Spotify Technology $SPOT Shares Sold by Exchange Traded Concepts LLC

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 trimmed its stake in shares of 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 Securities and Exchange Commission. The firm owned 7,503 shares of the company's stock after selling 1,811 shares during the period. Exchange Traded Concepts LLC's holdings in Spotify Technology were worth $5,757,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SPOT. Tsfg LLC acquired a new stake in shares of Spotify Technology during the 1st quarter valued at approximately $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology during the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC increased its stake in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Spotify Technology during the 1st quarter worth approximately $34,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPOT has been the subject of several recent analyst reports. Pivotal Research lifted their target price 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. BNP Paribas Exane initiated coverage on shares of Spotify Technology in a research note on Tuesday. They issued an "outperform" rating and a $900.00 target price for the company. The Goldman Sachs Group lifted their target price 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. Cantor Fitzgerald lifted their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a report on Wednesday, June 18th. Finally, KeyCorp decreased their price target on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $726.84.

Spotify Technology Stock Up 0.1%

NYSE SPOT traded up $1.07 on Friday, hitting $735.19. The stock had a trading volume of 1,545,785 shares, compared to its average volume of 1,234,507. Spotify Technology has a one year low of $362.00 and a one year high of $785.00. The stock has a market cap of $150.50 billion, a price-to-earnings ratio of 178.44, a P/E/G ratio of 3.16 and a beta of 1.71. The company's 50-day moving average is $693.21 and its two-hundred day moving average is $653.48.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the company posted $1.33 EPS. Spotify Technology'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. On average, sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Spotify Technology 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.