1832 Asset Management L.P. Cuts Stock Holdings in Spotify Technology $SPOT

Key Points

• 1832 Asset Management L.P. has reduced its stake in Spotify Technology by 8.7%, now owning 279,874 shares valued at approximately $153.94 million.
• Several institutional investors have increased their positions in Spotify, with notable rises including Wealth Enhancement Advisory Services LLC, which boosted its stake by 238.8%.
• Spotify's latest earnings report revealed an EPS of ($0.42), significantly missing analyst expectations but showing a 10.1% year-over-year revenue increase to $4.94 billion.

1832 Asset Management L.P. lowered its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 8.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,874 shares of the company's stock after selling 26,506 shares during the quarter. 1832 Asset Management L.P. owned 0.14% of Spotify Technology worth $153,939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Jennison Associates LLC lifted its position in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Spotify Technology by 3.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after acquiring an additional 112,553 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Spotify Technology by 1,151.0% in the first 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 during the period. Northern Trust Corp raised 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 valued at $866,012,000 after acquiring an additional 147,580 shares during the period. Finally, Forsta AP Fonden raised its stake in shares of Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after acquiring an additional 174,700 shares during the period. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 0.5%

SPOT stock traded up $3.2080 during trading on Friday, hitting $692.6780. The company had a trading volume of 935,624 shares, compared to its average volume of 2,695,361. The firm has a market capitalization of $141.80 billion, a P/E ratio of 168.13, a PEG ratio of 2.98 and a beta of 1.69. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The company has a 50 day simple moving average of $703.72 and a 200-day simple moving average of $641.77.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company's quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SPOT shares. Rosenblatt Securities reduced their target price on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 30th. Canaccord Genuity Group increased their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Loop Capital increased their target price on shares of Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Robert W. Baird increased their target price on shares of Spotify Technology from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Sanford C. Bernstein increased their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Twenty analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $720.07.

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.