Fisher Asset Management LLC Purchases 460,115 Shares of Spotify Technology $SPOT

Fisher Asset Management LLC raised its holdings in shares of Spotify Technology (NYSE:SPOT) by 22.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,489,013 shares of the company’s stock after buying an additional 460,115 shares during the period. Fisher Asset Management LLC’s holdings in Spotify Technology were worth $1,909,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in shares of Spotify Technology by 156.3% in the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the last quarter. GFG Capital LLC purchased a new stake in shares of Spotify Technology in the second quarter valued at about $33,000. Avion Wealth purchased a new position in Spotify Technology during the second quarter worth about $38,000. Truvestments Capital LLC purchased a new stake in Spotify Technology in the 1st quarter valued at about $34,000. Finally, Putney Financial Group LLC boosted its stake in shares of Spotify Technology by 244.4% in the 2nd quarter. Putney Financial Group LLC now owns 62 shares of the company’s stock worth $48,000 after buying an additional 44 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 1.1%

Shares of SPOT stock opened at $599.11 on Monday. The firm has a market cap of $123.35 billion, a P/E ratio of 94.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.66. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00. The business has a 50-day moving average price of $657.55 and a two-hundred day moving average price of $682.57.

Spotify Technology (NYSE:SPOT) last posted 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 $5.01 billion for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on SPOT. Benchmark lifted their target price on Spotify Technology from $800.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Guggenheim lowered their target price on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and upped their price target for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Finally, Rosenblatt Securities reduced their price target on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $758.86.

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.