Interval Partners LP Sells 24,515 Shares of Spotify Technology $SPOT

Key Points

• Interval Partners LP reduced its holdings in Spotify by 60.8%, now owning 15,835 shares valued at approximately $8.71 million.
• Other institutional investors, including Jennison Associates LLC and Goldman Sachs, have increased their stakes, with Goldman Sachs raising its holding by an impressive 1,151.0%.
• Spotify Technology reported a quarterly loss of ($0.42) per share, significantly missing analysts' estimates, despite a year-over-year revenue increase of 10.1%.

Interval Partners LP trimmed its stake in Spotify Technology (NYSE:SPOT - Free Report) by 60.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,835 shares of the company's stock after selling 24,515 shares during the quarter. Interval Partners LP's holdings in Spotify Technology were worth $8,710,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SPOT. Cornerstone Planning Group LLC lifted 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 worth $29,000 after purchasing an additional 41 shares in the last quarter. Tsfg LLC acquired a new position in Spotify Technology in the 1st quarter valued at approximately $28,000. North Star Investment Management Corp. lifted its position in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the 4th quarter worth approximately $26,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology during the 1st quarter valued at $34,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Up 0.2%

SPOT traded up $1.61 during trading on Tuesday, reaching $719.89. 944,640 shares of the company's stock were exchanged, compared to its average volume of 2,227,352. The company has a market capitalization of $147.37 billion, a P/E ratio of 174.73, a PEG ratio of 3.04 and a beta of 1.71. The business has a 50 day moving average price of $694.82 and a 200 day moving average price of $646.60. Spotify Technology has a fifty-two week low of $324.16 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued 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 net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. The firm'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. As a group, research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

SPOT has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Bank of America boosted their price target on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Morgan Stanley cut their price objective 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. Pivotal Research lifted their target price on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Finally, Rosenblatt Securities dropped their price target on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.07.

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.