Silvant Capital Management LLC Lowers Holdings in Spotify Technology $SPOT

Silvant Capital Management LLC lowered its position in Spotify Technology (NYSE:SPOT) by 14.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,617 shares of the company’s stock after selling 1,333 shares during the quarter. Silvant Capital Management LLC’s holdings in Spotify Technology were worth $5,317,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPOT. Abel Hall LLC lifted its holdings in shares of Spotify Technology by 12.9% in the 3rd quarter. Abel Hall LLC now owns 509 shares of the company’s stock worth $355,000 after buying an additional 58 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Spotify Technology by 5.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 236,020 shares of the company’s stock valued at $164,742,000 after buying an additional 13,233 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Spotify Technology by 4.5% in the third quarter. Kestra Private Wealth Services LLC now owns 5,864 shares of the company’s stock valued at $4,093,000 after acquiring an additional 253 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Spotify Technology by 10.2% in the third quarter. NewEdge Advisors LLC now owns 13,935 shares of the company’s stock worth $9,726,000 after acquiring an additional 1,285 shares during the period. Finally, Sender Co & Partners Inc. purchased a new stake in Spotify Technology in the third quarter worth about $2,411,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT opened at $524.79 on Wednesday. The company’s 50-day simple moving average is $500.02 and its 200-day simple moving average is $592.42. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The stock has a market capitalization of $108.04 billion, a P/E ratio of 54.44, a P/E/G ratio of 1.15 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 EPS for the quarter, topping the consensus estimate of $3.16 by $2.00. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The firm had revenue of $5.32 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the business posted $1.88 EPS. Spotify Technology’s revenue was up 6.8% on a year-over-year basis. On average, research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPOT shares. Sanford C. Bernstein reduced their price target on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating for the company in a report on Wednesday, January 14th. KeyCorp cut their price objective on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating on the stock in a report on Monday, February 9th. Barclays boosted their price objective on shares of Spotify Technology from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Weiss Ratings downgraded shares of Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Finally, The Goldman Sachs Group raised Spotify Technology from a “neutral” rating to a “buy” rating and dropped their target price for the company from $735.00 to $700.00 in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $703.87.

More Spotify Technology News

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

• Positive Sentiment: Report that Spotify may launch XR smart glasses signals potential expansion into hardware/AR experiences and new revenue channels beyond streaming. Spotify Could Soon Launch XR Smart Glasses To Elevate Your Music Listening Experience
• Positive Sentiment: Spotify is testing a “Taste Profile” and rolling out controls that let users shape recommendations — a retention/engagement play that can improve personalization and reduce churn. Spotify Tests ‘Taste Profile’ to Give Users More Control Over Music Recommendations
• Positive Sentiment: UI/UX improvements on Wear OS and potential playlist folders on mobile make the product stickier across devices, supporting user experience and engagement. Spotify on Wear OS just got a big redesign that makes it much easier to use Spotify could be rolling out playlist folders to mobile for the first time
• Neutral Sentiment: Stories about bringing a long-overdue Android feature and explanatory pieces on taste profiles are incremental UX news — helpful but unlikely to move fundamentals immediately. Spotify wants to bring this long-overdue feature to Android Spotify just handed you the keys to your taste profile — here’s how to change it
• Neutral Sentiment: Coverage of how much Nigerian music earns globally could highlight growth opportunity in Africa and licensing dynamics, but it’s indirect for Spotify unless it points to material incremental monetization or subscriber gains. New report reveals how much Nigerian music is really earning globally
• Negative Sentiment: A reported global outage raised short-term user frustration and media attention; repeated reliability problems can weigh on sentiment and retention if they persist. Spotify was down — Live updates on music streamer issues
• Negative Sentiment: A recent Seeking Alpha downgrade highlights intense competition and a perceived weak moat, which can pressure multiples and investor sentiment despite product progress and recent strong quarter. Spotify: Intense Competition And A Weak Moat Have Me Hitting Pause (Rating Upgrade)

Spotify Technology Profile

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.