BOCHK Asset Management Ltd Decreases Stock Holdings in Spotify Technology $SPOT

BOCHK Asset Management Ltd lessened its stake in shares of Spotify Technology (NYSE:SPOT) by 97.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 635 shares of the company’s stock after selling 22,135 shares during the quarter. Spotify Technology comprises about 0.1% of BOCHK Asset Management Ltd’s investment portfolio, making the stock its 26th biggest holding. BOCHK Asset Management Ltd’s holdings in Spotify Technology were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC lifted its holdings in shares of Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock valued at $2,336,494,000 after buying an additional 1,262,614 shares during the period. Massachusetts Financial Services Co. MA increased its position in Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after acquiring an additional 112,553 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares during the last quarter. Northern Trust Corp lifted its holdings in Spotify Technology by 10.3% in the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock valued at $866,012,000 after acquiring an additional 147,580 shares during the period. Finally, Forsta AP Fonden boosted its position in Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock worth $857,855,000 after purchasing an additional 174,700 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Phillip Securities upgraded shares of Spotify Technology from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 4th. The Goldman Sachs Group downgraded shares of Spotify Technology from a “buy” rating to a “neutral” rating and increased their price target for the stock from $765.00 to $770.00 in a research report on Tuesday. Barclays dropped their price target on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Sanford C. Bernstein upped their price objective on Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, Citigroup lifted their target price on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $702.00 on Thursday. The stock has a fifty day simple moving average of $695.53 and a two-hundred day simple moving average of $662.76. The firm has a market capitalization of $143.71 billion, a PE ratio of 170.39, a PEG ratio of 3.00 and a beta of 1.67. Spotify Technology has a 52-week low of $362.31 and a 52-week high of $785.00.

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 analysts’ consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts forecast that Spotify Technology will post 10.3 EPS 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.