AMF Tjanstepension AB Sells 101,106 Shares of Spotify Technology $SPOT

AMF Tjanstepension AB lessened its position in Spotify Technology (NYSE:SPOT) by 9.2% during the second quarter, Holdings Channel reports. The fund owned 998,894 shares of the company’s stock after selling 101,106 shares during the quarter. Spotify Technology comprises approximately 5.1% of AMF Tjanstepension AB’s investment portfolio, making the stock its 3rd largest position. AMF Tjanstepension AB’s holdings in Spotify Technology were worth $766,491,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sapient Capital LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter worth about $322,000. Swedbank AB increased its stake in Spotify Technology by 1.4% during the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock valued at $527,802,000 after buying an additional 13,458 shares during the period. Legacy Capital Group California Inc. increased its stake in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock valued at $2,990,000 after buying an additional 2,049 shares during the period. Harbor Investment Advisory LLC increased its stake in Spotify Technology by 36.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock valued at $1,576,000 after buying an additional 544 shares during the period. Finally, Integrated Wealth Concepts LLC increased its stake in Spotify Technology by 39.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock valued at $1,486,000 after buying an additional 769 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Trading Down 3.7%

NYSE:SPOT opened at $681.46 on Friday. Spotify Technology has a twelve month low of $362.31 and a twelve month high of $785.00. The company has a 50-day moving average of $695.85 and a 200-day moving average of $664.29. The firm has a market cap of $139.50 billion, a price-to-earnings ratio of 165.40, a price-to-earnings-growth ratio of 3.35 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SPOT. Citigroup raised their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, September 9th. Canaccord Genuity Group raised their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, July 2nd. Rosenblatt Securities reissued a “neutral” rating and set a $679.00 target price on shares of Spotify Technology in a research note on Wednesday. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and raised their price objective for the company from $765.00 to $770.00 in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology 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.