Whittier Trust Co. Acquires 682 Shares of Spotify Technology $SPOT

Key Points

• Whittier Trust Co. has increased its holdings in Spotify Technology by 19.4%, owning 4,205 shares worth $3,227,000 after acquiring an additional 682 shares in Q2.
• Spotify reported a loss of ($0.42) earnings per share for the last quarter, missing expectations, despite revenue of $4.94 billion, surpassing analysts' predictions.
• Multiple brokerages have set new price targets for Spotify, with Guggenheim maintaining a "buy" rating and a target price of $850.00.

Whittier Trust Co. increased its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 19.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,205 shares of the company's stock after acquiring an additional 682 shares during the period. Whittier Trust Co.'s holdings in Spotify Technology were worth $3,227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sapient Capital LLC bought a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $322,000. Swedbank AB raised its position in Spotify Technology by 1.4% during the 1st quarter. Swedbank AB now owns 959,587 shares of the company's stock valued at $527,802,000 after purchasing an additional 13,458 shares in the last quarter. Legacy Capital Group California Inc. raised its position in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company's stock valued at $2,990,000 after purchasing an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC raised its position in Spotify Technology by 36.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock valued at $1,576,000 after purchasing an additional 544 shares in the last quarter. Finally, Annex Advisory Services LLC raised its position in Spotify Technology by 56.9% during the 2nd quarter. Annex Advisory Services LLC now owns 53,984 shares of the company's stock valued at $41,424,000 after purchasing an additional 19,577 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 1.9%

Shares of NYSE:SPOT opened at $688.54 on Wednesday. Spotify Technology has a 12-month low of $376.00 and a 12-month high of $785.00. The business's fifty day simple moving average is $699.13 and its 200-day simple moving average is $673.70. The company has a market capitalization of $140.95 billion, a PE ratio of 167.12, a P/E/G ratio of 3.22 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its 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 return on equity of 13.67% and a net margin of 4.76%.The business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter last year, the firm earned $1.33 earnings per share. The firm's quarterly revenue 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 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPOT. Guggenheim reaffirmed a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research report on Wednesday, September 3rd. UBS Group decreased their target price on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $740.00 to $805.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Phillip Securities raised Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. Finally, BNP Paribas upgraded Spotify Technology to a "strong-buy" rating in a report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

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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