Cim LLC Raises Stock Position in Spotify Technology $SPOT

Key Points

• Cim LLC increased its Spotify stake by 83.3% during the first quarter, holding 38,425 shares valued at approximately $18.6 million. Institutional investors collectively own 84.09% of the company.
• Analyst sentiment remains positive overall, with Spotify receiving a consensus “Moderate Buy” rating and an average price target of $629.73, despite some firms lowering their targets.
• Spotify exceeded quarterly earnings expectations with EPS of $4.04 versus the $3.41 consensus and revenue of $5.25 billion, up 8.2% year over year; however, insiders sold more than $54.7 million in shares during the quarter.

Cim LLC raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 83.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,425 shares of the company's stock after purchasing an additional 17,464 shares during the quarter. Spotify Technology makes up about 2.7% of Cim LLC's holdings, making the stock its 12th biggest holding. Cim LLC's holdings in Spotify Technology were worth $18,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new position in shares of Spotify Technology during the second quarter valued at about $312,000. Jump Financial LLC raised its stake in Spotify Technology by 5.2% in the second quarter. Jump Financial LLC now owns 1,132 shares of the company's stock worth $869,000 after buying an additional 56 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Spotify Technology in the second quarter worth about $178,000. NewEdge Advisors LLC lifted its holdings in Spotify Technology by 36.9% in the second quarter. NewEdge Advisors LLC now owns 12,650 shares of the company's stock worth $9,707,000 after buying an additional 3,412 shares during the period. Finally, Glenview Trust co purchased a new stake in Spotify Technology in the second quarter worth about $298,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SPOT. Benchmark cut their price objective on Spotify Technology from $695.00 to $650.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Pivotal Research decreased their target price on Spotify Technology from $420.00 to $400.00 and set a "hold" rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Spotify Technology from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Weiss Ratings lowered Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Finally, Cantor Fitzgerald upped their price target on Spotify Technology from $430.00 to $520.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $629.73.

Spotify Technology Trading Up 2.2%

Shares of NYSE:SPOT opened at $522.68 on Thursday. The stock has a fifty day simple moving average of $485.86 and a two-hundred day simple moving average of $486.46. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $748.30. The stock has a market capitalization of $107.61 billion, a price-to-earnings ratio of 41.65, a PEG ratio of 1.27 and a beta of 1.56.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to analysts' expectations of $5.23 billion. During the same period in the prior year, the firm posted $1.07 earnings per share. The company's quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts predict that Spotify Technology will post 14.46 EPS for the current year.

Spotify Technology News Summary

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

• Positive Sentiment: KeyCorp maintained an “Overweight” rating and a $680 price target, well above recent trading levels, while projecting substantial earnings growth through fiscal 2028. The firm expects FY2028 EPS of $27.06, compared with a current-year consensus estimate of roughly $14.46. Spotify Stock May Be a Bargain on Cash Flow
• Positive Sentiment: A preview article highlighted expectations for strong user growth and described the shares as attractive after recent weakness. The stock’s longer-term performance remains strong, having gained approximately 239% over three years. Spotify Q2 Preview
• Positive Sentiment: A new Snapchat integration will enable real-time music sharing through Spotify, potentially improving discovery, engagement and user acquisition. Snapchat Introduces Real-Time Music Sharing Through Spotify Integration
• Neutral Sentiment: Valuation signals are mixed: discounted-cash-flow analysis suggests the stock may be undervalued based on future cash generation, while conventional multiples indicate investors are already paying a premium and therefore expect strong execution.
• Negative Sentiment: KeyCorp reduced its EPS forecasts for Q2, Q3 and Q4 2026, lowering its FY2026 estimate to $16.64 from $17.11 and FY2027 to $21.61 from $22.78, although it retained its bullish rating and price target. Spotify Analyst Estimates
• Negative Sentiment: Pre-earnings analysis said Spotify may lack the typical indicators supporting an earnings beat. Earlier lower-than-expected guidance for Q2 and ongoing efforts to police fake streams add execution risks ahead of the report. Spotify Earnings Expected to Grow

Insider Transactions at Spotify Technology

In other Spotify Technology news, Director Christopher P. Marshall sold 2,650 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the completion of the sale, the director directly owned 4,039 shares in the company, valued at approximately $2,099,714.54. This trade represents a 39.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas O. Staggs sold 5,477 shares of Spotify Technology stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the transaction, the director directly owned 3,619 shares of the company's stock, valued at $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,442 shares of company stock worth $54,757,553 over the last quarter. Corporate insiders own 0.40% of the company's stock.

Spotify Technology Company 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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