Illinois Municipal Retirement Fund Lowers Stock Position in Spotify Technology $SPOT

Illinois Municipal Retirement Fund lessened its position in shares of Spotify Technology (NYSE:SPOT) by 33.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,638 shares of the company’s stock after selling 21,289 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Spotify Technology were worth $32,718,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its stake in shares of Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after purchasing an additional 25 shares during the period. GFG Capital LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Spotify Technology during the 1st quarter valued at approximately $34,000. Avion Wealth purchased a new stake in Spotify Technology in the 2nd quarter worth $38,000. Finally, SouthState Corp acquired a new position in Spotify Technology during the first quarter worth $39,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT opened at $617.16 on Monday. The business’s 50-day simple moving average is $685.11 and its 200-day simple moving average is $683.58. The company has a market cap of $127.07 billion, a P/E ratio of 97.04, a PEG ratio of 2.49 and a beta of 1.67. Spotify Technology has a one year low of $397.33 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SPOT shares. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Argus assumed coverage on shares of Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 price target on the stock. Pivotal Research decreased their target price on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Citigroup upped their price objective on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Finally, Barclays cut their price objective on Spotify Technology from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $729.94.

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.