Rokos Capital Management LLP Increases Stock Position in Spotify Technology $SPOT

Key Points

• Rokos Capital Management more than doubled its Spotify stake in the first quarter, adding 46,555 shares to own 90,446 shares valued at approximately $43.9 million. Hedge funds and other institutions collectively own 84.09% of the company.
• Spotify reported quarterly EPS of $4.04, exceeding the $3.41 consensus estimate, while revenue rose 8.2% year over year to $5.25 billion. The company posted a 15.56% net margin and 35.73% return on equity.
• Analysts maintain a generally positive outlook, with Spotify carrying a “Moderate Buy” consensus rating and an average price target of $630.70 versus a recent price of $495.05, although several firms recently reduced their targets or earnings estimates.

Rokos Capital Management LLP raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 106.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,446 shares of the company's stock after acquiring an additional 46,555 shares during the period. Rokos Capital Management LLP's holdings in Spotify Technology were worth $43,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp boosted its position in shares of Spotify Technology by 1.9% during the 4th quarter. State Street Corp now owns 4,712,249 shares of the company's stock worth $2,736,450,000 after purchasing an additional 89,951 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Spotify Technology by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company's stock valued at $2,247,042,000 after purchasing an additional 149,479 shares during the last quarter. Capital World Investors raised its position in Spotify Technology by 4.9% in the fourth quarter. Capital World Investors now owns 2,863,821 shares of the company's stock valued at $1,663,024,000 after purchasing an additional 133,108 shares during the period. Fisher Asset Management LLC raised its position in Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company's stock valued at $1,547,890,000 after purchasing an additional 62,887 shares during the period. Finally, Coatue Management LLC lifted its stake in Spotify Technology by 35.9% during the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company's stock worth $1,423,251,000 after purchasing an additional 647,708 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

SPOT stock opened at $495.05 on Tuesday. The business's 50-day moving average is $482.63 and its two-hundred day moving average is $487.08. The firm has a market capitalization of $101.92 billion, a P/E ratio of 39.45, a P/E/G ratio of 1.19 and a beta of 1.56. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $748.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts' consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Spotify Technology will post 14.51 EPS for the current year.

Spotify Technology News Roundup

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: KeyCorp maintained an “Overweight” rating and a $680 price target, well above Spotify’s recent trading level. The firm’s FY2026 and FY2027 EPS forecasts of $16.64 and $21.61, respectively, remain above the current-year consensus estimate of $14.51, suggesting expectations for continued earnings growth. KeyCorp Spotify analyst estimates
• Positive Sentiment: An investment analysis described Spotify as a potential “buy-the-dip” opportunity, citing robust monthly active-user and premium-subscriber growth, geographic diversification, and improving monetization. The thesis argues that the stock’s decline from its all-time high was not justified by underlying business fundamentals. Spotify buy-the-dip analysis
• Neutral Sentiment: Recent market coverage highlighted Spotify’s stronger trading performance versus the market, but provided limited information on a new company-specific catalyst. The stock’s move appears to reflect favorable sentiment rather than a material earnings or product announcement. Spotify rises higher than market
• Negative Sentiment: KeyCorp reduced its EPS forecasts across multiple periods: Q2 2026 to $3.78 from $3.82, Q3 to $4.03 from $4.24, Q4 to $4.92 from $5.06, FY2026 to $16.64 from $17.11, and FY2027 to $21.61 from $22.78. These cuts indicate somewhat lower near- and long-term earnings expectations, despite the firm retaining its bullish rating and price target. KeyCorp lowers Spotify earnings estimates

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp lowered their price target on Spotify Technology from $745.00 to $680.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Barclays increased their target price on Spotify Technology from $500.00 to $565.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. Weiss Ratings cut Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Rosenblatt Securities dropped their target price on Spotify Technology from $534.00 to $531.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group reduced their price target on shares of Spotify Technology from $750.00 to $720.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of "Moderate Buy" and a consensus price target of $630.70.

Insider Buying and Selling

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of Spotify Technology stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total value of $18,600,327.40. Following the completion of the transaction, the director owned 6,383 shares in the company, valued at $3,355,734.59. The trade was a 84.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas O. Staggs sold 5,477 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the transaction, the director owned 3,619 shares of the company's stock, valued at $1,903,594. This trade represents a 60.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 111,442 shares of company stock valued at $54,757,553 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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