AlphaCore Capital LLC Buys Shares of 224 Spotify Technology $SPOT

AlphaCore Capital LLC purchased a new stake in Spotify Technology (NYSE:SPOT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 224 shares of the company’s stock, valued at approximately $172,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SPOT. Goldman Sachs Group Inc. raised its stake in Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares in the last quarter. Northern Trust Corp grew its stake in shares of Spotify Technology by 10.3% in 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Spotify Technology by 3.3% during 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 increased its holdings in shares of Spotify Technology by 12.6% during 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. raised its stake in shares of Spotify Technology by 3.7% during 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 in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 0.0%

NYSE:SPOT opened at $585.17 on Wednesday. The firm has a market capitalization of $120.48 billion, a PE ratio of 92.01, a price-to-earnings-growth ratio of 1.93 and a beta of 1.67. Spotify Technology has a 12-month low of $443.21 and a 12-month high of $785.00. The firm has a 50-day moving average price of $665.32 and a 200 day moving average price of $683.13.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share 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 company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business earned $1.45 earnings per share. 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, research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Pivotal Research dropped their target price on Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. BNP Paribas Exane initiated coverage on Spotify Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price target on the stock. Oppenheimer boosted their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Barclays dropped their price objective on Spotify Technology from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Phillip Securities raised Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.