First Horizon Advisors Inc. Boosts Holdings in Spotify Technology $SPOT

First Horizon Advisors Inc. boosted its stake in Spotify Technology (NYSE:SPOT) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,118 shares of the company’s stock after purchasing an additional 112 shares during the period. First Horizon Advisors Inc.’s holdings in Spotify Technology were worth $858,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC increased its stake in shares of Spotify Technology by 4.8% during the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock worth $301,000 after purchasing an additional 18 shares during the last quarter. New Millennium Group LLC purchased a new position in Spotify Technology in the second quarter valued at approximately $97,000. Moors & Cabot Inc. bought a new position in Spotify Technology during the second quarter valued at $315,000. Cherry Creek Investment Advisors Inc. purchased a new stake in Spotify Technology in the second quarter worth $916,000. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Spotify Technology in the second quarter valued at $77,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

NYSE SPOT opened at $618.61 on Friday. The company’s 50 day simple moving average is $686.43 and its two-hundred day simple moving average is $681.91. Spotify Technology has a 1 year low of $391.42 and a 1 year high of $785.00. The stock has a market capitalization of $126.63 billion, a PE ratio of 97.27, a P/E/G ratio of 3.09 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period in the previous year, the business earned $1.45 EPS. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SPOT shares. Guggenheim cut their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday. Morgan Stanley cut their target price on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Rosenblatt Securities reduced their target price on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research note on Wednesday. Cantor Fitzgerald upped their price target on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $729.94.

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.