EFG Asset Management North America Corp. Decreases Stock Holdings in Spotify Technology $SPOT

Key Points

• EFG Asset Management North America Corp. has decreased its holdings in Spotify Technology by 42.7%, owning 4,884 shares valued at approximately $2.69 million after selling 3,633 shares.
• Spotify's quarterly revenue increased by 10.1% year-over-year to $4.94 billion, although it reported an earnings per share (EPS) loss of ($0.42), missing expectations significantly.
• A number of institutions are actively trading Spotify, with 84.09% of the stock now held by hedge funds, indicating a shifting landscape among institutional investors.

EFG Asset Management North America Corp. reduced its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 42.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,884 shares of the company's stock after selling 3,633 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Spotify Technology were worth $2,687,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $26,000. Tsfg LLC purchased a new stake in shares of Spotify Technology during the first quarter valued at $28,000. Copia Wealth Management purchased a new stake in shares of Spotify Technology during the fourth quarter valued at $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research note on Wednesday, September 3rd. Evercore ISI boosted their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Phillip Securities raised shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a research note on Monday, August 4th. Pivotal Research upped their price objective on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $720.07.

Spotify Technology Price Performance

Shares of SPOT stock traded up $11.50 during mid-day trading on Monday, hitting $718.69. 1,181,779 shares of the stock traded hands, compared to its average volume of 2,234,899. The stock has a market cap of $147.12 billion, a P/E ratio of 174.44, a P/E/G ratio of 3.04 and a beta of 1.71. The stock's fifty day moving average is $695.80 and its two-hundred day moving average is $645.82. Spotify Technology has a 52-week low of $322.35 and a 52-week high of $785.00.

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