TD Asset Management Inc Decreases Position in Spotify Technology $SPOT

Key Points

• TD Asset Management Inc reduced its stake in Spotify Technology by 1.1% in Q2, now holding 263,213 shares worth approximately $201.97 million.
• Spotify reported a loss of ($0.42) earnings per share for Q2, significantly missing the estimate of $2.00, despite experiencing revenue growth of 10.1% year-over-year.
• Analysts generally maintain a positive outlook on Spotify, with a consensus rating of "Moderate Buy" and average price targets ranging from $731.16 to $900.00.

TD Asset Management Inc trimmed its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,213 shares of the company's stock after selling 3,008 shares during the quarter. TD Asset Management Inc owned about 0.13% of Spotify Technology worth $201,974,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Joel Isaacson & Co. LLC lifted its stake in Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company's stock worth $1,190,000 after purchasing an additional 15 shares in the last quarter. Ignite Planners LLC lifted its stake in Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company's stock worth $489,000 after purchasing an additional 15 shares in the last quarter. Hartford Investment Management Co. lifted its stake in Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after purchasing an additional 16 shares in the last quarter. Stonekeep Investments LLC lifted its stake in Spotify Technology by 2.1% in the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its stake in Spotify Technology by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after purchasing an additional 16 shares in the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Spotify Technology stock opened at $691.38 on Tuesday. Spotify Technology has a fifty-two week low of $364.26 and a fifty-two week high of $785.00. The firm has a 50 day moving average price of $699.82 and a 200 day moving average price of $669.16. The company has a market capitalization of $141.53 billion, a PE ratio of 167.81, a price-to-earnings-growth ratio of 3.23 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 quarter last year, the business posted $1.33 EPS. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on SPOT shares. Argus started coverage on shares of Spotify Technology in a research note on Monday, September 29th. They issued a "buy" rating and a $845.00 target price on the stock. Barclays reduced their price target on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. Bank of America lifted their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Guggenheim reaffirmed a "buy" rating and set a $850.00 price target on shares of Spotify Technology in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

Spotify Technology Company 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.

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