Strs Ohio Invests $19.13 Million in Spotify Technology $SPOT

Key Points

• Strs Ohio has acquired a new stake in Spotify Technology, purchasing 34,774 shares valued at approximately $19.1 million during the first quarter of the year.
• Institutional investors currently hold 84.09% of Spotify's stock, with several firms, including Geneos Wealth Management and Focus Partners Wealth, significantly increasing their stakes in the company.
• Spotify reported a loss of $0.42 earnings per share for the last quarter, falling short of the consensus estimate, despite a significant revenue increase of 10.1% year-over-year.

Strs Ohio acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 34,774 shares of the company's stock, valued at approximately $19,127,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hartford Investment Management Co. increased its position in 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 buying an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake 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 valued at $262,000 after acquiring an additional 17 shares during the last quarter. HM Payson & Co. increased its position in Spotify Technology by 39.1% during the 1st 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. raised its stake in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. Finally, Adero Partners LLC lifted its holdings in Spotify Technology by 0.7% in the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company's stock valued at $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 Price Performance

NYSE SPOT traded up $35.77 on Thursday, reaching $742.96. The company had a trading volume of 1,495,590 shares, compared to its average volume of 2,195,233. Spotify Technology has a 1 year low of $348.96 and a 1 year high of $785.00. The firm has a 50-day moving average of $692.20 and a 200-day moving average of $651.03. The firm has a market capitalization of $152.09 billion, a PE ratio of 180.52, a P/E/G ratio of 3.03 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous 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 expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of recent research reports. Rosenblatt Securities lowered their price target on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Citigroup lifted their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 9th. Barclays cut their price target on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. KeyCorp reduced their target price on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target on the stock in a 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $726.84.

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.