Jump Financial LLC reduced its holdings in Spotify Technology (NYSE:SPOT – Free Report) by 95.0% during the first quarter, Holdings Channel.com reports. The fund owned 1,076 shares of the company’s stock after selling 20,644 shares during the quarter. Jump Financial LLC’s holdings in Spotify Technology were worth $592,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. QRG Capital Management Inc. increased its stake in Spotify Technology by 36.3% in 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 raised its position in Spotify Technology by 38.1% during the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company’s stock valued at $718,000 after purchasing an additional 360 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Spotify Technology by 16.0% during the first 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 in the last quarter. Fifth Third Bancorp raised its position in Spotify Technology by 30.7% during the first quarter. Fifth Third Bancorp now owns 302 shares of the company’s stock valued at $166,000 after purchasing an additional 71 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Spotify Technology by 238.8% during the first 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 in the last quarter. 84.09% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on SPOT. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target on the stock in a research report on Wednesday, July 30th. Guggenheim raised their price target on Spotify Technology from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Monday, August 18th. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. Rosenblatt Securities lowered their price target on Spotify Technology from $703.00 to $679.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 30th. Finally, Bank of America raised their price target on Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Twenty analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $720.07.
Get Our Latest Analysis on SPOT
Spotify Technology Trading Down 0.7%
SPOT opened at $683.19 on Monday. The company has a market cap of $139.85 billion, a P/E ratio of 165.82, a P/E/G ratio of 2.93 and a beta of 1.71. The business’s 50-day moving average price is $701.49 and its 200-day moving average price is $643.74. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
About Spotify Technology
(Free Report)
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.
See Also
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