Select Equity Group L.P. Cuts Holdings in Spotify Technology $SPOT

Key Points

• Select Equity Group L.P. reduced its stake in Spotify Technology by 21.6%, leaving them with 36,688 shares valued at approximately $20.18 million.
• Several institutional investors, including Jennison Associates LLC and Goldman Sachs Group Inc., increased their holdings in Spotify, indicating significant interest from the investment community.
• The latest earnings report revealed Spotify missed earnings estimates with a loss of ($0.42) per share, while revenue increased by 10.1% year-over-year, amounting to $4.94 billion.

Select Equity Group L.P. lowered its stake in Spotify Technology (NYSE:SPOT - Free Report) by 21.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,688 shares of the company's stock after selling 10,106 shares during the period. Select Equity Group L.P.'s holdings in Spotify Technology were worth $20,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPOT. Jennison Associates LLC lifted its stake in Spotify Technology by 42.3% in the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after buying an additional 112,553 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 worth $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp grew its holdings in Spotify Technology by 10.3% in the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock worth $866,012,000 after purchasing an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock worth $857,855,000 after purchasing an additional 174,700 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of several research reports. Canaccord Genuity Group lifted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Phillip Securities upgraded shares of Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. KeyCorp reduced their price target on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. The Goldman Sachs Group upped their price objective on shares of Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Guggenheim reaffirmed a "buy" rating and set a $850.00 price objective on shares of Spotify Technology in a research note on Wednesday. Twenty analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $720.07.

Spotify Technology Stock Performance

NYSE:SPOT opened at $707.72 on Friday. The stock has a market capitalization of $144.88 billion, a P/E ratio of 171.78, a PEG ratio of 3.04 and a beta of 1.71. The company has a 50 day moving average price of $695.80 and a 200 day moving average price of $645.76. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology's quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.

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