Cwm LLC Sells 10,840 Shares of Spotify Technology $SPOT

Key Points

• Cwm LLC has reduced its stake in Spotify Technology by 31.4%, selling 10,840 shares and now holding a total of 23,642 shares worth approximately $18.1 million.
• Spotify reported a loss of $0.42 per share in its latest earnings report, missing the consensus estimate of $2.00, despite a revenue increase of 10.1% compared to the previous year.
• Shares of Spotify Technology saw a slight increase of 0.9%, with a current market cap of $141.53 billion and a mixed response from analysts regarding target prices and ratings.

Cwm LLC trimmed its position in Spotify Technology (NYSE:SPOT - Free Report) by 31.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,642 shares of the company's stock after selling 10,840 shares during the quarter. Cwm LLC's holdings in Spotify Technology were worth $18,141,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sapient Capital LLC bought a new position in Spotify Technology in the second quarter valued at approximately $322,000. Swedbank AB grew its stake in shares of Spotify Technology by 1.4% during the first quarter. Swedbank AB now owns 959,587 shares of the company's stock worth $527,802,000 after buying an additional 13,458 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in shares of Spotify Technology by 110.9% during the second quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company's stock worth $2,990,000 after buying an additional 2,049 shares during the last quarter. Harbor Investment Advisory LLC grew its stake in shares of Spotify Technology by 36.0% during the second quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company's stock worth $1,576,000 after buying an additional 544 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in shares of Spotify Technology by 39.8% during the first quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company's stock worth $1,486,000 after buying an additional 769 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Up 0.9%

Shares of Spotify Technology stock opened at $691.38 on Tuesday. Spotify Technology has a twelve month low of $364.26 and a twelve month high of $785.00. The stock has a market cap of $141.53 billion, a price-to-earnings ratio of 167.81, a P/E/G ratio of 3.23 and a beta of 1.67. The company's fifty day moving average is $699.82 and its 200 day moving average is $669.16.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the firm earned $1.33 EPS. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPOT. Barclays decreased their target price on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Guggenheim reaffirmed a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research note on Wednesday, September 3rd. Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. BNP Paribas raised shares of Spotify Technology to a "strong-buy" rating in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group cut shares of Spotify Technology from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $765.00 to $770.00 in a research note on Tuesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $731.16.

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.

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.