Cim LLC Boosts Stake in Spotify Technology $SPOT

Cim LLC increased its holdings in shares of Spotify Technology (NYSE:SPOT) by 83.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,425 shares of the company’s stock after purchasing an additional 17,464 shares during the quarter. Spotify Technology accounts for 2.7% of Cim LLC’s portfolio, making the stock its 12th biggest holding. Cim LLC’s holdings in Spotify Technology were worth $18,633,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. State Street Corp raised its position in Spotify Technology by 1.9% in the 4th quarter. State Street Corp now owns 4,712,249 shares of the company’s stock worth $2,736,450,000 after buying an additional 89,951 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Spotify Technology by 4.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company’s stock valued at $2,247,042,000 after acquiring an additional 149,479 shares during the last quarter. Capital World Investors boosted its holdings in shares of Spotify Technology by 4.9% during the 4th quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock valued at $1,663,024,000 after acquiring an additional 133,108 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after acquiring an additional 62,887 shares during the period. Finally, Coatue Management LLC raised its holdings in shares of Spotify Technology by 35.9% during the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock valued at $1,423,251,000 after purchasing an additional 647,708 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a research report on Tuesday, May 26th. KeyCorp lowered their price target on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. The Goldman Sachs Group dropped their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen cut Spotify Technology from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Morgan Stanley raised their target price on Spotify Technology from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $629.73.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $522.68 on Thursday. The company has a market capitalization of $107.61 billion, a P/E ratio of 41.65, a P/E/G ratio of 1.27 and a beta of 1.56. The company has a fifty day moving average of $485.86 and a 200 day moving average of $486.46. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. Analysts forecast that Spotify Technology will post 14.46 EPS for the current year.

Insider Transactions at Spotify Technology

In other news, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $430.72, for a total value of $8,973,189.76. Following the completion of the transaction, the chief executive officer owned 20,492 shares of the company’s stock, valued at $8,826,314.24. This represents a 50.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $480.86, for a total value of $2,613,954.96. Following the sale, the chief executive officer owned 67,582 shares of the company’s stock, valued at $32,497,480.52. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 111,442 shares of company stock valued at $54,757,553. 0.40% of the stock is owned by corporate insiders.

Key Stories Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: KeyCorp maintained an “Overweight” rating and a $680 price target, well above recent trading levels, while projecting substantial earnings growth through fiscal 2028. The firm expects FY2028 EPS of $27.06, compared with a current-year consensus estimate of roughly $14.46. Spotify Stock May Be a Bargain on Cash Flow
• Positive Sentiment: A preview article highlighted expectations for strong user growth and described the shares as attractive after recent weakness. The stock’s longer-term performance remains strong, having gained approximately 239% over three years. Spotify Q2 Preview
• Positive Sentiment: A new Snapchat integration will enable real-time music sharing through Spotify, potentially improving discovery, engagement and user acquisition. Snapchat Introduces Real-Time Music Sharing Through Spotify Integration
• Neutral Sentiment: Valuation signals are mixed: discounted-cash-flow analysis suggests the stock may be undervalued based on future cash generation, while conventional multiples indicate investors are already paying a premium and therefore expect strong execution.
• Negative Sentiment: KeyCorp reduced its EPS forecasts for Q2, Q3 and Q4 2026, lowering its FY2026 estimate to $16.64 from $17.11 and FY2027 to $21.61 from $22.78, although it retained its bullish rating and price target. Spotify Analyst Estimates
• Negative Sentiment: Pre-earnings analysis said Spotify may lack the typical indicators supporting an earnings beat. Earlier lower-than-expected guidance for Q2 and ongoing efforts to police fake streams add execution risks ahead of the report. Spotify Earnings Expected to Grow

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.