Caitong International Asset Management Co. Ltd Decreases Stock Holdings in Spotify Technology $SPOT

Caitong International Asset Management Co. Ltd trimmed its position in Spotify Technology (NYSE:SPOT) by 55.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037 shares of the company’s stock after selling 1,272 shares during the quarter. Spotify Technology accounts for approximately 0.6% of Caitong International Asset Management Co. Ltd’s holdings, making the stock its 28th biggest holding. Caitong International Asset Management Co. Ltd’s holdings in Spotify Technology were worth $796,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. AlTi Global Inc. increased its stake in shares of Spotify Technology by 13.2% in the second quarter. AlTi Global Inc. now owns 2,033 shares of the company’s stock worth $1,560,000 after buying an additional 237 shares during the period. Carnegie Investment Counsel increased its stake in shares of Spotify Technology by 5.6% in the second quarter. Carnegie Investment Counsel now owns 792 shares of the company’s stock worth $608,000 after buying an additional 42 shares during the period. Avion Wealth purchased a new position in shares of Spotify Technology in the second quarter worth $38,000. First Citizens Bank & Trust Co. increased its stake in shares of Spotify Technology by 7.8% in the second quarter. First Citizens Bank & Trust Co. now owns 1,077 shares of the company’s stock worth $826,000 after buying an additional 78 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Spotify Technology by 3.6% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 19,080 shares of the company’s stock worth $14,641,000 after buying an additional 671 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research note on Monday, August 18th. Phillip Securities raised shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a research report on Monday, August 4th. KeyCorp reduced their price objective 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. Canaccord Genuity Group boosted their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. Finally, Barclays reduced their price objective on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Trading Down 0.1%

Shares of SPOT stock opened at $674.79 on Friday. Spotify Technology has a 12 month low of $376.00 and a 12 month high of $785.00. The stock has a market cap of $138.14 billion, a PE ratio of 163.78, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67. The company’s fifty day moving average price is $698.26 and its 200-day moving average price is $674.80.

Spotify Technology (NYSE:SPOT) last announced its 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 for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm posted $1.33 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.