Sumitomo Mitsui DS Asset Management Company Ltd Has $24.12 Million Holdings in Spotify Technology $SPOT

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd significantly increased its holdings in Spotify Technology by 104.6%, acquiring an additional 16,071 shares to reach a total of 31,429 shares valued at $24.1 million.
• Several institutional investors, including Goldman Sachs and GAMMA Investing, have also dramatically increased their stakes in Spotify, highlighting strong interest from major financial players.
• Spotify Technology reported a loss of $0.42 per share in its latest earnings release, missing expectations despite revenue growth of 10.1% year-over-year to $4.94 billion.

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 104.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,429 shares of the company's stock after purchasing an additional 16,071 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Spotify Technology were worth $24,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SPOT. Sapient Capital LLC acquired a new position in Spotify Technology in the second quarter worth approximately $322,000. Harbor Investment Advisory LLC grew its position in Spotify Technology by 36.0% in the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock worth $1,576,000 after buying an additional 544 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Spotify Technology by 39.8% in the first quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company's stock worth $1,486,000 after buying an additional 769 shares during the last quarter. Swedbank AB boosted its stake in Spotify Technology by 1.4% in the 1st quarter. Swedbank AB now owns 959,587 shares of the company's stock worth $527,802,000 after purchasing an additional 13,458 shares during the period. Finally, Little House Capital LLC acquired a new position in Spotify Technology in the 2nd quarter worth approximately $1,057,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $1.07 on Friday, hitting $735.19. 1,545,785 shares of the company were exchanged, compared to its average volume of 1,234,507. The company's 50 day moving average price is $693.21 and its two-hundred day moving average price is $653.48. Spotify Technology has a one year low of $362.00 and a one year high of $785.00. The firm has a market capitalization of $150.50 billion, a price-to-earnings ratio of 178.44, a PEG ratio of 3.16 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.67% and a net margin of 4.76%.The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Pivotal Research raised their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Bank of America raised their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities decreased their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research note 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. Finally, Sanford C. Bernstein raised their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $726.84.

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.