VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 24,600 Spotify Technology $SPOT

Key Points

• The Virginia Retirement Systems acquired 24,600 shares of Spotify Technology (NYSE: SPOT) valued at approximately $18.87 million.
• The stock currently has a consensus rating of "Moderate Buy" and a price target of $731.16 based on input from various analysts.
• Despite missing earnings expectations with a reported loss of ($0.42) EPS, Spotify's revenue for the quarter was up 10.1% year-over-year at $4.94 billion.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 24,600 shares of the company's stock, valued at approximately $18,877,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Joel Isaacson & Co. LLC boosted its stake in Spotify Technology by 1.0% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company's stock valued at $1,190,000 after acquiring an additional 15 shares during the last quarter. Ignite Planners LLC raised its holdings in shares of Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company's stock worth $489,000 after purchasing an additional 15 shares during the period. Hartford Investment Management Co. raised its holdings in shares of 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 purchasing an additional 16 shares during the period. Stonekeep Investments LLC raised its holdings in shares of Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in shares of Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after purchasing an additional 16 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPOT. UBS Group dropped their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. Oppenheimer increased their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a report on Monday, August 18th. Citigroup increased their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. Finally, Argus began coverage on shares of Spotify Technology in a report on Monday, September 29th. They set a "buy" rating and a $845.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

Spotify Technology Stock Up 1.0%

SPOT stock opened at $671.04 on Monday. Spotify Technology has a fifty-two week low of $369.42 and a fifty-two week high of $785.00. The firm's 50-day simple moving average is $699.44 and its 200 day simple moving average is $672.40. The stock has a market cap of $137.37 billion, a PE ratio of 162.87, a price-to-earnings-growth ratio of 3.20 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings data 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 return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the business earned $1.33 EPS. 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 forecast 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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