WT Asset Management Ltd Sells 13,698 Shares of Spotify Technology $SPOT

Key Points

• WT Asset Management Ltd reduced its holdings in Spotify Technology by 28.2%, selling 13,698 shares during the second quarter and now owning a total of 34,802 shares, valued at approximately $26.7 million.
• Spotify's most recent earnings report disclosed a loss of ($0.42) EPS for the quarter, significantly below the expected $2.00 EPS, despite revenues of $4.94 billion exceeding estimates.
• Analysts have set varying price targets for Spotify, with Guggenheim giving a "buy" rating and a target of $850, while the average consensus target price is currently $731.16.

WT Asset Management Ltd trimmed its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 28.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 34,802 shares of the company's stock after selling 13,698 shares during the period. Spotify Technology makes up about 1.9% of WT Asset Management Ltd's investment portfolio, making the stock its 16th biggest position. WT Asset Management Ltd's holdings in Spotify Technology were worth $26,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hartford Investment Management Co. increased its position in shares of Spotify Technology by 1.1% during the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company's stock worth $797,000 after purchasing an additional 16 shares in the last quarter. Stonekeep Investments LLC increased its position in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares in the last quarter. Moody National Bank Trust Division increased its position in shares of Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after purchasing an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Spotify Technology by 3.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company's stock worth $262,000 after purchasing an additional 17 shares in the last quarter. Finally, HM Payson & Co. increased its position in shares of Spotify Technology by 39.1% during the 1st quarter. HM Payson & Co. now owns 64 shares of the company's stock worth $35,000 after purchasing an additional 18 shares in the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Down 3.7%

SPOT opened at $681.46 on Friday. The stock has a market capitalization of $139.50 billion, a PE ratio of 165.40, a PEG ratio of 3.35 and a beta of 1.67. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00. The firm has a 50-day moving average price of $695.85 and a two-hundred day moving average price of $664.29.

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 business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, research analysts predict that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the subject of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research report on Wednesday, September 3rd. Rosenblatt Securities reiterated a "neutral" rating and set a $679.00 target price on shares of Spotify Technology in a research report on Wednesday. Citigroup increased their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 9th. Cantor Fitzgerald increased their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 18th. Finally, Bank of America raised their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Spotify Technology presently has an average rating of "Moderate Buy" and a consensus target price of $731.16.

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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