Northwest & Ethical Investments L.P. Has $4.15 Million Stock Holdings in Spotify Technology $SPOT

Northwest & Ethical Investments L.P. trimmed its holdings in Spotify Technology (NYSE:SPOT) by 29.2% during the second quarter, Holdings Channel reports. The institutional investor owned 5,387 shares of the company’s stock after selling 2,219 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Spotify Technology were worth $4,147,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sapient Capital LLC bought a new stake in Spotify Technology during the second quarter worth $322,000. Swedbank AB lifted its stake in Spotify Technology by 1.4% during the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after acquiring an additional 13,458 shares in the last quarter. Legacy Capital Group California Inc. boosted its holdings in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock worth $2,990,000 after acquiring an additional 2,049 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Spotify Technology by 39.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after acquiring an additional 769 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Spotify Technology in the 2nd quarter worth $18,877,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.4%

Spotify Technology stock opened at $593.92 on Thursday. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The firm has a 50 day moving average price of $663.06 and a 200-day moving average price of $682.51. The company has a market capitalization of $122.28 billion, a P/E ratio of 93.38, a P/E/G ratio of 1.93 and a beta of 1.67.

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. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. Spotify Technology’s revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. Equities analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPOT. Citigroup raised their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research report on Monday, November 10th. Guggenheim decreased their price objective on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. UBS Group cut their target price 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, Rosenblatt Securities reduced their target price on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $758.86.

Spotify Technology Company 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.