Mirae Asset Global Investments Co. Ltd. Purchases New Position in Spotify Technology $SPOT

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Spotify Technology (NYSE:SPOT) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 40,485 shares of the company’s stock, valued at approximately $19,732,000.

A number of other hedge funds also recently modified their holdings of SPOT. Cantillon Capital Management LLC bought a new stake in shares of Spotify Technology in the first quarter worth $213,047,000. Southpoint Capital Advisors LP bought a new position in Spotify Technology during the 1st quarter worth $193,964,000. Principal Financial Group Inc. raised its position in Spotify Technology by 53.4% during the 1st quarter. Principal Financial Group Inc. now owns 989,667 shares of the company’s stock worth $479,899,000 after purchasing an additional 344,471 shares during the last quarter. Tiger Global Management LLC raised its position in Spotify Technology by 25.3% during the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after purchasing an additional 319,300 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Spotify Technology by 20.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock worth $829,641,000 after buying an additional 286,844 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Insider Activity at Spotify Technology

In related news, CEO Gustav Söderström sold 20,910 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $530.13, for a total transaction of $11,085,018.30. Following the completion of the sale, the chief executive officer owned 19,908 shares of the company’s stock, valued at $10,553,828.04. This trade represents a 51.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.40% of the stock is currently owned by insiders.

Spotify Technology Trading Down 0.0%

Shares of SPOT opened at $593.36 on Tuesday. The stock has a market capitalization of $122.16 billion, a P/E ratio of 39.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.61. The firm’s fifty day simple moving average is $531.87 and its two-hundred day simple moving average is $498.51. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $668.49.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.37). Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The business had revenue of $5.63 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business posted $3.28 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. As a group, research analysts predict that Spotify Technology will post 13.66 EPS for the current fiscal year.

Spotify Technology News Summary

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

• Positive Sentiment: Subscriber growth and sector read-through supported the rally. Spotify gained 33% over six months, while a subscription beat from Universal Music provided a favorable read-across for the streaming industry. Spotify’s latest quarterly results also showed 6 million new premium subscribers—1 million above guidance—alongside 16% revenue growth and 15% operating-income growth. Spotify Is Up 33% in Six Months: Take Profits, or Buy More?
• Positive Sentiment: AI and international expansion offer additional growth avenues. Spotify reportedly plans to launch an AI music remix service within months and is emphasizing artist-led music as listening habits evolve in India. These initiatives could increase engagement, broaden Spotify’s product offering and support future monetization, although the financial impact remains unproven. Spotify to launch AI music remix service
• Neutral Sentiment: Analyst valuation remains constructive but not decisive. Spotify’s average price target is reported at $620.07, modestly above the recent trading level. Comparisons with Reddit are also prompting investors to reassess relative value among internet and software stocks, without establishing a clear new catalyst for SPOT. Spotify stock average price target
• Neutral Sentiment: A new podcast, The Top Five News, is now available on Spotify and Apple Podcasts. The launch adds content to Spotify’s catalog but is unlikely to materially affect near-term revenue or valuation. The Top Five News Show launches on Spotify
• Negative Sentiment: Valuation and earnings execution are key risks. Spotify trades at a high earnings multiple after its substantial advance. Its latest EPS of $2.81 missed the $3.18 consensus estimate, even though revenue was broadly in line, increasing the risk that investors take profits if growth slows or expectations rise further. Spotify Q3 report analysis

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SPOT shares. Oppenheimer upped their price target on Spotify Technology from $550.00 to $650.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $625.00 price objective on shares of Spotify Technology in a research note on Friday, October 23rd. Cantor Fitzgerald upped their target price on Spotify Technology from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Rosenblatt Securities reissued a “neutral” rating and set a $527.00 target price on shares of Spotify Technology in a research report on Tuesday, October 20th. Finally, TD Cowen restated a “hold” rating and set a $525.00 price target on shares of Spotify Technology in a report on Friday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $620.07.

About Spotify Technology

Spotify Technology SA is an audio streaming company that operates the Spotify platform, offering users access to music, podcasts and audiobooks through internet-connected devices. Its catalog includes licensed recordings from music labels and artists, as well as podcasts and other audio content from creators and publishers.

Spotify provides both an ad-supported service and subscription-based Premium plans. Premium subscribers generally receive ad-free listening and additional features, while the advertising-supported service allows users to access content without a paid subscription.