KLP Kapitalforvaltning AS Increases Stake in Spotify Technology $SPOT

KLP Kapitalforvaltning AS grew its holdings in shares of Spotify Technology (NYSE:SPOT) by 3.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 135,700 shares of the company’s stock after buying an additional 4,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Spotify Technology were worth $104,128,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in Spotify Technology by 209.1% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 68 shares of the company’s stock valued at $37,000 after acquiring an additional 46 shares in the last quarter. Wedmont Private Capital lifted its stake in Spotify Technology by 15.3% in the 1st quarter. Wedmont Private Capital now owns 1,436 shares of the company’s stock worth $781,000 after purchasing an additional 191 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Spotify Technology by 32.0% during the 1st quarter. UMB Bank n.a. now owns 408 shares of the company’s stock worth $224,000 after purchasing an additional 99 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of Spotify Technology by 8.2% in the first quarter. Miracle Mile Advisors LLC now owns 709 shares of the company’s stock valued at $390,000 after purchasing an additional 54 shares in the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Spotify Technology by 89.6% in the first quarter. Park Avenue Securities LLC now owns 9,597 shares of the company’s stock valued at $5,278,000 after purchasing an additional 4,535 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group cut their price target on Spotify Technology from $895.00 to $850.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Barclays cut their price target on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Bank of America increased their price target on Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Oppenheimer increased their price target on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Finally, Pivotal Research increased their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Performance

NYSE:SPOT opened at $680.28 on Tuesday. The stock has a market capitalization of $139.26 billion, a P/E ratio of 165.12, a PEG ratio of 3.22 and a beta of 1.67. The company has a 50 day moving average price of $695.42 and a 200 day moving average price of $665.91. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00.

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