T. Rowe Price Investment Management Inc. Lowers Stock Holdings in Spotify Technology $SPOT

Key Points

• T. Rowe Price Investment Management Inc. has reduced its shareholding in Spotify Technology by 45.9%, now holding 629,614 shares after selling 533,579 during the last quarter.
• Spotify's recent quarterly earnings report showed a loss of ($0.42) EPS, significantly missing analyst estimates, despite a revenue increase of 10.1% year-over-year.
• Analysts continue to adjust their price targets for Spotify, with some raising it to as high as $900.00, reflecting a consensus rating of "Moderate Buy" among investment analysts.

T. Rowe Price Investment Management Inc. lowered its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 45.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 629,614 shares of the company's stock after selling 533,579 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.31% of Spotify Technology worth $346,307,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GDS Wealth Management boosted its position in Spotify Technology by 230.6% during the first quarter. GDS Wealth Management now owns 14,611 shares of the company's stock worth $8,036,000 after purchasing an additional 10,191 shares in the last quarter. Carmignac Gestion purchased a new position in Spotify Technology during the first quarter worth approximately $163,000. Credit Agricole S A boosted its position in Spotify Technology by 70.2% during the first quarter. Credit Agricole S A now owns 27,153 shares of the company's stock worth $14,935,000 after purchasing an additional 11,196 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in Spotify Technology by 9.6% during the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 306,710 shares of the company's stock worth $168,700,000 after purchasing an additional 26,917 shares in the last quarter. Finally, MIG Capital LLC boosted its position in Spotify Technology by 141.9% during the first quarter. MIG Capital LLC now owns 1,788 shares of the company's stock worth $983,000 after purchasing an additional 1,049 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

NYSE:SPOT opened at $703.9750 on Thursday. Spotify Technology has a one year low of $319.07 and a one year high of $785.00. The stock has a market cap of $144.11 billion, a PE ratio of 170.87, a P/E/G ratio of 3.09 and a beta of 1.69. The stock has a 50 day moving average price of $704.31 and a 200 day moving average price of $640.09.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings results 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 analyst estimates of $4.29 billion. During the same period in the prior year, the business posted $1.33 EPS. Spotify Technology'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, analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SPOT shares. Sanford C. Bernstein increased their price target on Spotify Technology from $825.00 to $840.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. 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 report on Monday, June 16th. Loop Capital raised their target price on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Bank of America raised their target price on Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on Spotify Technology from $730.00 to $780.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and a consensus 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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