Public Employees Retirement System of Ohio Has $102.95 Million Stock Holdings in Spotify Technology $SPOT

Key Points

• The Public Employees Retirement System of Ohio has cut its stake in Spotify Technology by 11.4%, now holding approximately 134,166 shares worth $102.95 million.
• Various institutional investors have significantly increased their holdings, with Goldman Sachs boosting its position by 1,151.0% and Jennison Associates increasing by 42.3% in the first quarter.
• Spotify reported a Q2 earnings per share (EPS) of -$0.42, missing estimates by $2.42, although it achieved a revenue of $4.94 billion, surpassing the expectation of $4.29 billion.

Public Employees Retirement System of Ohio reduced its stake in Spotify Technology (NYSE:SPOT - Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,166 shares of the company's stock after selling 17,263 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.07% of Spotify Technology worth $102,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after acquiring an additional 1,601,653 shares during the period. Jennison Associates LLC boosted its stake in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Spotify Technology by 75,856.5% in the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after purchasing an additional 716,844 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth about $383,139,000. Finally, Axiom Investors LLC DE lifted its holdings in Spotify Technology by 216.8% during the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock valued at $395,847,000 after purchasing an additional 492,504 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $717.57 on Wednesday. The firm's 50 day simple moving average is $693.76 and its 200 day simple moving average is $656.13. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00. The company has a market capitalization of $146.89 billion, a price-to-earnings ratio of 174.17, a P/E/G ratio of 3.18 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm 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 firm's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a research note on Wednesday, July 30th. KeyCorp reduced their target price on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Sanford C. Bernstein raised their price target on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley decreased their target price on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.