Gotham Asset Management LLC Sells 3,590 Shares of Spotify Technology $SPOT

Key Points

• Gotham Asset Management LLC has reduced its stake in Spotify Technology by 13%, selling 3,590 shares, and now holds a total of 24,118 shares valued at approximately $13.27 million.
• Spotify Technology's stock opened at $707.72 with a market cap of $144.88 billion, and has experienced a significant range in the past year, with a low of $319.07 and a high of $785.00.
• Analysts have raised price targets for Spotify, with Canaccord Genuity setting a new target at $850 while the consensus rating remains a "Moderate Buy" with an average target price of $720.07.

Gotham Asset Management LLC cut its position in Spotify Technology (NYSE:SPOT - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,118 shares of the company's stock after selling 3,590 shares during the quarter. Gotham Asset Management LLC's holdings in Spotify Technology were worth $13,266,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the fourth quarter valued at $26,000. Tsfg LLC purchased a new position in shares of Spotify Technology in the first quarter valued at $28,000. Copia Wealth Management purchased a new position in shares of Spotify Technology in the fourth quarter valued at $29,000. Cornerstone Planning Group LLC grew its position in shares of 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 purchasing an additional 41 shares in the last quarter. Finally, North Star Investment Management Corp. grew its position in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Up 0.6%

Spotify Technology stock opened at $707.72 on Friday. Spotify Technology has a 52 week low of $319.07 and a 52 week high of $785.00. The business has a 50-day simple moving average of $695.80 and a 200 day simple moving average of $645.76. The stock has a market cap of $144.88 billion, a price-to-earnings ratio of 171.78, a PEG ratio of 3.04 and a beta of 1.71.

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 business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. Spotify Technology's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price target on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Morgan Stanley reduced their price target on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Guggenheim reiterated a "buy" rating and issued a $850.00 price target on shares of Spotify Technology in a research report on Wednesday. Finally, Cantor Fitzgerald lifted their price target on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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