Assenagon Asset Management S.A. Reduces Holdings in Spotify Technology $SPOT

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Spotify Technology by 81.3%, selling 67,087 shares and retaining just 15,474 shares valued at approximately $11.87 million.
• The stock performance of Spotify Technology has seen notable price movements, with a one-year low of $362.31 and a high of $785.00, currently trading around $737.28.
• Despite reporting a loss of ($0.42) EPS for the last quarter, Spotify's revenue of $4.94 billion exceeded analysts' expectations, highlighting a 10.1% year-over-year revenue growth.

Assenagon Asset Management S.A. decreased its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 81.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 15,474 shares of the company's stock after selling 67,087 shares during the period. Assenagon Asset Management S.A.'s holdings in Spotify Technology were worth $11,874,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cornerstone Planning Group LLC grew its stake in shares of Spotify Technology by 512.5% during 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 during the last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology during the first quarter worth about $28,000. North Star Investment Management Corp. lifted 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 purchasing an additional 19 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Spotify Technology during the first quarter worth about $34,000. Finally, Copia Wealth Management acquired a new stake in shares of Spotify Technology during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $737.28 on Tuesday. Spotify Technology has a one year low of $362.31 and a one year high of $785.00. The stock has a market capitalization of $150.93 billion, a price-to-earnings ratio of 178.95, a PEG ratio of 3.16 and a beta of 1.71. The stock has a 50 day moving average price of $693.62 and a 200 day moving average price of $655.70.

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

Analyst Ratings Changes

A number of research firms recently commented on SPOT. Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a report on Tuesday, September 9th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Cantor Fitzgerald lifted their target price on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. KeyCorp decreased their price target on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Bank of America boosted their price target on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $726.84.

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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