Zurich Insurance Group Ltd FI Increases Holdings in Spotify Technology $SPOT

Key Points

• Zurich Insurance Group Ltd FI significantly increased its stake in Spotify Technology by 62.1%, acquiring an additional 48,083 shares, bringing their total ownership to 125,485 shares valued at approximately $68.98 million.
• Despite Spotify's revenue increasing by 10.1% year-over-year to $4.94 billion, it reported an earnings per share (EPS) of ($0.42), falling short of analysts' expectations.
• Majority of analysts rate Spotify as a "Moderate Buy", with an average price target of $720.07, reflecting a mix of optimism and cautious sentiment regarding the stock's performance.

Zurich Insurance Group Ltd FI lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 62.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,485 shares of the company's stock after buying an additional 48,083 shares during the period. Zurich Insurance Group Ltd FI owned about 0.06% of Spotify Technology worth $68,984,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $26,000. Tsfg LLC purchased a new position in shares of Spotify Technology during the first quarter valued at approximately $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price on the stock in a research report on Wednesday, July 30th. Benchmark dropped their price target on Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. The Goldman Sachs Group lifted their price target on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Wells Fargo & Company lifted their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. Twenty investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $721.07.

Spotify Technology Price Performance

Shares of SPOT traded down $13.09 during mid-day trading on Thursday, hitting $691.00. The stock had a trading volume of 2,153,149 shares, compared to its average volume of 1,277,807. The firm has a market cap of $141.45 billion, a P/E ratio of 167.72, a PEG ratio of 3.03 and a beta of 1.71. The business has a fifty day moving average price of $694.05 and a 200-day moving average price of $648.12. Spotify Technology has a 52 week low of $337.13 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results 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). The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business's quarterly revenue was up 10.1% compared to the same quarter last year. 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, research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.