Torray Investment Partners LLC Acquires New Stake in Spotify Technology $SPOT

Torray Investment Partners LLC bought a new stake in shares of Spotify Technology (NYSE:SPOT) in the third quarter, Holdings Channel.com reports. The institutional investor bought 10,687 shares of the company’s stock, valued at approximately $5,209,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gerber Kawasaki Wealth & Investment Management increased its position in shares of Spotify Technology by 25.8% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,208 shares of the company’s stock worth $589,000 after purchasing an additional 248 shares in the last quarter. Signature Equity Partners LLC lifted its holdings in shares of Spotify Technology by 20.7% during the 3rd quarter. Signature Equity Partners LLC now owns 222 shares of the company’s stock valued at $108,000 after purchasing an additional 38 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Spotify Technology by 15.6% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 16,967 shares of the company’s stock worth $8,279,000 after purchasing an additional 2,292 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its position in shares of Spotify Technology by 38.8% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 18,150 shares of the company’s stock worth $8,846,000 after purchasing an additional 5,070 shares in the last quarter. Finally, Columbia Bank boosted its position in shares of Spotify Technology by 16.9% in the 3rd quarter. Columbia Bank now owns 700 shares of the company’s stock worth $341,000 after purchasing an additional 101 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Insider Buying and Selling

In other Spotify Technology news, CEO Gustav Söderström sold 20,910 shares of Spotify Technology stock in a transaction dated 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 approximately $10,553,828.04. The trade was a 51.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SPOT. Wall Street Zen downgraded Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. KeyCorp decreased their price target on Spotify Technology from $680.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 1st. Wells Fargo & Company raised their price target on Spotify Technology from $570.00 to $660.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Weiss Ratings raised Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on Spotify Technology from $650.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. Twenty-three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $620.07.

Spotify Technology Trading Up 1.1%

NYSE:SPOT opened at $600.84 on Wednesday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $668.49. The firm has a fifty day simple moving average of $533.12 and a 200-day simple moving average of $498.87. The company has a market capitalization of $123.70 billion, a P/E ratio of 39.39, a PEG ratio of 1.84 and a beta of 1.49.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data 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 net margin of 15.74% and a return on equity of 35.64%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $3.28 earnings per share. Spotify Technology’s quarterly revenue was up 16.3% compared to the same quarter last year. Equities analysts forecast that Spotify Technology will post 13.66 EPS for the current year.

Spotify Technology News Summary

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

• Positive Sentiment: A bullish forecast argues Spotify could reach $1,000 per share, citing compounding subscriber growth and rising margins. This is an analyst-style prediction, not company guidance. Price Prediction: Spotify Will Hit $1,000 on This Date
• Positive Sentiment: A reported 16.82% increase to the price target for Spotify depositary receipts adds to the positive sentiment, though the quoted target is in Brazilian reais and is not directly comparable with SPOT shares in U.S. dollars. Spotify Technology SA – Depositary receipt price target increased
• Positive Sentiment: Spotify plans to launch an AI music remix service in the coming months. The feature could broaden listening and engagement, although the article provides no projected financial impact. Spotify to launch AI music remix service
• Neutral Sentiment: Spotify is adapting its India strategy around artist-first music as listening habits shift, potentially supporting its local appeal, but the report gives no near-term growth or revenue estimates. Spotify bets on artist-first music as India’s listening habits shift
• Neutral Sentiment: One analysis notes SPOT has gained 33% in six months and weighs whether investors should buy more or take profits. That sharp run-up could support momentum but also make some holders more inclined to lock in gains. Spotify Is Up 33% in Six Months: Take Profits, or Buy More?

Spotify Technology Profile

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.