Spotify Technology $SPOT Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL has reduced its stock position in Spotify Technology by 41.3%, selling 4,748 shares and retaining 6,751 shares valued at approximately $3.71 million.
• Despite Gamco's reduction in holdings, other hedge funds like Cornerstone Planning Group LLC and North Star Investment Management Corp. have increased their stakes in Spotify, indicating mixed investment sentiments.
• Spotify Technology recorded a loss per share of ($0.42) in its latest earnings report, missing analyst expectations while revenue increased by 10.1% year-over-year, totaling $4.94 billion.

Gamco Investors INC. ET AL trimmed its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 41.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,751 shares of the company's stock after selling 4,748 shares during the quarter. Gamco Investors INC. ET AL's holdings in Spotify Technology were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in SPOT. Goldman Sachs Group Inc. grew its stake in Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Jennison Associates LLC grew its stake in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Janus Henderson Group PLC grew its stake in Spotify Technology by 325.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares during the last quarter. GAMMA Investing LLC grew its stake in Spotify Technology by 75,856.5% during the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after purchasing an additional 716,844 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Spotify Technology during the 1st quarter valued at about $383,139,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Down 0.7%

Shares of Spotify Technology stock traded down $4.62 on Friday, reaching $683.19. The company's stock had a trading volume of 1,004,079 shares, compared to its average volume of 1,712,580. The company has a market capitalization of $139.85 billion, a P/E ratio of 165.82, a PEG ratio of 2.93 and a beta of 1.71. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The stock has a 50-day moving average price of $701.49 and a 200-day moving average price of $643.74.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) 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 firm had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company earned $1.33 EPS. Spotify Technology's revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several research analyst reports. KeyCorp dropped their price target on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. UBS Group decreased their price objective on Spotify Technology from $895.00 to $850.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Finally, Morgan Stanley decreased their price objective on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $720.07.

About Spotify Technology

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.