Illinois Municipal Retirement Fund Lowers Stock Holdings in Spotify Technology $SPOT

Illinois Municipal Retirement Fund decreased its holdings in Spotify Technology (NYSE:SPOT) by 33.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,638 shares of the company’s stock after selling 21,289 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Spotify Technology were worth $32,718,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Joel Isaacson & Co. LLC boosted its holdings in shares of Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after purchasing an additional 15 shares during the last quarter. Ignite Planners LLC boosted its holdings in 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 acquiring an additional 15 shares during the last quarter. Hartford Investment Management Co. boosted its holdings in 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 acquiring an additional 16 shares during the last quarter. Stonekeep Investments LLC grew its position in Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after acquiring an additional 16 shares during the period. Finally, Moody National Bank Trust Division increased its stake in Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after acquiring an additional 16 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Trading Down 0.2%

Shares of SPOT opened at $617.16 on Monday. Spotify Technology has a 52 week low of $397.33 and a 52 week high of $785.00. The firm has a market cap of $127.07 billion, a price-to-earnings ratio of 97.04, a PEG ratio of 2.49 and a beta of 1.67. The stock has a 50 day moving average of $685.11 and a 200-day moving average of $683.58.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.02 billion for 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%.The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SPOT. Guggenheim dropped 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. Deutsche Bank Aktiengesellschaft lifted their target price 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. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. UBS Group reduced their price objective on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Finally, Citigroup upped their target price on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $729.94.

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.