Massachusetts Financial Services Co. MA Sells 205,641 Shares of Spotify Technology $SPOT

Massachusetts Financial Services Co. MA lessened its holdings in shares of Spotify Technology (NYSE:SPOT) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,321,347 shares of the company’s stock after selling 205,641 shares during the quarter. Spotify Technology makes up 0.8% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 21st biggest position. Massachusetts Financial Services Co. MA’s holdings in Spotify Technology were worth $2,548,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp raised its position in shares of Spotify Technology by 5.5% during the first quarter. Sigma Planning Corp now owns 1,017 shares of the company’s stock worth $559,000 after purchasing an additional 53 shares during the period. Apollon Wealth Management LLC acquired a new stake in Spotify Technology during the 1st quarter worth approximately $892,000. Wealthfront Advisers LLC boosted its holdings in shares of Spotify Technology by 4.3% in the first quarter. Wealthfront Advisers LLC now owns 1,173 shares of the company’s stock valued at $645,000 after buying an additional 48 shares during the period. Larson Financial Group LLC increased its position in shares of Spotify Technology by 184.7% during the first quarter. Larson Financial Group LLC now owns 410 shares of the company’s stock worth $226,000 after acquiring an additional 266 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Spotify Technology by 44.0% during the first quarter. Victory Capital Management Inc. now owns 64,258 shares of the company’s stock worth $35,344,000 after acquiring an additional 19,647 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Spotify Technology stock opened at $634.57 on Friday. The company’s 50-day moving average is $679.23 and its 200-day moving average is $683.57. The firm has a market capitalization of $130.65 billion, a PE ratio of 99.78, a P/E/G ratio of 2.13 and a beta of 1.67. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.Spotify Technology’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. 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 note on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft lifted their price objective 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, Guggenheim decreased their target price on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $758.86.

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.