Prudential Financial Inc. Has $18.19 Million Stock Position in Spotify Technology $SPOT

Prudential Financial Inc. increased its holdings in shares of Spotify Technology (NYSE:SPOT) by 28.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,704 shares of the company’s stock after purchasing an additional 5,193 shares during the period. Prudential Financial Inc.’s holdings in Spotify Technology were worth $18,189,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Goldman Sachs Group Inc. boosted its stake in shares of Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the period. Nuveen LLC acquired a new stake in Spotify Technology during the 1st quarter valued at $383,139,000. Axiom Investors LLC DE boosted its position in Spotify Technology by 216.8% during the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock worth $395,847,000 after purchasing an additional 492,504 shares during the period. Bessemer Group Inc. increased its holdings in shares of Spotify Technology by 215.3% in the second quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock valued at $387,758,000 after purchasing an additional 345,048 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Spotify Technology by 39.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock valued at $648,434,000 after purchasing an additional 336,162 shares during the period. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Up 1.4%

Shares of SPOT stock opened at $593.92 on Thursday. The stock has a market cap of $122.28 billion, a P/E ratio of 93.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.67. Spotify Technology has a 1 year low of $443.21 and a 1 year high of $785.00. The stock has a 50 day simple moving average of $663.06 and a 200 day simple moving average of $682.51.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. Analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spotify Technology in a report on Tuesday. Pivotal Research reduced their price objective on Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Oppenheimer lifted their price target on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. Finally, Morgan Stanley reduced their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $758.86.

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.