Northwest & Ethical Investments L.P. Sells 2,219 Shares of Spotify Technology $SPOT

Northwest & Ethical Investments L.P. cut its holdings in shares of Spotify Technology (NYSE:SPOT) by 29.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,387 shares of the company’s stock after selling 2,219 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Spotify Technology were worth $4,147,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its holdings in shares of Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the period. GFG Capital LLC bought a new position in Spotify Technology during the 2nd quarter worth $33,000. Avion Wealth acquired a new position in Spotify Technology during the 2nd quarter worth about $38,000. Truvestments Capital LLC acquired a new position in Spotify Technology during the 1st quarter worth about $34,000. Finally, Putney Financial Group LLC grew its position in shares of Spotify Technology by 244.4% in the 2nd quarter. Putney Financial Group LLC now owns 62 shares of the company’s stock valued at $48,000 after buying an additional 44 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Trading Up 1.4%

SPOT opened at $593.92 on Thursday. Spotify Technology has a 1-year low of $443.21 and a 1-year high of $785.00. The company has a market cap of $122.28 billion, a P/E ratio of 93.38, a price-to-earnings-growth ratio of 1.93 and a beta of 1.67. The company has a fifty day moving average price of $663.06 and a two-hundred day moving average price of $682.51.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Morgan Stanley decreased their target price on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Argus started coverage on shares of Spotify Technology in a research report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target on the stock. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, UBS Group dropped their price objective on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research note on Wednesday, July 30th. Two equities research 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 stock. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $758.86.

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.