WBI Investments LLC Decreases Holdings in Spotify Technology $SPOT

Key Points

• WBI Investments LLC has reduced its stake in Spotify Technology by 15.7%, selling 547 shares and now holding 2,937 shares valued at approximately $1.6 million.
• During the first quarter, several institutional investors increased their stakes in Spotify, with Cornerstone Planning Group LLC boosting its position by 512.5%.
• Spotify Technology reported a loss of $0.42 EPS for the last quarter, significantly missing analyst expectations, despite having revenues of $4.94 billion, which exceeded estimates.

WBI Investments LLC trimmed its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,937 shares of the company's stock after selling 547 shares during the period. WBI Investments LLC's holdings in Spotify Technology were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. 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 worth $29,000 after purchasing an additional 41 shares during the period. Tsfg LLC purchased a new stake in Spotify Technology during the 1st quarter worth $28,000. 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 worth $30,000 after purchasing an additional 19 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology during the 4th quarter worth $26,000. Finally, Truvestments Capital LLC purchased a new stake in Spotify Technology during the 1st quarter worth $34,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $704.43 on Thursday. Spotify Technology has a one year low of $326.00 and a one year high of $785.00. The company's 50-day simple moving average is $694.71 and its 200-day simple moving average is $647.51. The stock has a market capitalization of $144.20 billion, a price-to-earnings ratio of 170.98, a PEG ratio of 3.09 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the business posted $1.33 EPS. The business'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, research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Benchmark decreased their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Morgan Stanley decreased their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Barclays decreased their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, DZ Bank raised shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a research report on Wednesday, July 30th. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $721.07.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.