The Manufacturers Life Insurance Company Has $31.69 Million Stock Holdings in Spotify Technology $SPOT

The Manufacturers Life Insurance Company grew its position in Spotify Technology (NYSE:SPOT) by 50.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,610 shares of the company’s stock after buying an additional 19,274 shares during the period. The Manufacturers Life Insurance Company’s holdings in Spotify Technology were worth $31,687,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SPOT. Clough Capital Partners L P lifted its holdings in Spotify Technology by 194.1% during the first quarter. Clough Capital Partners L P now owns 2,812 shares of the company’s stock worth $1,547,000 after acquiring an additional 1,856 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Spotify Technology by 50.5% during the first quarter. Canada Pension Plan Investment Board now owns 350,323 shares of the company’s stock worth $192,688,000 after purchasing an additional 117,551 shares during the period. WPG Advisers LLC bought a new position in shares of Spotify Technology during the 1st quarter valued at about $192,000. State of Wyoming grew its position in shares of Spotify Technology by 80.9% in the 1st quarter. State of Wyoming now owns 4,480 shares of the company’s stock valued at $2,464,000 after purchasing an additional 2,004 shares during the period. Finally, Itau Unibanco Holding S.A. bought a new stake in Spotify Technology during the 1st quarter worth approximately $994,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target 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. Morgan Stanley dropped their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. upped their target price on shares of Spotify Technology from $730.00 to $780.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Cantor Fitzgerald lifted their price target on Spotify Technology from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Wednesday, June 18th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $720.07.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $683.19 on Tuesday. The company’s 50-day moving average price is $700.51 and its two-hundred day moving average price is $644.06. Spotify Technology has a one year low of $319.07 and a one year high of $785.00. The stock has a market capitalization of $139.85 billion, a PE ratio of 165.82, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the firm posted $1.33 EPS. Spotify Technology’s revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology 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.