Spotify Technology $SPOT Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in Spotify Technology by 23.7%, selling 12,975 shares and holding 41,812 shares valued at approximately $22.99 million.
• Analysts have varying outlooks on Spotify with many raising their target prices; Guggenheim increased it to $850.00, while KeyCorp lowered it to $830.00.
• Spotify recently reported disappointing earnings with an EPS of ($0.42), missing estimates significantly, although it achieved revenues of $4.94 billion, surpassing expectations.

Gabelli Funds LLC decreased its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 23.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,812 shares of the company's stock after selling 12,975 shares during the period. Gabelli Funds LLC's holdings in Spotify Technology were worth $22,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the fourth quarter worth approximately $26,000. Tsfg LLC acquired a new stake in Spotify Technology in the first quarter valued at approximately $28,000. Copia Wealth Management acquired a new stake in Spotify Technology in the fourth quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its stake in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares in the last quarter. Finally, North Star Investment Management Corp. lifted 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 worth $30,000 after buying an additional 19 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Spotify Technology stock traded down $4.62 during midday trading on Friday, hitting $683.19. 1,004,079 shares of the company's stock were exchanged, compared to its average volume of 1,788,933. Spotify Technology has a 12-month low of $319.07 and a 12-month high of $785.00. The stock has a market cap of $139.85 billion, a price-to-earnings ratio of 165.82, a price-to-earnings-growth ratio of 2.93 and a beta of 1.69. The firm's 50 day simple moving average is $701.49 and its 200 day simple moving average is $643.77.

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 (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 business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The company'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, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Bank of America boosted their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Cantor Fitzgerald boosted their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Morgan Stanley lowered their price target on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, Benchmark decreased their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $720.07.

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.