Spotify Technology $SPOT Shares Acquired by Legal & General Group Plc

Legal & General Group Plc grew its holdings in Spotify Technology (NYSE:SPOT) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,108,856 shares of the company’s stock after acquiring an additional 20,565 shares during the period. Legal & General Group Plc’s holdings in Spotify Technology were worth $850,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Joel Isaacson & Co. LLC boosted its holdings in Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after buying an additional 15 shares during the last quarter. Ignite Planners LLC raised its stake in Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares during the last quarter. Hartford Investment Management Co. raised its stake in Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares during the last quarter. Stonekeep Investments LLC boosted its stake in Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $590.68 on Friday. The firm has a market cap of $121.62 billion, a PE ratio of 92.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.67. The company has a 50-day moving average of $672.31 and a two-hundred day moving average of $683.93. Spotify Technology has a 1-year low of $443.21 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (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 business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the firm earned $1.45 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SPOT shares. UBS Group lowered their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley cut their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. BNP Paribas upgraded Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Cantor Fitzgerald lifted their price target on Spotify Technology from $640.00 to $675.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company boosted their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.86.

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.