Spotify Technology $SPOT Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its stake in Spotify Technology by 31.8% in Q2, owning 244,334 shares now valued at approximately $187.5 million, making it the 10th largest position in their portfolio.
• Goldman Sachs Group Inc. significantly increased its stake in Spotify by 1,151.0%, now owning over 1.7 million shares valued at nearly $957.5 million.
• Spotify's recent quarterly earnings showed a net revenue of $4.94 billion, exceeding analyst estimates, but it reported a loss of ($0.42) EPS, missing the consensus estimate of $2.00 by a substantial margin.

Perpetual Ltd decreased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 31.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 244,334 shares of the company's stock after selling 114,159 shares during the quarter. Spotify Technology makes up about 2.2% of Perpetual Ltd's holdings, making the stock its 10th largest position. Perpetual Ltd owned 0.12% of Spotify Technology worth $187,487,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its stake in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after buying an additional 41 shares during the period. Tsfg LLC acquired a new stake in shares of Spotify Technology during the first quarter worth about $28,000. North Star Investment Management Corp. boosted its stake in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares during the period. Truvestments Capital LLC acquired a new stake in Spotify Technology in the first quarter valued at about $34,000. Finally, Copia Wealth Management acquired a new stake in Spotify Technology in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Up 0.3%

Shares of SPOT traded up $2.36 on Monday, hitting $737.28. 979,677 shares of the stock traded hands, compared to its average volume of 2,190,977. The firm has a market capitalization of $150.93 billion, a P/E ratio of 178.95, a P/E/G ratio of 3.16 and a beta of 1.71. The stock's 50 day moving average is $693.21 and its two-hundred day moving average is $654.26. Spotify Technology has a 1 year low of $362.31 and a 1 year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the company posted $1.33 EPS. The business's quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SPOT shares. BNP Paribas upgraded shares of Spotify Technology to a "strong-buy" rating in a research report on Tuesday, September 16th. Citigroup raised their price objective on shares of Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research report on Tuesday, September 9th. Rosenblatt Securities reduced their price objective on shares of Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, KeyCorp dropped their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.84.

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.