Quantitative Investment Management LLC Sells 8,683 Shares of Spotify Technology $SPOT

Key Points

• Quantitative Investment Management LLC reduced its Spotify holdings by 74.1%, selling 8,683 shares and now owns only 3,028 shares valued at $1,665,000.
• Goldman Sachs significantly increased its ownership in Spotify by 1,151%, acquiring an additional 1.6 million shares, now totaling 1.7 million shares worth approximately $957 million.
• Spotify's Q2 earnings report revealed a loss of ($0.42) EPS, falling short of estimates, despite a revenue increase of 10.1% year-over-year, totaling $4.94 billion.

Quantitative Investment Management LLC lessened its position in Spotify Technology (NYSE:SPOT - Free Report) by 74.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,028 shares of the company's stock after selling 8,683 shares during the quarter. Quantitative Investment Management LLC's holdings in Spotify Technology were worth $1,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC lifted 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 during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Spotify Technology by 3.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after purchasing an additional 112,553 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the period. Northern Trust Corp lifted its stake in shares of Spotify Technology by 10.3% in the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock valued at $866,012,000 after purchasing an additional 147,580 shares during the period. Finally, Forsta AP Fonden raised its stake in Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after buying an additional 174,700 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Price Performance

Shares of SPOT traded down $3.70 during trading hours on Wednesday, hitting $692.77. The stock had a trading volume of 901,461 shares, compared to its average volume of 2,170,525. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00. The firm has a market capitalization of $141.82 billion, a PE ratio of 168.15, a PEG ratio of 3.00 and a beta of 1.69. The stock has a fifty day moving average price of $702.44 and a 200 day moving average price of $642.99.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPOT. Sanford C. Bernstein lifted their price objective on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Pivotal Research lifted their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. Oppenheimer lifted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research note on Monday, August 18th. Rosenblatt Securities lowered their price objective on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating for the company in a research note on Wednesday, July 30th. Finally, KeyCorp lowered their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology 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.