 after acquiring an additional 17,932 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Benchmark dropped their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Evercore ISI increased their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Finally, Pivotal Research increased their target price 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. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Price Performance

NYSE SPOT traded down $4.62 on Friday, reaching $683.19. The company had a trading volume of 1,004,079 shares, compared to its average volume of 1,712,580. The firm has a market capitalization of $139.85 billion, a PE ratio of 165.82, a P/E/G ratio of 2.93 and a beta of 1.71. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00. The firm has a 50-day moving average of $701.49 and a 200-day moving average of $643.74.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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 company had revenue of $4.94 billion during 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%.The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Spotify Technology will post 10.3 EPS 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.