DNB Asset Management AS Buys Shares of 38,890 Spotify Technology $SPOT

DNB Asset Management AS purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 38,890 shares of the company’s stock, valued at approximately $29,842,000.

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after acquiring an additional 1,601,653 shares during the period. Northern Trust Corp boosted its holdings in shares of Spotify Technology by 10.3% during the first 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. Geode Capital Management LLC grew its position in shares of Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after purchasing an additional 49,377 shares during the period. Forsta AP Fonden grew its position in shares of Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after purchasing an additional 174,700 shares during the period. Finally, Invesco Ltd. increased its stake in Spotify Technology by 3.7% in the first quarter. Invesco Ltd. now owns 1,240,028 shares of the company’s stock valued at $682,053,000 after purchasing an additional 44,340 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Spotify Technology in a research note on Wednesday. The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their target price for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. KeyCorp lowered their target price on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Rosenblatt Securities cut their price target on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Finally, Cantor Fitzgerald boosted their price objective on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Two 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’s stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $583.47 on Friday. Spotify Technology has a 1-year low of $443.21 and a 1-year high of $785.00. The company has a market capitalization of $120.13 billion, a price-to-earnings ratio of 91.74, a PEG ratio of 1.95 and a beta of 1.67. The business has a 50-day moving average of $670.04 and a 200-day moving average of $683.55.

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

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.