Ameriprise Financial Inc. Reduces Holdings in Spotify Technology $SPOT

Key Points

• Ameriprise Financial Inc. reduced its holdings in Spotify Technology by 1.8% during the 1st quarter, now owning approximately 356,819 shares valued at $196.26 million.
• Several hedge funds adjusted their stakes in Spotify, with increasing holdings from firms like Hartford Investment Management Co. and North Star Investment Management Corp. during the same quarter.
• Spotify's stock price recently opened at $692.68, with a market cap of $141.80 billion and a significant earnings miss reported at ($0.42) per share against expectations of $2.00.

Ameriprise Financial Inc. reduced its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,819 shares of the company's stock after selling 6,551 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.17% of Spotify Technology worth $196,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hartford Investment Management Co. increased its holdings in Spotify Technology by 1.1% during the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock valued at $797,000 after acquiring an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after buying an additional 17 shares in the last quarter. HM Payson & Co. grew its holdings in shares of Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after buying an additional 18 shares in the last quarter. Adero Partners LLC grew its holdings in shares of Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock worth $1,449,000 after buying an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Guggenheim lifted their price target on shares of Spotify Technology from $800.00 to $850.00 and gave the stock a "buy" rating in a report on Monday, August 18th. KeyCorp lowered their price target on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Benchmark lowered their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. UBS Group lowered their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Finally, Bank of America boosted 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. Twenty equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Stock Up 0.5%

Shares of SPOT stock opened at $692.6780 on Friday. The stock has a market cap of $141.80 billion, a price-to-earnings ratio of 168.13, a price-to-earnings-growth ratio of 2.98 and a beta of 1.69. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The firm's 50 day moving average price is $703.72 and its two-hundred day moving average price is $641.66.

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

Spotify Technology Company Profile

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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