The Manufacturers Life Insurance Company Increases Stock Position in Spotify Technology $SPOT

Key Points

• The Manufacturers Life Insurance Company increased its position in Spotify Technology by 50.3%, acquiring an additional 19,274 shares, bringing its total holdings to 57,610 shares valued at approximately $31.7 million.
• Spotify reported a quarterly earnings loss of ($0.42) EPS, missing analysts’ estimates, while its revenue of $4.94 billion surpassed expectations.
• Institutional investors now hold 84.09% of Spotify’s stock, reflecting strong interest in the company from various investment groups.

The Manufacturers Life Insurance Company increased its stake in Spotify Technology (NYSE:SPOT - Free Report) by 50.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,610 shares of the company's stock after purchasing an additional 19,274 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Spotify Technology were worth $31,687,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC bought a new position in shares of Spotify Technology during the 4th quarter valued at $26,000. Tsfg LLC purchased a new stake in Spotify Technology during the first quarter valued at $28,000. Copia Wealth Management bought a new position in Spotify Technology in the fourth quarter valued at about $29,000. Cornerstone Planning Group LLC lifted its holdings in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Finally, North Star Investment Management Corp. boosted its position in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 0.6%

Spotify Technology stock traded up $3.87 during mid-day trading on Friday, hitting $707.72. The stock had a trading volume of 1,210,930 shares, compared to its average volume of 1,303,138. Spotify Technology has a one year low of $319.07 and a one year high of $785.00. The firm has a market capitalization of $144.88 billion, a P/E ratio of 171.78, a P/E/G ratio of 3.04 and a beta of 1.71. The firm's 50 day moving average is $695.80 and its 200 day moving average is $645.82.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. Spotify Technology's revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPOT shares. Guggenheim reaffirmed a "buy" rating and set a $850.00 price target on shares of Spotify Technology in a research report on Wednesday. Benchmark reduced their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Rosenblatt Securities decreased their price target on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, KeyCorp reduced their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $720.07.

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.