ARK Investment Management LLC Sells 4,513 Shares of Spotify Technology $SPOT

Key Points

• ARK Investment Management has reduced its stake in Spotify Technology by 5.7%, selling 4,513 shares and now holding a total of 74,185 shares valued at approximately $56.9 million.
• Spotify's stock experienced a 1.9% increase, with a current market cap of $140.95 billion and a price-to-earnings ratio of 167.12.
• Despite posting a loss of ($0.42) earnings per share, Spotify's revenue for the last quarter was $4.94 billion, exceeding analyst expectations of $4.29 billion.

ARK Investment Management LLC lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,185 shares of the company's stock after selling 4,513 shares during the quarter. ARK Investment Management LLC's holdings in Spotify Technology were worth $56,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sapient Capital LLC bought a new stake in Spotify Technology during the 2nd quarter valued at $322,000. Swedbank AB increased its stake in Spotify Technology by 1.4% during the 1st quarter. Swedbank AB now owns 959,587 shares of the company's stock valued at $527,802,000 after purchasing an additional 13,458 shares in the last quarter. Legacy Capital Group California Inc. increased its stake in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company's stock valued at $2,990,000 after purchasing an additional 2,049 shares in the last quarter. Harbor Investment Advisory LLC increased its stake in Spotify Technology by 36.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock valued at $1,576,000 after purchasing an additional 544 shares in the last quarter. Finally, Annex Advisory Services LLC increased its stake in Spotify Technology by 56.9% during the 2nd quarter. Annex Advisory Services LLC now owns 53,984 shares of the company's stock valued at $41,424,000 after purchasing an additional 19,577 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 1.9%

SPOT opened at $688.54 on Wednesday. The stock has a market cap of $140.95 billion, a price-to-earnings ratio of 167.12, a PEG ratio of 3.22 and a beta of 1.67. Spotify Technology has a twelve month low of $376.00 and a twelve month high of $785.00. The company's 50-day moving average price is $699.13 and its two-hundred day moving average price is $673.70.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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). The company had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm's revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SPOT shares. BNP Paribas Exane started coverage on shares of Spotify Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 price objective on the stock. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a report on Monday, August 4th. KeyCorp cut their price objective on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. BNP Paribas raised shares of Spotify Technology to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $731.16.

Spotify Technology 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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