Exchange Traded Concepts LLC Reduces Stock Position in Spotify Technology $SPOT

Key Points

• Exchange Traded Concepts LLC decreased its holdings in Spotify Technology ($SPOT) by 19.4% in Q2, reducing its shares to 7,503 and valuing its investment at $5.76 million.
• The company's recent earnings report revealed a loss of ($0.42) EPS, missing estimates significantly, while revenue rose 10.1% year-over-year to $4.94 billion.
• Spotify's stock currently has a consensus rating of "Moderate Buy" with an average price target of $726.84, amid recent adjustments from several investment analysts.

Exchange Traded Concepts LLC decreased its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,503 shares of the company's stock after selling 1,811 shares during the quarter. Exchange Traded Concepts LLC's holdings in Spotify Technology were worth $5,757,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Tidal Investments LLC lifted its position in shares of Spotify Technology by 14.8% during the 4th quarter. Tidal Investments LLC now owns 4,603 shares of the company's stock valued at $2,059,000 after buying an additional 595 shares in the last quarter. Continuum Advisory LLC lifted its holdings in Spotify Technology by 11.5% during the fourth quarter. Continuum Advisory LLC now owns 349 shares of the company's stock valued at $156,000 after purchasing an additional 36 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new position in shares of Spotify Technology in the fourth quarter worth approximately $257,000. Vise Technologies Inc. purchased a new stake in shares of Spotify Technology in the fourth quarter worth $556,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Spotify Technology by 18.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 159,179 shares of the company's stock valued at $71,214,000 after purchasing an additional 24,861 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SPOT. Evercore ISI increased their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Canaccord Genuity Group boosted their target price on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Pivotal Research boosted their price target on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Oppenheimer boosted their price target on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $726.84.

Spotify Technology Price Performance

Shares of NYSE SPOT traded up $2.22 during mid-day trading on Monday, hitting $737.14. The company had a trading volume of 690,151 shares, compared to its average volume of 2,189,211. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00. The company has a market capitalization of $150.90 billion, a PE ratio of 179.16, a price-to-earnings-growth ratio of 3.16 and a beta of 1.71. The business's 50-day simple moving average is $693.21 and its 200 day simple moving average is $654.26.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results 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). The company had revenue of $4.94 billion during 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%. During the same quarter last year, the business posted $1.33 earnings per share. The company'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. On average, analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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.