Strs Ohio Acquires New Stake 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 stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,774 shares of the company's stock, valued at approximately $19,127,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geneos Wealth Management Inc. increased its holdings in Spotify Technology by 99.5% in the first quarter. Geneos Wealth Management Inc. now owns 790 shares of the company's stock valued at $435,000 after purchasing an additional 394 shares during the period. Focus Partners Wealth grew its holdings in Spotify Technology by 194.5% during the 1st quarter. Focus Partners Wealth now owns 22,213 shares of the company's stock worth $12,218,000 after acquiring an additional 14,670 shares during the period. Plato Investment Management Ltd grew its holdings in Spotify Technology by 34.8% during the 1st quarter. Plato Investment Management Ltd now owns 4,159 shares of the company's stock worth $2,312,000 after acquiring an additional 1,074 shares during the period. SageView Advisory Group LLC acquired a new stake in Spotify Technology during the 1st quarter worth about $470,000. Finally, Bayforest Capital Ltd grew its holdings in Spotify Technology by 163.2% during the 1st quarter. Bayforest Capital Ltd now owns 2,153 shares of the company's stock worth $1,184,000 after acquiring an additional 1,335 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the subject of a number of recent analyst reports. Phillip Securities upgraded Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. KeyCorp decreased their price target on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group cut their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $721.07.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $696.91 on Friday. Spotify Technology has a fifty-two week low of $337.15 and a fifty-two week high of $785.00. The stock has a market cap of $142.66 billion, a price-to-earnings ratio of 169.15, a PEG ratio of 2.97 and a beta of 1.71. The firm's 50-day simple moving average is $693.51 and its 200 day simple moving average is $648.87.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 the consensus estimate of $4.29 billion. During the same period in the previous year, the business posted $1.33 EPS. Spotify Technology's revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current year.

About Spotify Technology

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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