MetLife Investment Management LLC Sells 2,119 Shares of Spotify Technology $SPOT

Key Points

• MetLife Investment Management LLC reduced its stake in Spotify Technology by 7.9%, holding 24,842 shares now valued at approximately $13.66 million.
• Spotify Technology reported a Q2 earnings per share (EPS) of ($0.42), missing expectations significantly, although it achieved revenue of $4.94 billion—higher than anticipated.
• Analyst price targets for Spotify have been revised upward, with Bank of America setting a target at $900 and a consensus rating of "Moderate Buy" across 30 analysts.

MetLife Investment Management LLC trimmed its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 7.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 24,842 shares of the company's stock after selling 2,119 shares during the quarter. MetLife Investment Management LLC's holdings in Spotify Technology were worth $13,664,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SPOT. Goldman Sachs Group Inc. lifted its position in shares of Spotify Technology by 1,151.0% during the 1st 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. Jennison Associates LLC lifted its position in shares of Spotify Technology by 42.3% during the 1st 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. Janus Henderson Group PLC lifted its position in shares of Spotify Technology by 325.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock worth $503,316,000 after buying an additional 861,232 shares during the last quarter. Northern Trust Corp lifted its position in shares of Spotify Technology by 103.7% during the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock worth $638,367,000 after buying an additional 726,245 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Spotify Technology by 75,856.5% during the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after buying an additional 716,844 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SPOT shares. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Evercore ISI upped their price objective on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Canaccord Genuity Group upped their price objective on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Guggenheim increased their target price on Spotify Technology from $800.00 to $850.00 and gave the company a "buy" rating in a research report on Monday, August 18th. Finally, Cantor Fitzgerald increased their target price 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 investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Stock Performance

Shares of SPOT stock traded down $4.62 on Friday, hitting $683.19. The company had a trading volume of 1,004,079 shares, compared to its average volume of 1,788,933. The firm has a market cap of $139.85 billion, a P/E ratio of 165.82, a P/E/G ratio of 2.93 and a beta of 1.69. The stock's 50-day moving average is $701.49 and its two-hundred day moving average is $643.77. Spotify Technology has a twelve month low of $319.07 and a twelve month 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 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 company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $1.33 EPS. The company's quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts predict that Spotify Technology will post 10.3 EPS for the current year.

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.