Vident Advisory LLC Sells 915 Shares of Spotify Technology $SPOT

Key Points

• Vident Advisory LLC reduced its stake in Spotify Technology by 17.1%, retaining 4,439 shares valued at approximately $2.44 million as of the end of the first quarter.
• Several institutional investors actively adjusted their holdings in Spotify, with Evergreen Capital Management increasing by 22.4% and the Canada Pension Plan Investment Board raising its stake by 50.5%.
• Spotify Technology reported a revenue increase of 10.1% year-over-year for the quarter, but missed earnings estimates with a reported loss of ($0.42) EPS compared to expectations of $2.00.

Vident Advisory LLC lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 17.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,439 shares of the company's stock after selling 915 shares during the quarter. Vident Advisory LLC's holdings in Spotify Technology were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. QRG Capital Management Inc. boosted its stake in shares of Spotify Technology by 36.3% during the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock worth $391,000 after acquiring an additional 189 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Spotify Technology by 38.1% during the 1st quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after acquiring an additional 360 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Spotify Technology by 16.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,543 shares of the company's stock valued at $4,699,000 after purchasing an additional 1,179 shares during the period. Fifth Third Bancorp raised its position in shares of Spotify Technology by 30.7% during the 1st quarter. Fifth Third Bancorp now owns 302 shares of the company's stock valued at $166,000 after purchasing an additional 71 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Spotify Technology by 238.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock valued at $13,993,000 after purchasing an additional 17,932 shares during the period. Hedge funds and other institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 1.0%

NYSE SPOT traded up $6.74 on Thursday, reaching $704.07. The company had a trading volume of 1,336,855 shares, compared to its average volume of 2,247,258. The stock has a market capitalization of $144.13 billion, a PE ratio of 170.89, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71. The firm's 50 day moving average price is $698.53 and its 200 day moving average price is $644.75. Spotify Technology has a 12 month low of $319.07 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business's revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Cantor Fitzgerald raised their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Benchmark decreased their price objective on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, UBS Group decreased their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $720.07.

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.