Northwest & Ethical Investments L.P. Cuts Stake in Spotify Technology $SPOT

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in Spotify Technology by 55.6%, now holding 7,606 shares worth approximately $4.18 million.
• Spotify Technology stock rose by 4.8% recently, with the firm currently having a market capitalization of $149.79 billion.
• Analysts have varying price targets for Spotify shares, with consensus suggesting a target price of $718.90 and a rating of "Moderate Buy."

Northwest & Ethical Investments L.P. lessened its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 55.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,606 shares of the company's stock after selling 9,541 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Spotify Technology were worth $4,181,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its holdings in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Tsfg LLC purchased a new position in shares of Spotify Technology during the 1st quarter worth $28,000. North Star Investment Management Corp. lifted its stake in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock worth $30,000 after purchasing an additional 19 shares during the period. Mpwm Advisory Solutions LLC purchased a new position in shares of Spotify Technology during the 4th quarter worth $26,000. Finally, Copia Wealth Management purchased a new position in shares of Spotify Technology during the 4th quarter worth $29,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Performance

Spotify Technology stock traded down $13.2730 during midday trading on Thursday, reaching $690.5170. The stock had a trading volume of 1,613,012 shares, compared to its average volume of 2,309,173. Spotify Technology has a twelve month low of $319.07 and a twelve month high of $785.00. The stock has a market capitalization of $141.36 billion, a PE ratio of 167.60, a price-to-earnings-growth ratio of 3.09 and a beta of 1.69. The stock's 50-day simple moving average is $704.31 and its 200 day simple moving average is $640.09.

Spotify Technology (NYSE:SPOT - Get Free Report) last released 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 net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period last year, the business earned $1.33 earnings per share. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SPOT. Canaccord Genuity Group increased their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price target on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Evercore ISI increased their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Oppenheimer increased their price target on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday. Finally, Cantor Fitzgerald increased their price target on Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 18th. Twenty research 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.