Spotify Technology $SPOT Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC cut its holdings in shares of Spotify Technology (NYSE:SPOT) by 32.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,544 shares of the company’s stock after selling 737 shares during the period. Driehaus Capital Management LLC’s holdings in Spotify Technology were worth $849,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Hartford Investment Management Co. grew its stake in shares of Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock valued at $797,000 after acquiring an additional 16 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of Spotify Technology by 3.7% during the first quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company’s stock valued at $262,000 after acquiring an additional 17 shares in the last quarter. HM Payson & Co. lifted its position in shares of Spotify Technology by 39.1% during the first quarter. HM Payson & Co. now owns 64 shares of the company’s stock worth $35,000 after purchasing an additional 18 shares during the last quarter. Adero Partners LLC lifted its position in shares of Spotify Technology by 0.7% during the first quarter. Adero Partners LLC now owns 2,635 shares of the company’s stock worth $1,449,000 after purchasing an additional 19 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Down 0.7%

SPOT opened at $683.19 on Monday. The firm has a market cap of $139.85 billion, a price-to-earnings ratio of 165.82, a price-to-earnings-growth ratio of 2.93 and a beta of 1.71. Spotify Technology has a fifty-two week low of $319.07 and a fifty-two week high of $785.00. The company’s 50-day moving average price is $701.49 and its 200 day moving average price is $643.74.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology’s revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Morgan Stanley reduced their price target on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. UBS Group reduced their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Pivotal Research increased their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Tuesday, June 17th. Twenty equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $720.07.

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.