First Citizens Bank & Trust Co. Boosts Stake in Spotify Technology $SPOT

First Citizens Bank & Trust Co. increased its holdings in shares of Spotify Technology (NYSE:SPOT) by 7.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,077 shares of the company’s stock after acquiring an additional 78 shares during the period. First Citizens Bank & Trust Co.’s holdings in Spotify Technology were worth $826,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Tsfg LLC acquired a new stake in Spotify Technology in the first quarter valued at approximately $28,000. Cornerstone Planning Group LLC lifted its position in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares in the last quarter. Sound Income Strategies LLC grew its stake in Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after acquiring an additional 25 shares during the period. GFG Capital LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $33,000. Finally, Truvestments Capital LLC acquired a new position in Spotify Technology during the first quarter worth $34,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $645.22 on Friday. The stock has a market cap of $132.08 billion, a P/E ratio of 156.61, a P/E/G ratio of 3.21 and a beta of 1.67. The stock’s 50 day simple moving average is $696.53 and its 200-day simple moving average is $675.70. Spotify Technology has a 1-year low of $376.00 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. Spotify Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Phillip Securities upgraded shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. Morgan Stanley lowered their price objective on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Guggenheim reiterated a “buy” rating and set a $850.00 price objective on shares of Spotify Technology in a research note on Wednesday, September 3rd. Oppenheimer increased their target price on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Finally, KeyCorp lowered their price target on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $731.16.

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.