Forsta AP Fonden Decreases Stock Holdings in Spotify Technology $SPOT

Forsta AP Fonden decreased its holdings in shares of Spotify Technology (NYSE:SPOT) by 1.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,537,352 shares of the company’s stock after selling 22,300 shares during the period. Spotify Technology makes up approximately 7.7% of Forsta AP Fonden’s investment portfolio, making the stock its biggest position. Forsta AP Fonden’s holdings in Spotify Technology were worth $1,179,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SPOT. Sapient Capital LLC purchased a new position in shares of Spotify Technology during the second quarter worth about $322,000. Swedbank AB lifted its position in Spotify Technology by 1.4% during the first quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after purchasing an additional 13,458 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in 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 in the last quarter. Harbor Investment Advisory LLC increased 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 last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Spotify Technology in the 2nd quarter worth $18,877,000. 84.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SPOT shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Argus began coverage on Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 price objective on the stock. BNP Paribas Exane began coverage on Spotify Technology in a report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price objective on the stock. Barclays cut their target price on Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $729.94.

Spotify Technology Trading Up 2.7%

Shares of NYSE:SPOT opened at $640.05 on Wednesday. The company has a 50-day moving average price of $682.87 and a 200-day moving average price of $683.83. The company has a market cap of $131.78 billion, a price-to-earnings ratio of 100.64, a price-to-earnings-growth ratio of 2.06 and a beta of 1.67. Spotify Technology has a 12 month low of $411.40 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the business earned $1.45 EPS. Spotify Technology’s 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, research analysts forecast that Spotify Technology will post 10.3 EPS 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.