US Bancorp DE Lowers Stock Holdings in Spotify Technology $SPOT

Key Points

• US Bancorp DE reduced its holdings in Spotify Technology by 11.6% in Q2, owning 49,648 shares after selling 6,520 shares.
• Despite missing the consensus EPS estimate of $2.00 by ($2.42), Spotify's revenue for the quarter was $4.94 billion, exceeding expectations.
• Wall Street analysts show a generally positive outlook with many raising their price targets, with Wells Fargo increasing theirs from $740.00 to $750.00 and maintaining an "overweight" rating.

US Bancorp DE lowered its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,648 shares of the company's stock after selling 6,520 shares during the quarter. US Bancorp DE's holdings in Spotify Technology were worth $38,097,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tsfg LLC acquired a new position in shares of Spotify Technology during the first quarter valued at approximately $28,000. Cornerstone Planning Group LLC raised its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. North Star Investment Management Corp. raised its holdings in shares of Spotify Technology by 52.8% during the first 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 during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock valued at $31,000 after acquiring an additional 25 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 1.8%

SPOT stock opened at $685.66 on Friday. The business has a fifty day moving average of $699.20 and a two-hundred day moving average of $667.01. The stock has a market cap of $140.36 billion, a price-to-earnings ratio of 166.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.67. Spotify Technology has a 52-week low of $364.26 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted 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). The business had revenue of $4.94 billion for 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%.Spotify Technology's revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Pivotal Research increased their target price on Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, June 17th. Sanford C. Bernstein increased their price target on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Bank of America lifted their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Spotify Technology in a research report on Wednesday. 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 has a consensus rating of "Moderate Buy" and an average 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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