Voya Investment Management LLC Sells 21,616 Shares of Spotify Technology $SPOT

Key Points

• Voya Investment Management LLC has reduced its stake in Spotify Technology by 7.8%, selling 21,616 shares and holding approximately 0.12% of the company worth $140.59 million.
• Spotify's stock rose by 1.0% and has a market capitalization of $142.66 billion, with a recent twelve-month low of $337.15 and a high of $785.00.
• Despite reporting an earnings miss of ($0.42) per share, Spotify's revenue increased by 10.1% compared to the previous year, reaching $4.94 billion for the quarter.

Voya Investment Management LLC decreased its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,725 shares of the company's stock after selling 21,616 shares during the period. Voya Investment Management LLC owned approximately 0.12% of Spotify Technology worth $140,589,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SPOT. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology during the fourth quarter worth $26,000. Tsfg LLC bought a new stake in shares of Spotify Technology during the first quarter worth $28,000. Copia Wealth Management acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $29,000. Cornerstone Planning Group LLC raised its position in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the last quarter. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Up 1.0%

NYSE:SPOT opened at $696.91 on Friday. The firm has a market capitalization of $142.66 billion, a price-to-earnings ratio of 169.15, a price-to-earnings-growth ratio of 2.97 and a beta of 1.71. Spotify Technology has a twelve month low of $337.15 and a twelve month high of $785.00. The stock's 50 day moving average price is $693.51 and its two-hundred day moving average price is $648.87.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SPOT shares. DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price on the stock in a research report on Wednesday, July 30th. Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a research report on Tuesday. Phillip Securities raised Spotify Technology from a "moderate sell" rating to a "hold" rating in a research report on Monday, August 4th. Evercore ISI lifted their target price on Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research report on Monday, June 16th. Finally, Canaccord Genuity Group lifted their target price on Spotify Technology from $775.00 to $850.00 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 given a Hold rating to the company's stock. According to data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and an average target price of $721.07.

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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