Jacobs Levy Equity Management Inc. Cuts Position in Spotify Technology $SPOT

Key Points

• Jacobs Levy Equity Management Inc. has reduced its holdings in Spotify Technology by 27.2%, now owning approximately 480,916 shares valued at $264.52 million.
• During the first quarter, other institutional investors increased their stakes in Spotify, with Hancock Whitney Corp growing its position by an impressive 300.7%.
• Spotify reported a net margin of 4.76% for the last quarter, with revenue of $4.94 billion, surpassing analyst expectations significantly.

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 27.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 480,916 shares of the company's stock after selling 179,661 shares during the quarter. Spotify Technology makes up 1.0% of Jacobs Levy Equity Management Inc.'s portfolio, making the stock its 16th biggest position. Jacobs Levy Equity Management Inc. owned 0.23% of Spotify Technology worth $264,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Planning Group LLC grew its stake in 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 during the period. Tsfg LLC purchased a new stake in Spotify Technology in the first quarter worth $28,000. North Star Investment Management Corp. grew its stake in Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the fourth quarter worth $26,000. Finally, Truvestments Capital LLC purchased a new stake in Spotify Technology in the first quarter worth $34,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of Spotify Technology stock traded up $1.61 during trading on Tuesday, hitting $719.89. 942,829 shares of the company's stock traded hands, compared to its average volume of 2,227,348. Spotify Technology has a 1 year low of $324.16 and a 1 year high of $785.00. The stock 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 simple moving average of $694.82 and a 200-day simple moving average of $646.60.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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). 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 the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $1.33 EPS. The firm's revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPOT shares. The Goldman Sachs Group upped their price target on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their target price on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Cantor Fitzgerald increased their target price on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Wells Fargo & Company increased their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Canaccord Genuity Group increased their target price on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Twenty analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $721.07.

Spotify Technology Company 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.