Titleist Asset Management LLC Decreases Position in Spotify Technology $SPOT

Titleist Asset Management LLC lessened its stake in Spotify Technology (NYSE:SPOT) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,167 shares of the company’s stock after selling 199 shares during the quarter. Titleist Asset Management LLC’s holdings in Spotify Technology were worth $5,500,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SPOT. Goldman Sachs Group Inc. raised its stake in shares of Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after buying an additional 1,601,653 shares during the period. Nuveen LLC purchased a new stake in Spotify Technology in the 1st quarter worth about $383,139,000. Axiom Investors LLC DE lifted its holdings in Spotify Technology by 216.8% during the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock valued at $395,847,000 after purchasing an additional 492,504 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Spotify Technology by 215.3% during the second quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock valued at $387,758,000 after purchasing an additional 345,048 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Spotify Technology by 39.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock worth $648,434,000 after purchasing an additional 336,162 shares during the period. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

SPOT opened at $583.47 on Friday. The firm has a market capitalization of $120.13 billion, a P/E ratio of 91.74, a price-to-earnings-growth ratio of 1.93 and a beta of 1.67. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The company has a fifty day moving average price of $670.04 and a 200-day moving average price of $683.89.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.23 billion. During the same quarter last year, the company earned $1.45 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. On average, analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on SPOT. Cantor Fitzgerald boosted their price target on shares of Spotify Technology from $640.00 to $675.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Argus initiated coverage on shares of Spotify Technology in a research note on Monday, September 29th. They issued a “buy” rating and a $845.00 price objective for the company. BNP Paribas upgraded Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company raised their price target on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $758.86.

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.