Waratah Capital Advisors Ltd. Acquires Shares of 2,127 Spotify Technology $SPOT

Waratah Capital Advisors Ltd. bought a new stake in shares of Spotify Technology (NYSE:SPOT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,127 shares of the company’s stock, valued at approximately $1,632,000.

A number of other hedge funds have also recently modified their holdings of SPOT. Sigma Planning Corp raised its stake in shares of Spotify Technology by 5.5% during the 1st quarter. Sigma Planning Corp now owns 1,017 shares of the company’s stock worth $559,000 after acquiring an additional 53 shares in the last quarter. Wealthfront Advisers LLC raised its stake in shares of Spotify Technology by 4.3% in the first quarter. Wealthfront Advisers LLC now owns 1,173 shares of the company’s stock worth $645,000 after purchasing an additional 48 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Spotify Technology by 184.7% during the first quarter. Larson Financial Group LLC now owns 410 shares of the company’s stock worth $226,000 after purchasing an additional 266 shares during the period. Victory Capital Management Inc. increased its holdings in Spotify Technology by 44.0% in the 1st quarter. Victory Capital Management Inc. now owns 64,258 shares of the company’s stock worth $35,344,000 after buying an additional 19,647 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in Spotify Technology during the 1st quarter valued at approximately $207,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 1.7%

Spotify Technology stock opened at $634.57 on Friday. The company has a fifty day simple moving average of $679.23 and a 200-day simple moving average of $684.31. The stock has a market cap of $130.65 billion, a P/E ratio of 99.78, a price-to-earnings-growth ratio of 2.10 and a beta of 1.67. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $1.96. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on SPOT. KeyCorp reduced their price objective on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Argus assumed coverage on Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 price target on the stock. Wall Street Zen upgraded Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spotify Technology in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.86.

Spotify Technology Company 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.