Kestra Investment Management LLC Has $1.11 Million Holdings in Spotify Technology $SPOT

Key Points

• Kestra Investment Management LLC has reduced its holdings in Spotify Technology by 27.3%, ending the quarter with a total value of $1.11 million after selling 757 shares.
• Multiple institutional investors, including Jennison Associates LLC and Goldman Sachs Group Inc., have increased their stakes in Spotify Technology significantly, indicating growing confidence in the company.
• Spotify reported (0.42) earnings per share for the last quarter, missing the consensus estimate, but its revenue of $4.94 billion exceeded expectations, increasing 10.1% year-over-year.

Kestra Investment Management LLC lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,016 shares of the company's stock after selling 757 shares during the quarter. Kestra Investment Management LLC's holdings in Spotify Technology were worth $1,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC increased its position in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock worth $1,939,949,000 after buying an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after buying an additional 1,601,653 shares during the last quarter. Northern Trust Corp increased its position in Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock worth $866,012,000 after buying an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden boosted its holdings in shares of Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock worth $857,855,000 after acquiring an additional 174,700 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Trading Up 0.6%

Shares of SPOT stock opened at $707.72 on Monday. The stock has a market cap of $144.88 billion, a P/E ratio of 171.78, a price-to-earnings-growth ratio of 3.04 and a beta of 1.71. The stock has a 50 day simple moving average of $695.80 and a 200 day simple moving average of $645.82. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company's quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SPOT. Sanford C. Bernstein boosted their price objective on Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley reduced 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. Pivotal Research upped their price target 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. Evercore ISI upped their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, UBS Group decreased their price target on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" 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 given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has an average 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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