Silvant Capital Management LLC Reduces Stock Holdings in Spotify Technology $SPOT

Silvant Capital Management LLC reduced its holdings in shares of Spotify Technology (NYSE:SPOT) by 14.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,617 shares of the company’s stock after selling 1,333 shares during the period. Silvant Capital Management LLC’s holdings in Spotify Technology were worth $5,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Sivia Capital Partners LLC purchased a new stake in shares of Spotify Technology during the second quarter worth about $312,000. Foundations Investment Advisors LLC boosted its stake in Spotify Technology by 59.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 686 shares of the company’s stock worth $526,000 after purchasing an additional 256 shares in the last quarter. Cetera Investment Advisers boosted its stake in Spotify Technology by 11.5% in the 2nd quarter. Cetera Investment Advisers now owns 26,209 shares of the company’s stock worth $20,111,000 after purchasing an additional 2,696 shares in the last quarter. Intech Investment Management LLC grew its position in Spotify Technology by 44.5% during the 2nd quarter. Intech Investment Management LLC now owns 1,845 shares of the company’s stock worth $1,416,000 after purchasing an additional 568 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Spotify Technology by 9.9% during the 2nd quarter. Avantax Advisory Services Inc. now owns 9,636 shares of the company’s stock worth $7,394,000 after purchasing an additional 867 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT opened at $524.79 on Wednesday. The business’s 50-day moving average is $500.02 and its two-hundred day moving average is $592.42. The company has a market capitalization of $108.04 billion, a P/E ratio of 54.44, a P/E/G ratio of 1.15 and a beta of 1.66. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. Analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Key Headlines Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Report that Spotify may launch XR smart glasses signals potential expansion into hardware/AR experiences and new revenue channels beyond streaming. Spotify Could Soon Launch XR Smart Glasses To Elevate Your Music Listening Experience
• Positive Sentiment: Spotify is testing a “Taste Profile” and rolling out controls that let users shape recommendations — a retention/engagement play that can improve personalization and reduce churn. Spotify Tests ‘Taste Profile’ to Give Users More Control Over Music Recommendations
• Positive Sentiment: UI/UX improvements on Wear OS and potential playlist folders on mobile make the product stickier across devices, supporting user experience and engagement. Spotify on Wear OS just got a big redesign that makes it much easier to use Spotify could be rolling out playlist folders to mobile for the first time
• Neutral Sentiment: Stories about bringing a long-overdue Android feature and explanatory pieces on taste profiles are incremental UX news — helpful but unlikely to move fundamentals immediately. Spotify wants to bring this long-overdue feature to Android Spotify just handed you the keys to your taste profile — here’s how to change it
• Neutral Sentiment: Coverage of how much Nigerian music earns globally could highlight growth opportunity in Africa and licensing dynamics, but it’s indirect for Spotify unless it points to material incremental monetization or subscriber gains. New report reveals how much Nigerian music is really earning globally
• Negative Sentiment: A reported global outage raised short-term user frustration and media attention; repeated reliability problems can weigh on sentiment and retention if they persist. Spotify was down — Live updates on music streamer issues
• Negative Sentiment: A recent Seeking Alpha downgrade highlights intense competition and a perceived weak moat, which can pressure multiples and investor sentiment despite product progress and recent strong quarter. Spotify: Intense Competition And A Weak Moat Have Me Hitting Pause (Rating Upgrade)

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SPOT shares. Guggenheim decreased their price target on shares of Spotify Technology from $720.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Erste Group Bank lowered shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Moffett Nathanson began coverage on Spotify Technology in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 target price on the stock. Benchmark lowered their price target on Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Finally, The Goldman Sachs Group upgraded Spotify Technology from a “neutral” rating to a “buy” rating and dropped their price target for the company from $735.00 to $700.00 in a research note on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $703.87.

Spotify Technology Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.