Gables Capital Management Inc. Decreases Stock Position in Spotify Technology $SPOT

Gables Capital Management Inc. cut its position in Spotify Technology (NYSE:SPOT) by 76.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 205 shares of the company’s stock after selling 650 shares during the quarter. Gables Capital Management Inc.’s holdings in Spotify Technology were worth $157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Spotify Technology by 43.8% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,336 shares of the company’s stock valued at $1,792,000 after purchasing an additional 711 shares during the period. Whittier Trust Co. boosted its stake in shares of Spotify Technology by 19.4% in the second quarter. Whittier Trust Co. now owns 4,205 shares of the company’s stock valued at $3,227,000 after purchasing an additional 682 shares during the period. Klingman & Associates LLC purchased a new position in shares of Spotify Technology in the second quarter valued at $438,000. Phoenix Financial Ltd. purchased a new position in shares of Spotify Technology in the second quarter valued at $1,905,000. Finally, Avidian Wealth Enterprises LLC purchased a new position in shares of Spotify Technology in the second quarter valued at $248,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPOT shares. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price for the company in a research note on Wednesday, July 30th. Bank of America upped their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, June 26th. UBS Group cut their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Spotify Technology from $700.00 to $775.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, KeyCorp cut their price target on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology Price Performance

SPOT opened at $688.54 on Wednesday. The stock has a market capitalization of $140.95 billion, a PE ratio of 167.12, a P/E/G ratio of 3.22 and a beta of 1.67. Spotify Technology has a 12-month low of $376.00 and a 12-month high of $785.00. The firm’s fifty day moving average price is $699.13 and its 200 day moving average price is $673.70.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The business 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 firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the company posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

About Spotify Technology

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.