United Services Automobile Association Invests $2.86 Million in Spotify Technology $SPOT

Key Points

• United Services Automobile Association has invested approximately $2.86 million in Spotify Technology by acquiring over 5,000 shares in the first quarter.
• Institutional ownership of Spotify Technology is strong, with 84.09% of the stock currently held by institutional investors and hedge funds.
• Despite reporting a loss of ($0.42) earnings per share, Spotify's revenue for the quarter exceeded expectations, reaching $4.94 billion compared to the consensus estimate of $4.29 billion.

United Services Automobile Association purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,087 shares of the company's stock, valued at approximately $2,855,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Goldman Sachs Group Inc. raised 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 valued at $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Janus Henderson Group PLC boosted its position 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 valued at $503,316,000 after acquiring an additional 861,232 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Spotify Technology by 75,856.5% during the first 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 during the period. Finally, Nuveen LLC acquired a new position in shares of Spotify Technology during the first quarter valued at about $383,139,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the topic of a number of analyst reports. DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price on the stock in a report on Wednesday, July 30th. UBS Group decreased their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group increased their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Oppenheimer increased their price objective 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. Finally, Morgan Stanley decreased their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Stock Up 0.6%

Spotify Technology stock opened at $707.72 on Monday. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The firm has a 50 day moving average price of $695.80 and a 200-day moving average price of $645.82. The company 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.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm's revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal 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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