Spotify Technology $SPOT Shares Bought by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its stake in shares of Spotify Technology (NYSE:SPOT) by 138.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 68,455 shares of the company’s stock after purchasing an additional 39,775 shares during the period. Rockefeller Capital Management L.P.’s holdings in Spotify Technology were worth $52,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. grew its holdings in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after buying an additional 1,601,653 shares during the last quarter. Nuveen LLC acquired a new stake in Spotify Technology during the 1st quarter worth about $383,139,000. Axiom Investors LLC DE grew its stake in Spotify Technology by 216.8% during 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. Bessemer Group Inc. grew its stake in Spotify Technology by 215.3% during the 2nd quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock valued at $387,758,000 after purchasing an additional 345,048 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Spotify Technology by 39.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock worth $648,434,000 after purchasing an additional 336,162 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Citigroup upped their target price on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Oppenheimer lifted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. Finally, Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $758.86.

Spotify Technology Stock Performance

SPOT opened at $634.57 on Monday. The company has a fifty day moving average of $679.23 and a two-hundred day moving average of $684.80. The stock has a market capitalization of $130.65 billion, a price-to-earnings ratio of 99.78, a PEG ratio of 2.10 and a beta of 1.67. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its 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 return on equity of 21.68% and a net margin of 8.46%.The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period last year, the firm earned $1.45 EPS. 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. On average, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current 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.