Blue Trust Inc. Sells 117 Shares of Spotify Technology $SPOT

Blue Trust Inc. reduced its position in shares of Spotify Technology (NYSE:SPOT) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 964 shares of the company’s stock after selling 117 shares during the quarter. Blue Trust Inc.’s holdings in Spotify Technology were worth $740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC raised its position in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after acquiring an additional 15 shares in the last quarter. Ignite Planners LLC raised its position in shares of Spotify Technology by 2.4% in the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after purchasing an additional 15 shares during the period. Hartford Investment Management Co. raised its position in shares of Spotify Technology by 1.1% in the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after purchasing an additional 16 shares during the period. Stonekeep Investments LLC raised its position in shares of Spotify Technology by 2.1% in the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after purchasing an additional 16 shares during the period. Finally, Moody National Bank Trust Division raised its position in shares of Spotify Technology by 0.5% in the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares during the period. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several research analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $679.00 price objective on shares of Spotify Technology in a research report on Wednesday, October 1st. Cantor Fitzgerald increased their price objective on shares of Spotify Technology from $610.00 to $640.00 and gave the company a “neutral” rating in a research report on Wednesday, June 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Spotify Technology in a research report on Wednesday. The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and increased their price objective for the company from $765.00 to $770.00 in a research report on Tuesday, September 30th. Finally, Citigroup raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Up 1.8%

Shares of Spotify Technology stock opened at $685.66 on Friday. The company has a market capitalization of $140.36 billion, a price-to-earnings ratio of 166.42, a PEG ratio of 3.24 and a beta of 1.67. Spotify Technology has a 12-month low of $364.26 and a 12-month high of $785.00. The firm’s 50-day moving average price is $699.20 and its two-hundred day moving average price is $667.63.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The firm 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 company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Spotify Technology will post 10.3 earnings per share 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.