Bayforest Capital Ltd Sells 1,506 Shares of Spotify Technology $SPOT

Key Points

• Bayforest Capital Ltd significantly reduced its stake in Spotify Technology by 69.9%, selling 1,506 shares and holding only 647 shares valued at $496,000 by the end of the second quarter.
• Several institutional investors, including Goldman Sachs, increased their positions in Spotify Technology, with Goldman Sachs raising its ownership by an impressive 1,151.0% to hold over 1.74 million shares.
• Spotify's latest earnings report revealed a loss of ($0.42) EPS, missing expectations, despite of revenue surpassing estimates at $4.94 billion for the quarter.

Bayforest Capital Ltd lowered its position in Spotify Technology (NYSE:SPOT - Free Report) by 69.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 647 shares of the company's stock after selling 1,506 shares during the quarter. Bayforest Capital Ltd's holdings in Spotify Technology were worth $496,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Spotify Technology in the first quarter worth approximately $383,139,000. Axiom Investors LLC DE lifted its stake in shares of Spotify Technology by 216.8% during the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock worth $395,847,000 after acquiring an additional 492,504 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Spotify Technology by 39.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company's stock valued at $648,434,000 after acquiring an additional 336,162 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SPOT shares. UBS Group decreased their target price on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Pivotal Research boosted their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Canaccord Genuity Group raised their price objective on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Cantor Fitzgerald lifted their target price on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $731.16.

Spotify Technology Stock Down 1.3%

Shares of SPOT stock opened at $682.75 on Wednesday. The firm has a market cap of $139.77 billion, a price-to-earnings ratio of 165.72, a PEG ratio of 3.26 and a beta of 1.67. The company's 50 day moving average is $700.53 and its 200 day moving average is $669.26. Spotify Technology has a 52-week low of $364.26 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.