Lazard Freres Gestion S.A.S. Reduces Stock Position in Spotify Technology $SPOT

Lazard Freres Gestion S.A.S. lowered its holdings in shares of Spotify Technology (NYSE:SPOT) by 10.4% in the second quarter, Holdings Channel.com reports. The fund owned 31,501 shares of the company’s stock after selling 3,649 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in Spotify Technology were worth $24,171,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SPOT. Sapient Capital LLC purchased a new stake in shares of Spotify Technology in the 2nd quarter worth $322,000. Swedbank AB lifted its holdings in shares of Spotify Technology by 1.4% in the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock worth $527,802,000 after buying an additional 13,458 shares during the period. Legacy Capital Group California Inc. lifted its holdings in shares of Spotify Technology by 110.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock worth $2,990,000 after buying an additional 2,049 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Spotify Technology by 36.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock worth $1,576,000 after buying an additional 544 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of Spotify Technology by 56.9% in the 2nd quarter. Annex Advisory Services LLC now owns 53,984 shares of the company’s stock worth $41,424,000 after buying an additional 19,577 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT stock opened at $674.79 on Friday. The firm has a market cap of $138.14 billion, a price-to-earnings ratio of 163.78, a PEG ratio of 3.22 and a beta of 1.67. The firm has a 50-day simple moving average of $698.26 and a two-hundred day simple moving average of $674.80. Spotify Technology has a one year low of $376.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results 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 business had revenue of $4.94 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPOT has been the subject of several research reports. Wells Fargo & Company upped their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Benchmark lowered their target price on Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a report on Wednesday, July 30th. Oppenheimer upped their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Finally, BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

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.