Northwestern Mutual Wealth Management Co. Acquires 11,077 Shares of Spotify Technology $SPOT

Northwestern Mutual Wealth Management Co. grew its stake in shares of Spotify Technology (NYSE:SPOT) by 40.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,635 shares of the company’s stock after purchasing an additional 11,077 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Spotify Technology were worth $29,646,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sapient Capital LLC purchased a new position in Spotify Technology in the second quarter valued at $322,000. Integrated Wealth Concepts LLC boosted its stake in shares of Spotify Technology by 39.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after acquiring an additional 769 shares in the last quarter. Swedbank AB grew its position in shares of 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 acquiring an additional 13,458 shares during the period. Legacy Capital Group California Inc. grew its position in shares of 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 acquiring an additional 2,049 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Spotify Technology in the 2nd quarter valued at about $18,877,000. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPOT. 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 price target on the stock. Pivotal Research reduced their target price on Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Citigroup lifted their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Argus began coverage on shares of Spotify Technology in a report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $758.86.

Spotify Technology Trading Up 1.1%

NYSE:SPOT opened at $599.11 on Friday. The company has a market cap of $123.35 billion, a P/E ratio of 94.20, a P/E/G ratio of 1.98 and a beta of 1.67. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The company’s 50-day moving average price is $657.55 and its 200-day moving average price is $682.18.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the prior year, the firm earned $1.45 EPS. Spotify Technology’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 earnings per share for the current 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.