Cim LLC Purchases 17,926 Shares of Spotify Technology $SPOT

Key Points

• Cim LLC increased its stake in Spotify Technology by 404.9%, now owning 22,353 shares worth approximately $12.30 million.
• Several other institutional investors have also significantly boosted their holdings in Spotify, with Goldman Sachs increasing theirs by 1,151.0%, now totaling 1,740,803 shares valued at about $957.5 million.
• Wall Street analysts have mixed price targets for Spotify, with Bank of America raising theirs to $900.00 while DZ Bank adjusted it down to $652.00, maintaining an overall consensus of a "Moderate Buy" rating.

Cim LLC increased its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 404.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,353 shares of the company's stock after purchasing an additional 17,926 shares during the period. Spotify Technology accounts for 1.8% of Cim LLC's investment portfolio, making the stock its 21st largest holding. Cim LLC's holdings in Spotify Technology were worth $12,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SPOT. Mpwm Advisory Solutions LLC purchased a new stake in shares of Spotify Technology during the 4th quarter worth $26,000. Tsfg LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth about $28,000. Copia Wealth Management purchased a new stake in Spotify Technology in the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its position in 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 buying an additional 41 shares during the period. Finally, North Star Investment Management Corp. boosted its position in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a research report on Wednesday, July 30th. Barclays cut their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. KeyCorp dropped their price target on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Citigroup lifted their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company upped their price target on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average price target of $721.07.

Spotify Technology Price Performance

SPOT stock traded up $6.60 on Friday, reaching $696.91. 1,169,675 shares of the company were exchanged, compared to its average volume of 1,222,534. The stock's fifty day moving average price is $693.51 and its 200 day moving average price is $649.61. The firm has a market capitalization of $142.66 billion, a PE ratio of 169.15, a PEG ratio of 2.99 and a beta of 1.71. Spotify Technology has a 12 month low of $337.15 and a 12 month high of $785.00.

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 firm had revenue of $4.94 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company 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.