Spotify Technology $SPOT Shares Sold by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC sold 751 shares of Spotify Technology, reducing its holdings by 17.4%, leaving it with 3,569 shares valued at approximately $1.96 million.
• Goldman Sachs significantly increased its ownership in Spotify by 1,151%, while Jennison Associates and GAMMA Investing also raised their stakes substantially during the first quarter.
• Spotify's latest earnings report showed a loss of $0.42 EPS, missing estimates of $2.00, although the company recorded a revenue increase of 10.1% year-over-year.

RWA Wealth Partners LLC trimmed its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 17.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,569 shares of the company's stock after selling 751 shares during the period. RWA Wealth Partners LLC's holdings in Spotify Technology were worth $1,963,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SPOT. Goldman Sachs Group Inc. raised its position in shares of Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock valued at $957,494,000 after purchasing an additional 1,601,653 shares in the last quarter. Jennison Associates LLC raised its position in shares of Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock valued at $2,336,494,000 after purchasing an additional 1,262,614 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Spotify Technology by 325.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,125,465 shares of the company's stock valued at $503,316,000 after purchasing an additional 861,232 shares in the last quarter. Northern Trust Corp raised its position in shares of Spotify Technology by 103.7% in the 4th quarter. Northern Trust Corp now owns 1,426,902 shares of the company's stock valued at $638,367,000 after purchasing an additional 726,245 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Spotify Technology by 75,856.5% during the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock valued at $394,805,000 after acquiring an additional 716,844 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Oppenheimer upped their price target on Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday. Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Rosenblatt Securities dropped their price target on Spotify Technology from $703.00 to $679.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. Finally, Sanford C. Bernstein upped their price target on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Price Performance

Shares of SPOT opened at $719.8870 on Wednesday. The company has a market cap of $147.37 billion, a P/E ratio of 174.73, a PEG ratio of 3.15 and a beta of 1.69. The stock has a fifty day moving average price of $704.39 and a 200 day moving average price of $639.65. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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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