Alecta Tjanstepension Omsesidigt Decreases Stock Holdings in Spotify Technology $SPOT

Key Points

• Alecta Tjanstepension Omsesidigt reduced its stake in Spotify Technology by 19.6%, selling 151,400 shares and now owning 621,000 shares, representing 2.2% of its portfolio.
• Spotify's recent earnings report showed a significant loss of ($0.42) per share, missing analysts' expectations, despite revenue rising 10.1% year-over-year to $4.94 billion.
• Analysts have mixed ratings on Spotify, with one Strong Buy, twenty-one Buy ratings, and a consensus target price of $726.84, reflecting optimism amidst the challenges faced.

Alecta Tjanstepension Omsesidigt trimmed its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 19.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 621,000 shares of the company's stock after selling 151,400 shares during the period. Spotify Technology makes up 2.2% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 13th largest holding. Alecta Tjanstepension Omsesidigt owned 0.30% of Spotify Technology worth $476,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $26,000. Tsfg LLC purchased a new stake in Spotify Technology during the first quarter valued at approximately $28,000. Copia Wealth Management purchased a new stake in Spotify Technology during the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its holdings in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SPOT has been the subject of a number of research reports. Guggenheim reaffirmed a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. Oppenheimer upped their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Bank of America upped their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Citigroup upped their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. Finally, UBS Group dropped their price target on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $726.84.

Spotify Technology Trading Up 0.1%

Shares of NYSE:SPOT traded up $1.07 during midday trading on Friday, reaching $735.19. 1,545,785 shares of the company were exchanged, compared to its average volume of 1,234,507. The business's fifty day moving average is $693.21 and its two-hundred day moving average is $653.02. Spotify Technology has a one year low of $362.00 and a one year high of $785.00. The stock has a market cap of $150.50 billion, a PE ratio of 178.44, a price-to-earnings-growth ratio of 3.16 and a beta of 1.71.

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

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.