Virtus Investment Advisers LLC Has $1.71 Million Stake in Spotify Technology $SPOT

Virtus Investment Advisers LLC lessened its stake in Spotify Technology (NYSE:SPOT) by 16.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,231 shares of the company’s stock after selling 446 shares during the period. Spotify Technology comprises about 0.6% of Virtus Investment Advisers LLC’s investment portfolio, making the stock its 25th largest position. Virtus Investment Advisers LLC’s holdings in Spotify Technology were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SPOT. Goldman Sachs Group Inc. boosted its holdings in Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares during the last quarter. Norges Bank bought a new position in Spotify Technology during the 2nd quarter worth approximately $768,915,000. Nuveen LLC acquired a new position in shares of Spotify Technology in the 1st quarter worth approximately $383,139,000. Axiom Investors LLC DE boosted its stake in shares of Spotify Technology by 216.8% in the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock valued at $395,847,000 after purchasing an additional 492,504 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Spotify Technology by 215.3% during the second quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock worth $387,758,000 after buying an additional 345,048 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Price Performance

Shares of SPOT opened at $593.92 on Friday. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The company has a market cap of $122.28 billion, a PE ratio of 93.38, a P/E/G ratio of 1.96 and a beta of 1.67. The stock has a 50-day moving average of $660.27 and a 200-day moving average of $681.89.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the prior year, the company earned $1.45 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. Analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SPOT shares. Cantor Fitzgerald boosted their target price on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. BNP Paribas raised Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Guggenheim cut their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Argus initiated coverage on Spotify Technology in a research note on Monday, September 29th. They issued a “buy” rating and a $845.00 price target on the stock. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.