Caitong International Asset Management Co. Ltd Sells 1,272 Shares of Spotify Technology $SPOT

Caitong International Asset Management Co. Ltd decreased its position in Spotify Technology (NYSE:SPOT) by 55.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037 shares of the company’s stock after selling 1,272 shares during the period. Spotify Technology makes up approximately 0.6% of Caitong International Asset Management Co. Ltd’s holdings, making the stock its 28th biggest position. Caitong International Asset Management Co. Ltd’s holdings in Spotify Technology were worth $796,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after buying an additional 1,601,653 shares during the last quarter. Jennison Associates LLC raised its position in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock worth $2,336,494,000 after buying an additional 1,262,614 shares during the last quarter. Nuveen LLC purchased a new position in Spotify Technology in the 1st quarter worth about $383,139,000. Axiom Investors LLC DE raised its position in Spotify Technology by 216.8% in the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock worth $395,847,000 after buying an additional 492,504 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Spotify Technology by 39.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock worth $648,434,000 after buying an additional 336,162 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SPOT shares. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price for the company in a research report on Wednesday, July 30th. Canaccord Genuity Group boosted their target price on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Barclays decreased their target price on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. KeyCorp decreased their target price on Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Benchmark decreased their target price on Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Stock Down 0.1%

NYSE SPOT opened at $674.79 on Friday. Spotify Technology has a 52 week low of $376.00 and a 52 week high of $785.00. The firm has a market capitalization of $138.14 billion, a P/E ratio of 163.78, a PEG ratio of 3.22 and a beta of 1.67. The company has a 50-day moving average price of $698.26 and a 200-day moving average price of $674.80.

Spotify Technology (NYSE:SPOT) last released 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 net margin of 4.76% and a return on equity of 13.67%. The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the company earned $1.33 EPS. Spotify Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

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.