Spotify Technology $SPOT Stake Increased by Scotia Capital Inc.

Scotia Capital Inc. boosted its stake in Spotify Technology (NYSE:SPOT) by 4.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 7,276 shares of the company’s stock after buying an additional 295 shares during the period. Scotia Capital Inc.’s holdings in Spotify Technology were worth $5,583,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SPOT. Goldman Sachs Group Inc. increased its position in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp increased its holdings in Spotify Technology by 10.3% in the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock valued at $866,012,000 after buying an additional 147,580 shares during the last quarter. Geode Capital Management LLC increased its holdings in Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after buying an additional 49,377 shares during the last quarter. Forsta AP Fonden raised its stake in Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after buying an additional 174,700 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Spotify Technology by 3.7% during the 1st quarter. Invesco Ltd. now owns 1,240,028 shares of the company’s stock worth $682,053,000 after buying an additional 44,340 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

Spotify Technology stock opened at $599.11 on Friday. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The company has a 50-day simple moving average of $657.55 and a 200-day simple moving average of $682.18. The firm has a market capitalization 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 (NYSE:SPOT) last issued 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 for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. Spotify Technology’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPOT shares. Wall Street Zen upgraded Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. The Goldman Sachs Group downgraded shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their price target for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. Cantor Fitzgerald boosted their price objective on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, BNP Paribas Exane initiated coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $758.86.

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.