Bank of Montreal Can Has $167.63 Million Stock Holdings in Spotify Technology $SPOT

Key Points

• Bank of Montreal Can increased its stake in Spotify by 7.8% in Q3 to 240,154 shares valued at $167.63 million, roughly 0.12% of the company.
• Spotify posted a strong quarter with EPS of $5.16 versus $3.16 expected and revenue of $5.32 billion (vs. $5.14B consensus), alongside a 13.16% net margin and 31.35% return on equity.
• While some brokers have trimmed targets, the stock's consensus is a Moderate Buy with an average price target of $703.87 (ratings: 2 Strong Buy, 24 Buy, 8 Hold).

Bank of Montreal Can lifted its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 7.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 240,154 shares of the company's stock after acquiring an additional 17,303 shares during the period. Bank of Montreal Can owned approximately 0.12% of Spotify Technology worth $167,627,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Knuff & Co LLC bought a new stake in Spotify Technology in the second quarter valued at about $27,000. Heartwood Wealth Advisors LLC bought a new position in Spotify Technology during the third quarter worth about $27,000. Greykasell Wealth Strategies Inc. boosted its holdings in Spotify Technology by 3,800.0% during the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Spotify Technology during the second quarter valued at approximately $29,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at approximately $29,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPOT has been the subject of several analyst reports. Pivotal Research downgraded Spotify Technology from a "buy" rating to a "hold" rating and cut their target price for the stock from $875.00 to $420.00 in a research report on Wednesday, February 11th. Cantor Fitzgerald lowered their price target on Spotify Technology from $615.00 to $525.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 11th. Sanford C. Bernstein dropped their price objective on Spotify Technology from $830.00 to $650.00 and set an "outperform" rating for the company in a research note on Wednesday, January 14th. The Goldman Sachs Group raised Spotify Technology from a "neutral" rating to a "buy" rating and cut their price objective for the company from $735.00 to $700.00 in a report on Friday, January 23rd. Finally, UBS Group reduced their target price on shares of Spotify Technology from $850.00 to $800.00 and set a "buy" rating on the stock in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $703.87.

Spotify Technology Stock Down 2.7%

Shares of NYSE:SPOT opened at $530.27 on Wednesday. The firm has a market cap of $109.17 billion, a P/E ratio of 55.01, a P/E/G ratio of 1.19 and a beta of 1.66. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The company's 50-day moving average price is $506.30 and its two-hundred day moving average price is $598.51.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The company had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The company's revenue was up 6.8% on a year-over-year basis. As a group, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

More Spotify Technology News

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Strong recent fundamentals: SPOT reported a big EPS beat in its latest quarter and revenue growth, supporting a higher long‑term valuation case and giving bulls ammunition. Earnings/Performance Summary
• Positive Sentiment: New and expanding institutional interest: some long‑term managers (e.g., Polen Capital, D.E. Shaw additions cited in filings) have added positions, signaling conviction in podcasts/audiobooks and ad monetization upside. Polen Capital / Institutional Activity
• Neutral Sentiment: Short‑term service disruption resolved: users reported outages across multiple platforms including Spotify, but the company’s app and website were reported as “much better now,” suggesting limited lasting user‑impact if recovery holds. Outage Recovery
• Neutral Sentiment: Momentum and valuation check: analysis pieces highlight that SPOT has seen large recent share swings (notably a strong 1‑month gain) and renewed attention on valuation metrics — useful context but not an immediate catalyst. Valuation Analysis
• Neutral Sentiment: Platform dynamics: research on music discovery (TikTok vs Spotify) underscores changing consumption patterns—important for long‑term content strategy but incremental versus near‑term earnings catalysts. Consumption Trends
• Negative Sentiment: Analyst downgrades and reduced sentiment: Wolfe Research, Pivotal and others have trimmed ratings/targets citing valuation and execution risk after price hikes; this has prompted near‑term profit taking. Analyst Downgrades
• Negative Sentiment: Lowered estimates from brokers: Erste Group and others have trimmed earnings forecasts, adding pressure to the stock’s near‑term outlook as investors reassess growth vs. valuation. Broker Estimate Cuts
• Negative Sentiment: Broader risk‑off market backdrop: higher macro risk and rotation away from long‑duration growth names have amplified selling pressure on high‑multiple stocks like SPOT. Investor Rotation / Mixed Institutional Activity

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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