Spotify Technology $SPOT Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lessened its position in Spotify Technology (NYSE:SPOT) by 11.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,985 shares of the company’s stock after selling 5,266 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Spotify Technology were worth $32,438,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in Spotify Technology by 1,151.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Spotify Technology by 10.3% during the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock worth $866,012,000 after buying an additional 147,580 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Spotify Technology by 3.3% during the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock worth $1,192,730,000 after buying an additional 49,377 shares in the last quarter. Forsta AP Fonden raised its position in shares of Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after buying an additional 174,700 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Spotify Technology by 3.7% in the first quarter. Invesco Ltd. now owns 1,240,028 shares of the company’s stock worth $682,053,000 after buying an additional 44,340 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. KeyCorp lowered their price target on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Argus began coverage on Spotify Technology in a report on Monday, September 29th. They set a “buy” rating and a $845.00 target price on the stock. Citigroup upped their price target on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Finally, Cantor Fitzgerald upped their target price on Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given 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 an average target price of $758.86.

Spotify Technology Stock Performance

SPOT opened at $590.68 on Friday. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The stock has a market capitalization of $121.62 billion, a PE ratio of 92.87, a P/E/G ratio of 2.04 and a beta of 1.67. The business’s 50 day moving average price is $672.31 and its 200 day moving average price is $683.93.

Spotify Technology (NYSE:SPOT) last posted its earnings results 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. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.