Empowered Funds LLC Lowers Stock Position in Spotify Technology $SPOT

Key Points

• Empowered Funds LLC reduced its stock position in Spotify Technology by 13.8% during the first quarter, now holding 14,738 shares worth $8,106,000.
• Spotify reported a net loss of ($0.42) EPS for the quarter, significantly missing analysts' estimates of $2.00, but managed to achieve $4.94 billion in revenue, exceeding expectations.
• Analysts maintain a favorable outlook on Spotify, with 20 analysts rating it a "Buy" and a target price range adjustment, the average now pegged at $721.07.

Empowered Funds LLC trimmed its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,738 shares of the company's stock after selling 2,356 shares during the period. Empowered Funds LLC's holdings in Spotify Technology were worth $8,106,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPOT. Hartford Investment Management Co. increased its stake in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after acquiring an additional 16 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Spotify Technology by 3.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after purchasing an additional 17 shares during the period. HM Payson & Co. increased its position in Spotify Technology by 39.1% during the 1st quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares in the last quarter. Adero Partners LLC raised its holdings in Spotify Technology by 0.7% in the first quarter. Adero Partners LLC now owns 2,635 shares of the company's stock valued at $1,449,000 after buying an additional 19 shares during the period. Finally, North Star Investment Management Corp. lifted its position in 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 buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $719.89 on Wednesday. Spotify Technology has a one year low of $324.16 and a one year high of $785.00. The stock has a 50-day moving average price of $694.75 and a 200 day moving average price of $647.11. The company has a market capitalization of $147.37 billion, a P/E ratio of 174.73, a P/E/G ratio of 3.09 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SPOT shares. Morgan Stanley reduced their target price on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Citigroup boosted their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wells Fargo & Company increased their target price on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. The Goldman Sachs Group raised their target price on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $721.07.

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.

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