Stony Point Capital LLC Boosts Holdings in Spotify Technology $SPOT

Key Points

• Stony Point Capital LLC increased its stake in Spotify Technology by 163.8% during the 1st quarter, now holding 65,229 shares worth approximately $35.9 million.
• Major investors like Goldman Sachs and Jennison Associates also significantly boosted their holdings in Spotify, reflecting strong institutional interest as 84.09% of the stock is owned by institutional investors.
• Analysts have set varied price targets for Spotify, with an average target of $720.07 and a general recommendation of a "Moderate Buy" from research analysts.

Stony Point Capital LLC grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 163.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,229 shares of the company's stock after purchasing an additional 40,504 shares during the quarter. Spotify Technology makes up approximately 3.7% of Stony Point Capital LLC's investment portfolio, making the stock its 5th largest holding. Stony Point Capital LLC's holdings in Spotify Technology were worth $35,878,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPOT. Goldman Sachs Group Inc. increased its position in Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the period. Jennison Associates LLC grew its stake in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares in the last quarter. Janus Henderson Group PLC grew its stake in Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after buying an additional 861,232 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Spotify Technology by 75,856.5% in the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after purchasing an additional 716,844 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $383,139,000. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Oppenheimer raised their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Morgan Stanley cut their target price on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Barclays dropped their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Rosenblatt Securities decreased their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Finally, Wells Fargo & Company lifted their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Trading Down 0.8%

Shares of NYSE SPOT opened at $687.79 on Friday. The firm has a market capitalization of $140.80 billion, a P/E ratio of 166.94, a P/E/G ratio of 2.98 and a beta of 1.69. Spotify Technology has a 1-year low of $319.07 and a 1-year high of $785.00. The firm's 50-day moving average price is $701.98 and its 200-day moving average price is $643.34.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) 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 the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current 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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