Spotify Technology $SPOT Stock Holdings Lessened by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. decreased its stake in Spotify Technology by 3.5%, now owning 41,941 shares valued at approximately $32.2 million.
• Multiple investors have adjusted their positions, with Sound Income Strategies LLC increasing its stake by 156.3% and new stakes acquired by GFG Capital LLC and others.
• Spotify's recent earnings report showed a loss of ($0.42) EPS, missing estimates despite a revenue of $4.94 billion, which was above expectations.

Cullen Frost Bankers Inc. reduced its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 3.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 41,941 shares of the company's stock after selling 1,510 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Spotify Technology were worth $32,183,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Sound Income Strategies LLC increased its holdings in shares of Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock worth $31,000 after acquiring an additional 25 shares during the period. GFG Capital LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth about $33,000. Cornerstone Planning Group LLC increased its holdings in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after acquiring an additional 41 shares during the period. Tsfg LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth about $28,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth about $34,000. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SPOT shares. Benchmark dropped their price objective 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. Argus began coverage on shares of Spotify Technology in a research note on Monday, September 29th. They set a "buy" rating and a $845.00 target price on the stock. KeyCorp lowered their target price on shares of Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Rosenblatt Securities reissued a "neutral" rating and set a $679.00 target price on shares of Spotify Technology in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. 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's stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $731.16.

Spotify Technology Price Performance

Shares of SPOT opened at $688.54 on Wednesday. The firm's 50 day moving average is $699.13 and its 200-day moving average is $673.70. The stock has a market capitalization of $140.95 billion, a P/E ratio of 167.12, a P/E/G ratio of 3.22 and a beta of 1.67. Spotify Technology has a 12-month low of $376.00 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 during 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 business's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal 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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