Spotify Technology $SPOT Shares Sold by City Center Advisors LLC

City Center Advisors LLC reduced its stake in Spotify Technology (NYSE:SPOT) by 33.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 373 shares of the company’s stock after selling 191 shares during the quarter. City Center Advisors LLC’s holdings in Spotify Technology were worth $286,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Hartford Investment Management Co. lifted its holdings in shares of Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after acquiring an additional 16 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Spotify Technology by 3.7% in the 1st quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company’s stock worth $262,000 after acquiring an additional 17 shares during the last quarter. HM Payson & Co. lifted its holdings in Spotify Technology by 39.1% during the 1st quarter. HM Payson & Co. now owns 64 shares of the company’s stock worth $35,000 after buying an additional 18 shares in the last quarter. Adero Partners LLC lifted its holdings in Spotify Technology by 0.7% during the 1st quarter. Adero Partners LLC now owns 2,635 shares of the company’s stock worth $1,449,000 after buying an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 1.0%

Shares of NYSE:SPOT opened at $696.91 on Friday. Spotify Technology has a 52 week low of $337.15 and a 52 week high of $785.00. The company’s 50 day moving average is $693.51 and its two-hundred day moving average is $648.87. The company has a market cap of $142.66 billion, a PE ratio of 169.15, a P/E/G ratio of 2.97 and a beta of 1.71.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the company posted $1.33 earnings per share. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. UBS Group reduced their target price 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. Barclays reduced their target price on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Guggenheim reiterated a “buy” rating and set a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. The Goldman Sachs Group increased their target price on shares of Spotify Technology from $680.00 to $775.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Finally, Citigroup increased their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday. Twenty equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $721.07.

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.