Titleist Asset Management LLC Sells 12,403 Shares of Spotify Technology $SPOT

Key Points

• Titleist Asset Management LLC has reduced its holdings in Spotify Technology by 62.7%, selling 12,403 shares and bringing its total to 7,366 shares valued at approximately $4.05 million.
• Several research firms have raised their price targets for Spotify, with Canaccord Genuity setting a new target of $850, indicating a buy rating, while Barclays and Morgan Stanley lowered their targets to $750 and $800, respectively.
• Despite a net loss of ($0.42) earnings per share in its latest quarterly results, Spotify reported a revenue of $4.94 billion, surpassing analyst expectations, highlighting a year-over-year growth of 10.1%.

Titleist Asset Management LLC cut its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 62.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,366 shares of the company's stock after selling 12,403 shares during the quarter. Titleist Asset Management LLC's holdings in Spotify Technology were worth $4,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology during the 4th quarter valued at about $26,000. Tsfg LLC bought a new stake in Spotify Technology during the 1st quarter valued at approximately $28,000. Copia Wealth Management bought a new stake in Spotify Technology during the 4th quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted its position in Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPOT. Canaccord Genuity Group lifted their price objective on Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Barclays cut their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Morgan Stanley cut their price objective 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. KeyCorp cut their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group lifted their price objective on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Twenty investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Stock Performance

SPOT stock opened at $683.19 on Friday. The firm has a 50 day moving average price of $701.49 and a 200-day moving average price of $643.75. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00. The firm has a market capitalization of $139.85 billion, a price-to-earnings ratio of 165.82, a PEG ratio of 2.96 and a beta of 1.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results 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). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. Spotify Technology'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, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology 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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