Spotify Technology $SPOT Shares Sold by Scientech Research LLC

Key Points

• Scientech Research LLC reduced its holdings in Spotify Technology (NYSE:SPOT) by 26.2% during Q1, now owning 5,179 shares valued at approximately $2.85 million.
• Spotify reported a loss of ($0.42) EPS for the last quarter, significantly missing analysts' expectations, despite increasing its revenue by 10.1% year-over-year to $4.94 billion.
• Investment analysts have mixed reviews on Spotify's stock, with an average price target of $720.07 and a rating of "Moderate Buy".

Scientech Research LLC cut its position in Spotify Technology (NYSE:SPOT - Free Report) by 26.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,179 shares of the company's stock after selling 1,842 shares during the quarter. Spotify Technology accounts for about 0.8% of Scientech Research LLC's portfolio, making the stock its 3rd largest holding. Scientech Research LLC's holdings in Spotify Technology were worth $2,849,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jennison Associates LLC grew its holdings in shares of Spotify Technology by 42.3% during 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Spotify Technology by 3.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company's stock valued at $1,939,949,000 after purchasing an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Spotify Technology by 10.3% during the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company's stock valued at $866,012,000 after purchasing an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Spotify Technology by 12.6% during the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company's stock valued at $857,855,000 after purchasing an additional 174,700 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

SPOT opened at $707.72 on Friday. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The firm has a market capitalization of $144.88 billion, a price-to-earnings ratio of 171.78, a PEG ratio of 3.04 and a beta of 1.71. The company's 50 day moving average price is $695.80 and its two-hundred day moving average price is $645.76.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company posted $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. As a group, equities research analysts predict that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a report on Friday, July 11th. DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target on the stock in a report on Wednesday, July 30th. Benchmark decreased their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $720.07.

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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