Gables Capital Management Inc. Lowers Stake in Spotify Technology $SPOT

Key Points

• Gables Capital Management Inc. reduced its stake in Spotify Technology by 76% in the second quarter, ending up with only 205 shares worth $157,000.
• Spotify's stock was up 1.9% and currently has a market cap of $140.95 billion, with a fifty-two week price range from $376.00 to $785.00.
• The company reported a loss of ($0.42) earnings per share for the last quarter, missing estimates significantly, though revenue was up 10.1% year-over-year at $4.94 billion.

Gables Capital Management Inc. cut its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 76.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205 shares of the company's stock after selling 650 shares during the quarter. Gables Capital Management Inc.'s holdings in Spotify Technology were worth $157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Spotify Technology by 43.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,336 shares of the company's stock worth $1,792,000 after buying an additional 711 shares in the last quarter. Whittier Trust Co. grew its holdings in Spotify Technology by 19.4% in the second quarter. Whittier Trust Co. now owns 4,205 shares of the company's stock valued at $3,227,000 after purchasing an additional 682 shares during the period. Klingman & Associates LLC purchased a new stake in Spotify Technology in the second quarter valued at approximately $438,000. Phoenix Financial Ltd. purchased a new stake in Spotify Technology in the second quarter valued at approximately $1,905,000. Finally, Avidian Wealth Enterprises LLC purchased a new stake in Spotify Technology in the second quarter valued at approximately $248,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 1.9%

Shares of SPOT stock opened at $688.54 on Wednesday. The stock has a market cap of $140.95 billion, a price-to-earnings ratio of 167.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67. Spotify Technology has a fifty-two week low of $376.00 and a fifty-two week high of $785.00. The firm's 50 day moving average price is $699.13 and its two-hundred day moving average price is $673.70.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Benchmark lowered their target price on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. KeyCorp lowered their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Oppenheimer boosted their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a report on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

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.

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