Price T Rowe Associates Inc. MD Sells 1,193,647 Shares of Spotify Technology $SPOT

Key Points

• Price T Rowe Associates Inc. reduced its stake in Spotify Technology by 37.6%, selling 1,193,647 shares and retaining a total of 1,980,258 shares, valued at over $1 billion.
• Several research firms have upgraded their price targets for Spotify, with Wells Fargo increasing their target from $740 to $750, while Pivotal Research raised theirs significantly from $800 to $900.
• Spotify reported net income loss of ($0.42) EPS for the last quarter, missing analysts' expectations, despite revenue growth of 10.1% year-over-year, reaching $4.94 billion.

Price T Rowe Associates Inc. MD reduced its position in Spotify Technology (NYSE:SPOT - Free Report) by 37.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,980,258 shares of the company's stock after selling 1,193,647 shares during the period. Price T Rowe Associates Inc. MD owned 0.97% of Spotify Technology worth $1,089,202,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology during the 4th quarter worth approximately $26,000. Tsfg LLC purchased a new stake in Spotify Technology during the 1st quarter worth approximately $28,000. Copia Wealth Management purchased a new stake in Spotify Technology during the 4th quarter worth approximately $29,000. Cornerstone Planning Group LLC grew its position in Spotify Technology by 512.5% during the 1st 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 last quarter. Finally, North Star Investment Management Corp. grew its position in Spotify Technology by 52.8% during the 1st 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 last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SPOT. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein lifted their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Pivotal Research lifted their price objective 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. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Price Performance

SPOT opened at $690.5170 on Friday. The firm has a fifty day moving average price of $704.08 and a 200 day moving average price of $641.06. Spotify Technology has a 1 year low of $319.07 and a 1 year high of $785.00. The stock has a market cap of $141.36 billion, a P/E ratio of 167.60, a P/E/G ratio of 3.03 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its 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). 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 earned $1.33 earnings per share. The business'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. Equities analysts expect 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.

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