62 Shares in Spotify Technology $SPOT Acquired by Truvestments Capital LLC

Truvestments Capital LLC purchased a new position in shares of Spotify Technology (NYSE:SPOT) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 62 shares of the company’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Jennison Associates LLC grew its holdings in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after purchasing an additional 112,553 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 during the period. Northern Trust Corp grew its holdings in Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock valued at $866,012,000 after purchasing an additional 147,580 shares during the period. Finally, Forsta AP Fonden grew its holdings in Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after purchasing an additional 174,700 shares during the period. 84.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SPOT shares. 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 report on Wednesday, July 30th. Barclays decreased their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Phillip Securities upgraded shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the company an “outperform” rating in a report on Monday, June 16th. Finally, DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price objective for the company in a report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $720.07.

Spotify Technology Stock Down 0.7%

Spotify Technology stock opened at $683.19 on Friday. The stock has a market capitalization of $139.85 billion, a PE ratio of 165.82, a price-to-earnings-growth ratio of 2.96 and a beta of 1.69. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The company has a 50 day moving average of $701.49 and a 200-day moving average of $643.75.

Spotify Technology (NYSE:SPOT) last released its quarterly 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). The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts anticipate 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.