Bank Julius Baer & Co. Ltd Zurich Sells 3,952 Shares of Spotify Technology $SPOT

Bank Julius Baer & Co. Ltd Zurich cut its stake in Spotify Technology (NYSE:SPOT) by 11.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,831 shares of the company’s stock after selling 3,952 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Spotify Technology were worth $26,033,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SPOT. Joel Isaacson & Co. LLC raised its stake in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after acquiring an additional 15 shares in the last quarter. Ignite Planners LLC grew its holdings in shares of Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock worth $489,000 after purchasing an additional 15 shares during the last quarter. Hartford Investment Management Co. grew its holdings in shares of Spotify Technology by 1.1% in the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after purchasing an additional 16 shares during the last quarter. Stonekeep Investments LLC increased its position in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after purchasing an additional 16 shares in the last quarter. Finally, Moody National Bank Trust Division lifted its holdings in Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SPOT. Wells Fargo & Company upped their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Morgan Stanley reduced their target price on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. BNP Paribas raised Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. The Goldman Sachs Group downgraded Spotify Technology from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $765.00 to $770.00 in a research report on Tuesday, September 30th. Finally, Phillip Securities raised Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $758.86.

Spotify Technology Price Performance

SPOT stock opened at $590.68 on Friday. The company has a 50 day moving average price of $672.31 and a 200 day moving average price of $683.93. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00. The stock has a market capitalization of $121.62 billion, a PE ratio of 92.87, a price-to-earnings-growth ratio of 2.04 and a beta of 1.67.

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

Spotify Technology Company 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.