Westfield Capital Management Co. LP Boosts Position in Spotify Technology $SPOT

Westfield Capital Management Co. LP lifted its stake in shares of Spotify Technology (NYSE:SPOT) by 19.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,931 shares of the company’s stock after buying an additional 14,721 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Spotify Technology were worth $68,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPOT. Private Advisor Group LLC increased its position in Spotify Technology by 21.2% during the first quarter. Private Advisor Group LLC now owns 3,951 shares of the company’s stock worth $2,173,000 after buying an additional 692 shares during the period. HighPoint Advisor Group LLC grew its position in shares of Spotify Technology by 5.3% during the first quarter. HighPoint Advisor Group LLC now owns 1,271 shares of the company’s stock worth $733,000 after acquiring an additional 64 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of Spotify Technology by 9.7% in the 1st quarter. Ignite Planners LLC now owns 622 shares of the company’s stock valued at $375,000 after acquiring an additional 55 shares during the period. Choreo LLC raised its position in Spotify Technology by 1.7% in the 1st quarter. Choreo LLC now owns 7,374 shares of the company’s stock valued at $4,056,000 after purchasing an additional 123 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Spotify Technology by 8.8% during the 1st quarter. Proficio Capital Partners LLC now owns 683 shares of the company’s stock worth $376,000 after purchasing an additional 55 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

SPOT opened at $616.32 on Thursday. Spotify Technology has a 12 month low of $443.21 and a 12 month high of $785.00. The stock has a market capitalization of $126.89 billion, a P/E ratio of 96.77, a P/E/G ratio of 2.10 and a beta of 1.67. The business has a 50 day simple moving average of $674.31 and a 200-day simple moving average of $684.58.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations 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 was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. Research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

SPOT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a research note on Wednesday, July 23rd. UBS Group lowered their price target on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Cantor Fitzgerald upped their price objective on Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Finally, KeyCorp dropped their target price on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus 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.