Apollon Wealth Management LLC Sells 871 Shares of Spotify Technology $SPOT

Key Points

• Apollon Wealth Management LLC sold 871 shares of Spotify Technology, reducing its holdings by 53.7% in the second quarter, leaving it with 751 shares valued at approximately $576,000.
• Various large investors are adjusting their positions in Spotify; for instance, Sound Income Strategies increased its stake by 156.3% during the same period.
• Despite missing analysts' EPS estimates in its latest quarterly earnings report, Spotify reported a revenue increase of 10.1% compared to the previous year, totaling $4.94 billion.

Apollon Wealth Management LLC trimmed its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 53.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 751 shares of the company's stock after selling 871 shares during the period. Apollon Wealth Management LLC's holdings in Spotify Technology were worth $576,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC grew its position in Spotify Technology by 156.3% in the second quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock worth $31,000 after acquiring an additional 25 shares in the last quarter. GFG Capital LLC bought a new stake in Spotify Technology in the second quarter worth approximately $33,000. Cornerstone Planning Group LLC grew its position in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Tsfg LLC bought a new stake in Spotify Technology in the first quarter worth approximately $28,000. Finally, Truvestments Capital LLC bought a new stake in Spotify Technology in the first quarter worth approximately $34,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. KeyCorp decreased their price objective 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Argus began coverage on shares of Spotify Technology in a research note on Monday, September 29th. They set a "buy" rating and a $845.00 target price for the company. Finally, BNP Paribas Exane began coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They set an "outperform" rating and a $900.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Price Performance

NYSE:SPOT opened at $662.77 on Friday. Spotify Technology has a one year low of $366.65 and a one year high of $785.00. The stock has a market cap of $135.68 billion, a P/E ratio of 160.87, a PEG ratio of 3.20 and a beta of 1.67. The company has a fifty day moving average price of $700.15 and a 200 day moving average price of $670.05.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the prior year, the company posted $1.33 EPS. The company's quarterly 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, equities research analysts anticipate 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.

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