Spotify Technology $SPOT Shares Sold by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC reduced its stake in Spotify Technology by 15.6%, now holding 358,284 shares valued at approximately $197 million.
• Institutional investors own 84.09% of Spotify Technology, with notable increases from Goldman Sachs and Jennison Associates, showing positive investor sentiment.
• Spotify's stock recently saw analysts revise price targets upwards, with a consensus average target of $720.07 reflecting optimism despite a recent earnings miss.

Fred Alger Management LLC reduced its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,284 shares of the company's stock after selling 66,241 shares during the quarter. Spotify Technology accounts for 1.1% of Fred Alger Management LLC's holdings, making the stock its 18th largest position. Fred Alger Management LLC owned approximately 0.18% of Spotify Technology worth $197,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of SPOT. Goldman Sachs Group Inc. grew its stake in shares of Spotify Technology by 1,151.0% during the 1st 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 period. Jennison Associates LLC boosted its holdings in Spotify Technology by 42.3% during the first quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after buying an additional 1,262,614 shares in the last quarter. Janus Henderson Group PLC grew its position in Spotify Technology by 325.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after buying an additional 861,232 shares during the period. GAMMA Investing LLC grew its position in Spotify Technology by 75,856.5% during the first quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after buying an additional 716,844 shares during the period. Finally, Nuveen LLC purchased a new position in Spotify Technology in the first quarter valued at $383,139,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Pivotal Research boosted their price objective on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research report on Tuesday, June 17th. Benchmark decreased their target price on Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Evercore ISI lifted their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, Bank of America upped their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Twenty investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average price target of $720.07.

Spotify Technology Stock Performance

NYSE SPOT opened at $707.72 on Monday. The business has a fifty day moving average price of $695.80 and a 200 day moving average price of $645.82. The company has a market cap of $144.88 billion, a P/E ratio of 171.78, a P/E/G ratio of 3.04 and a beta of 1.71. Spotify Technology has a one year low of $319.07 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate 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%.The company's revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

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.

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