Resona Asset Management Co. Ltd. Sells 2,826 Shares of Spotify Technology $SPOT

Resona Asset Management Co. Ltd. trimmed its stake in shares of Spotify Technology (NYSE:SPOT) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,714 shares of the company’s stock after selling 2,826 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Spotify Technology were worth $28,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Spotify Technology by 1.7% during the 2nd quarter. State Street Corp now owns 4,574,228 shares of the company’s stock valued at $3,509,988,000 after buying an additional 74,256 shares during the period. Fisher Asset Management LLC increased 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 valued at $1,909,920,000 after acquiring an additional 460,115 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after acquiring an additional 49,377 shares during the period. Invesco Ltd. boosted its position in Spotify Technology by 17.3% in the second quarter. Invesco Ltd. now owns 1,454,383 shares of the company’s stock worth $1,116,007,000 after purchasing an additional 214,355 shares during the last quarter. Finally, Edgewood Management LLC grew its stake in shares of Spotify Technology by 14.4% during the 2nd quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock valued at $959,015,000 after purchasing an additional 157,567 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Shares of SPOT stock opened at $512.45 on Friday. Spotify Technology has a one year low of $475.01 and a one year high of $785.00. The company’s fifty day moving average price is $569.50 and its 200-day moving average price is $644.22. The company has a market capitalization of $105.51 billion, a price-to-earnings ratio of 80.57, a PEG ratio of 0.97 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results 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. 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 analyst estimates of $4.23 billion. During the same quarter in the prior year, the business posted $1.45 EPS. Spotify Technology’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

More Spotify Technology News

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

• Positive Sentiment: Goldman Sachs upgraded SPOT to Buy with a $700 price target, calling the recent selloff an attractive entry point ahead of results; that upgrade is a primary driver of the rally. Spotify Stock Rises After Buy Upgrade. Why Goldman Is Singing Its Praises.
• Positive Sentiment: Spotify rolled out an AI-driven “prompted playlist” for U.S. and Canadian Premium users that customizes playlists from natural-language prompts — a product improvement that may boost engagement and retention. Spotify launches AI-driven ‘prompted playlist’ for premium users in US, Canada
• Positive Sentiment: Spotify is also deploying other AI playlist tools and personalization features across markets — incremental product wins that support higher user engagement and upsell potential. Spotify Rolls Out AI-Driven Playlist Generator for U.S. and Canadian Premium Users
• Positive Sentiment: Reports that Spotify may let users sync audiobooks with physical books indicate new product expansion into audiobooks/reading-adjacent features — potential longer-term revenue diversification. Spotify might soon let you sync audiobooks with real books
• Neutral Sentiment: Tech press highlights how Spotify’s new playlist features differ from Apple Music — useful competitive context but not an immediate earnings driver. Spotify’s newest playlist feature is unlike anything on Apple Music
• Negative Sentiment: Analysts and commentators warn U.S. price hikes for Premium could test growth and raise churn risk, which is a near-term headwind for subscriber-led revenue. Spotify (SPOT) Valuation Check As New Premium Price Hikes Test Growth And Churn Concerns
• Negative Sentiment: Barclays issued a pessimistic forecast for SPOT, adding downside pressure and reminding investors valuation and execution risk remain. Barclays Issues Pessimistic Forecast for Spotify Technology (NYSE:SPOT) Stock Price
• Negative Sentiment: Commentators including Jim Cramer have flagged Spotify’s high P/E as a drag on the stock — valuation sensitivity means sentiment shifts can move the shares sharply. Jim Cramer says high price-to-earnings multiples are hurting Spotify stock

Analyst Ratings Changes

SPOT has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. DZ Bank upgraded shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a research note on Monday, December 29th. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Finally, Rosenblatt Securities decreased their target price on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $739.07.

Spotify Technology Company 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.