Gries Financial LLC Trims Holdings in Spotify Technology $SPOT

Key Points

• Gries Financial LLC reduced its stake in Spotify Technology by 47.4% in Q2, holding just 636 shares worth approximately $488,000 after selling 573 shares during the period.
• In recent analyst reports, Evercore ISI increased Spotify's price target to $750 while Morgan Stanley lowered theirs to $800, reflecting a wide range of outlooks on the stock.
• Spotify reported a (0.42) EPS for the last quarter, missing estimates, but achieved revenue of $4.94 billion, outperforming expectations by $0.65 billion.

Gries Financial LLC lessened its stake in Spotify Technology (NYSE:SPOT - Free Report) by 47.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 636 shares of the company's stock after selling 573 shares during the period. Gries Financial LLC's holdings in Spotify Technology were worth $488,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in shares of Spotify Technology by 1,508.1% in the 4th quarter. Mackenzie Financial Corp now owns 50,574 shares of the company's stock worth $22,626,000 after purchasing an additional 47,429 shares during the last quarter. Ascent Group LLC grew its stake in Spotify Technology by 13.0% in the fourth quarter. Ascent Group LLC now owns 749 shares of the company's stock worth $335,000 after purchasing an additional 86 shares in the last quarter. Integrated Advisors Network LLC increased its holdings in Spotify Technology by 5.7% in the fourth quarter. Integrated Advisors Network LLC now owns 2,870 shares of the company's stock valued at $1,284,000 after buying an additional 154 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Spotify Technology by 15.4% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 957 shares of the company's stock valued at $428,000 after buying an additional 128 shares in the last quarter. Finally, Brooklyn FI LLC bought a new position in Spotify Technology during the 4th quarter worth approximately $658,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPOT. Evercore ISI upped their price target on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Morgan Stanley decreased their price target on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. BNP Paribas Exane initiated coverage on shares of Spotify Technology in a research note on Tuesday, September 16th. They set an "outperform" rating and a $900.00 price objective on the stock. Bank of America lifted their target price on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, KeyCorp reduced their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.84.

Spotify Technology Trading Down 2.8%

SPOT stock opened at $717.57 on Wednesday. The firm's 50-day moving average is $693.76 and its two-hundred day moving average is $656.13. The company has a market capitalization of $146.89 billion, a price-to-earnings ratio of 174.17, a price-to-earnings-growth ratio of 3.18 and a beta of 1.71. Spotify Technology has a 52 week low of $362.31 and a 52 week high of $785.00.

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 the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts predict 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.

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