Allspring Global Investments Holdings LLC Sells 6,306 Shares of Spotify Technology $SPOT

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Spotify Technology by 2.5%, selling 6,306 shares, and now holds approximately 249,891 shares valued at $180.5 million.
• Spotify reported a quarterly loss of ($0.42) EPS, missing the consensus estimate of $2.00, although its revenue for the quarter was $4.94 billion, exceeding expectations.
• Analysts have mixed views on Spotify's stock, with a current average rating of "Moderate Buy" and a price target of $731.16.

Allspring Global Investments Holdings LLC lowered its stake in Spotify Technology (NYSE:SPOT - Free Report) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 249,891 shares of the company's stock after selling 6,306 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.12% of Spotify Technology worth $180,509,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Joel Isaacson & Co. LLC raised its position in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company's stock worth $1,190,000 after acquiring an additional 15 shares in the last quarter. Ignite Planners LLC raised its position in Spotify Technology by 2.4% during the second quarter. Ignite Planners LLC now owns 637 shares of the company's stock worth $489,000 after acquiring an additional 15 shares in the last quarter. Hartford Investment Management Co. raised its position in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after acquiring an additional 16 shares in the last quarter. Stonekeep Investments LLC raised its position in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after acquiring an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

SPOT stock opened at $685.66 on Monday. The company's 50-day simple moving average is $699.20 and its 200 day simple moving average is $668.24. Spotify Technology has a 52 week low of $364.26 and a 52 week high of $785.00. The company has a market capitalization of $140.36 billion, a PE ratio of 166.42, a price-to-earnings-growth ratio of 3.23 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the company posted $1.33 earnings per share. The company's revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on SPOT. Morgan Stanley dropped their price target on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Evercore ISI upped their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a report on Monday, June 16th. The Goldman Sachs Group downgraded shares of Spotify Technology from a "buy" rating to a "neutral" rating and upped their price objective for the company from $765.00 to $770.00 in a report on Tuesday, September 30th. Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, Phillip Securities upgraded shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $731.16.

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.

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