Coronation Fund Managers Ltd. Has $17.20 Million Stake in Spotify Technology $SPOT

Key Points

• Coronation Fund Managers Ltd. reduced its stake in Spotify Technology by 58.6% in the second quarter, holding approximately $17.20 million in shares after selling 31,682 shares.
• Despite some institutions increasing their holdings, 84.09% of Spotify's stock is currently owned by institutional investors, highlighting strong institutional interest.
• Spotify reported a significant earnings miss with an EPS of ($0.42) for the quarter, falling short of the consensus estimate, although revenue rose to $4.94 billion, surpassing expectations.

Coronation Fund Managers Ltd. lowered its position in Spotify Technology (NYSE:SPOT - Free Report) by 58.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,420 shares of the company's stock after selling 31,682 shares during the quarter. Spotify Technology accounts for approximately 0.9% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 29th largest position. Coronation Fund Managers Ltd.'s holdings in Spotify Technology were worth $17,204,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Joel Isaacson & Co. LLC lifted its holdings in shares of Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company's stock worth $1,190,000 after purchasing an additional 15 shares in the last quarter. Ignite Planners LLC increased its holdings in Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company's stock worth $489,000 after acquiring an additional 15 shares during the last quarter. Hartford Investment Management Co. boosted its stake in Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after purchasing an additional 16 shares during the period. Stonekeep Investments LLC boosted its stake in Spotify Technology by 2.1% in the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares during the period. Finally, Moody National Bank Trust Division boosted its position in shares of Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock valued at $2,249,000 after acquiring an additional 16 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SPOT. Barclays decreased their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of Spotify Technology in a research note on Wednesday, October 8th. Wells Fargo & Company upped their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Argus started coverage on Spotify Technology in a research note on Monday, September 29th. They issued a "buy" rating and a $845.00 price target on the stock. Finally, BNP Paribas raised Spotify Technology to a "strong-buy" rating in a research note on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $731.16.

Spotify Technology Price Performance

Spotify Technology stock opened at $675.03 on Tuesday. Spotify Technology has a one year low of $376.00 and a one year high of $785.00. The business's fifty day moving average is $699.14 and its 200 day moving average is $673.60. The stock has a market capitalization of $138.19 billion, a PE ratio of 163.84, a price-to-earnings-growth ratio of 3.20 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the business earned $1.33 EPS. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect 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.

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