Equitable Trust Co. Has $6.47 Million Position in Spotify Technology $SPOT

Equitable Trust Co. increased its position in shares of Spotify Technology (NYSE:SPOT) by 2.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,436 shares of the company’s stock after purchasing an additional 239 shares during the period. Equitable Trust Co.’s holdings in Spotify Technology were worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC lifted its holdings in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Spotify Technology by 3.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock worth $1,939,949,000 after purchasing an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in 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 purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp lifted its holdings in Spotify Technology by 10.3% during the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock worth $866,012,000 after purchasing an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in Spotify Technology by 12.6% during the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock worth $857,855,000 after purchasing an additional 174,700 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SPOT shares. KeyCorp lowered their price objective 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. Oppenheimer raised their price objective on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price objective on the stock in a research note on Wednesday, July 30th. The Goldman Sachs Group lowered Spotify Technology from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $765.00 to $770.00 in a research note on Tuesday, September 30th. Finally, UBS Group lowered their price objective on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Performance

Shares of SPOT opened at $691.38 on Tuesday. Spotify Technology has a 52-week low of $364.26 and a 52-week high of $785.00. The business’s fifty day moving average is $699.82 and its 200-day moving average is $669.16. The firm has a market cap of $141.53 billion, a price-to-earnings ratio of 167.81, a PEG ratio of 3.23 and a beta of 1.67.

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

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.