Sumitomo Mitsui DS Asset Management Company Ltd Raises Holdings in Spotify Technology $SPOT

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Spotify Technology (NYSE:SPOT) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,413 shares of the company’s stock after buying an additional 5,984 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Spotify Technology were worth $26,114,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SPOT. Cromwell Holdings LLC purchased a new position in Spotify Technology during the 3rd quarter valued at about $114,000. Family Capital Trust Co purchased a new stake in shares of Spotify Technology in the 3rd quarter worth approximately $156,000. Dock Street Asset Management Inc. bought a new position in shares of Spotify Technology during the third quarter valued at approximately $22,319,000. Granite Group Advisors LLC increased its holdings in Spotify Technology by 2.6% during the third quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock valued at $528,000 after buying an additional 19 shares during the period. Finally, Strategic Planning Group LLC bought a new position in Spotify Technology in the third quarter worth approximately $4,973,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 2.6%

Shares of Spotify Technology stock opened at $539.15 on Friday. The company has a 50 day moving average price of $593.15 and a 200 day moving average price of $660.60. The firm has a market capitalization of $111.01 billion, a P/E ratio of 84.77, a PEG ratio of 0.99 and a beta of 1.66. Spotify Technology has a 52 week low of $451.43 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.01 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. Spotify Technology’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology News Summary

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Spotify launched social features — “Listening Activity” and “Request to Jam” — designed to boost real-time sharing and collaboration, which could increase user engagement and retention. Spotify Adds ‘Listening Activity’ and ‘Request to Jam’ features: Here’s how they work
• Positive Sentiment: Spotify lowered criteria for video podcast monetization, broadening creator eligibility — this can expand creator supply and ad/subscription monetization opportunities. Spotify lowers criteria for video podcast monetisation. Check eligibility
• Neutral Sentiment: UBS trimmed its price target from $850 to $800 but kept a Buy rating — still implies significant upside, softening the negative impact of the cut. Benzinga
• Neutral Sentiment: Guggenheim reduced its target to $750 (from $800) while maintaining a Buy — another moderation of expectations rather than a downgrade. Benzinga
• Neutral Sentiment: Analyst-coverage summaries show mixed views across firms; useful to watch consensus revisions for guidance on future price moves. Where Spotify Technology Stands With Analysts
• Negative Sentiment: Cantor Fitzgerald cut its price target from $675 to $615 and moved to a Neutral rating — a clear downgrade signal that likely contributed to downward pressure on the stock. Benzinga

Analysts Set New Price Targets

SPOT has been the topic of several recent research reports. 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 research report on Wednesday, November 5th. Rosenblatt Securities decreased their price objective on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Cantor Fitzgerald lowered their price target on shares of Spotify Technology from $675.00 to $615.00 and set a “neutral” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $754.90.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.