Spotify Technology $SPOT is WCM Investment Management LLC's 2nd Largest Position

Key Points

• WCM Investment Management LLC has reduced its stake in Spotify Technology by 0.8%, while still making it their 2nd biggest position with 3,352,959 shares valued at approximately $2.59 billion.
• Spotify reported a loss of $0.42 earnings per share, missing expectations, despite a revenue increase of 10.1% year-over-year to $4.94 billion.
• Wall Street analysts have shown optimism for Spotify, with reports giving it an average rating of "Moderate Buy" and a consensus target price of $731.16.

WCM Investment Management LLC lessened its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 0.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,352,959 shares of the company's stock after selling 25,916 shares during the period. Spotify Technology comprises about 5.9% of WCM Investment Management LLC's holdings, making the stock its 2nd biggest position. WCM Investment Management LLC owned about 1.64% of Spotify Technology worth $2,590,496,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH increased its holdings in Spotify Technology by 52.1% during the second quarter. Allianz Asset Management GmbH now owns 305,125 shares of the company's stock worth $234,135,000 after buying an additional 104,493 shares during the last quarter. Rheos Capital Works Inc. purchased a new stake in Spotify Technology during the second quarter worth about $47,575,000. Mutual Advisors LLC increased its holdings in Spotify Technology by 37.1% during the second quarter. Mutual Advisors LLC now owns 466 shares of the company's stock worth $358,000 after buying an additional 126 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in Spotify Technology by 72.4% during the second quarter. Generali Asset Management SPA SGR now owns 51,969 shares of the company's stock worth $39,023,000 after buying an additional 21,827 shares during the last quarter. Finally, Granite Group Advisors LLC increased its holdings in Spotify Technology by 6.8% during the second quarter. Granite Group Advisors LLC now owns 737 shares of the company's stock worth $566,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Down 1.6%

SPOT opened at $672.27 on Thursday. The company has a market capitalization of $137.62 billion, a price-to-earnings ratio of 163.17, a PEG ratio of 3.22 and a beta of 1.67. The firm has a 50-day moving average price of $700.64 and a 200-day moving average price of $669.28. Spotify Technology has a twelve month low of $366.65 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 business had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business earned $1.33 EPS. Spotify Technology'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. On average, sell-side analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Argus assumed coverage on shares of Spotify Technology in a report on Monday, September 29th. They set a "buy" rating and a $845.00 price objective for the company. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. BNP Paribas upgraded shares of Spotify Technology to a "strong-buy" rating in a report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Finally, Oppenheimer lifted their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $731.16.

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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