Sumitomo Mitsui Trust Group Inc. Reduces Position in Spotify Technology $SPOT

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Spotify Technology (NYSE:SPOT) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,520 shares of the company’s stock after selling 54,483 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Spotify Technology worth $398,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of SPOT. Norges Bank acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $768,915,000. Fisher Asset Management LLC lifted its position in Spotify Technology by 22.7% during the second quarter. Fisher Asset Management LLC now owns 2,489,013 shares of the company’s stock worth $1,909,920,000 after buying an additional 460,115 shares in the last quarter. Bessemer Group Inc. boosted its stake in Spotify Technology by 215.3% during the second quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock worth $387,758,000 after buying an additional 345,048 shares during the last quarter. Franklin Resources Inc. grew its holdings in Spotify Technology by 41.8% in the 2nd quarter. Franklin Resources Inc. now owns 1,131,099 shares of the company’s stock valued at $867,937,000 after buying an additional 333,537 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Spotify Technology by 931.2% in the 2nd quarter. Brown Advisory Inc. now owns 362,853 shares of the company’s stock worth $278,456,000 after acquiring an additional 327,667 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

More Spotify Technology News

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

• Positive Sentiment: Spotify launched social features — “Listening Activity” and “Request to Jam” — designed to boost real-time sharing and collaboration, which could increase user engagement and retention. Spotify Adds ‘Listening Activity’ and ‘Request to Jam’ features: Here’s how they work
• Positive Sentiment: Spotify lowered criteria for video podcast monetization, broadening creator eligibility — this can expand creator supply and ad/subscription monetization opportunities. Spotify lowers criteria for video podcast monetisation. Check eligibility
• Neutral Sentiment: UBS trimmed its price target from $850 to $800 but kept a Buy rating — still implies significant upside, softening the negative impact of the cut. Benzinga
• Neutral Sentiment: Guggenheim reduced its target to $750 (from $800) while maintaining a Buy — another moderation of expectations rather than a downgrade. Benzinga
• Neutral Sentiment: Analyst-coverage summaries show mixed views across firms; useful to watch consensus revisions for guidance on future price moves. Where Spotify Technology Stands With Analysts
• Negative Sentiment: Cantor Fitzgerald cut its price target from $675 to $615 and moved to a Neutral rating — a clear downgrade signal that likely contributed to downward pressure on the stock. Benzinga

Spotify Technology Stock Performance

Spotify Technology stock opened at $539.15 on Monday. The company has a market capitalization of $111.01 billion, a PE ratio of 84.77, a price-to-earnings-growth ratio of 0.97 and a beta of 1.66. Spotify Technology has a fifty-two week low of $451.43 and a fifty-two week high of $785.00. The firm has a 50 day moving average price of $593.15 and a 200 day moving average price of $659.44.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the firm posted $1.45 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analysts Set New Price Targets

SPOT has been the topic of several analyst reports. Cantor Fitzgerald reduced their price target on Spotify Technology from $675.00 to $615.00 and set a “neutral” rating on the stock in a report on Thursday. Pivotal Research reduced their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and increased their price target for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Rosenblatt Securities cut their price target on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Finally, Citizens Jmp began coverage on Spotify Technology in a report on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $754.90.

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.