Legal & General Group Plc Acquires 20,565 Shares of Spotify Technology $SPOT

Legal & General Group Plc lifted its stake in Spotify Technology (NYSE:SPOT) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,108,856 shares of the company’s stock after purchasing an additional 20,565 shares during the period. Legal & General Group Plc owned about 0.54% of Spotify Technology worth $850,870,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of Spotify Technology by 21.2% during the first quarter. Private Advisor Group LLC now owns 3,951 shares of the company’s stock valued at $2,173,000 after acquiring an additional 692 shares in the last quarter. Oak Thistle LLC purchased a new position in Spotify Technology during the 1st quarter worth $356,000. Venturi Wealth Management LLC raised its position in Spotify Technology by 24.1% during the 1st quarter. Venturi Wealth Management LLC now owns 1,901 shares of the company’s stock valued at $1,046,000 after purchasing an additional 369 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Spotify Technology by 38.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 1,384 shares of the company’s stock worth $761,000 after buying an additional 384 shares during the period. Finally, Machina Capital S.A.S. grew its position in shares of Spotify Technology by 95.7% during the 1st quarter. Machina Capital S.A.S. now owns 3,150 shares of the company’s stock worth $1,733,000 after buying an additional 1,540 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on SPOT. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Citigroup boosted their price objective on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. BNP Paribas Exane began coverage on Spotify Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 target price on the stock. UBS Group reduced their price target 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. Finally, Cantor Fitzgerald raised their price objective on Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $590.68 on Friday. The business’s 50-day moving average is $672.31 and its 200 day moving average is $683.93. Spotify Technology has a 1 year low of $443.21 and a 1 year high of $785.00. The firm has a market capitalization of $121.62 billion, a P/E ratio of 92.87, a P/E/G ratio of 2.04 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. On average, analysts expect that Spotify Technology will post 10.3 EPS for the current 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.