Cibc World Market Inc. Lowers Position in Spotify Technology $SPOT

Cibc World Market Inc. decreased its position in shares of Spotify Technology (NYSE:SPOT) by 48.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,835 shares of the company’s stock after selling 3,659 shares during the quarter. Cibc World Market Inc.’s holdings in Spotify Technology were worth $2,677,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SPOT. Sage Mountain Advisors LLC grew its position in Spotify Technology by 6.3% during the third quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after buying an additional 17 shares during the period. Cloud Capital Management LLC grew its position in shares of Spotify Technology by 4.8% during the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock valued at $301,000 after acquiring an additional 18 shares during the period. Fullerton Fund Management Co Ltd. increased its stake in shares of Spotify Technology by 7.0% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after purchasing an additional 18 shares in the last quarter. Huntington National Bank increased its stake in shares of Spotify Technology by 3.9% in the 2nd quarter. Huntington National Bank now owns 506 shares of the company’s stock valued at $388,000 after purchasing an additional 19 shares in the last quarter. Finally, Granite Group Advisors LLC raised its holdings in Spotify Technology by 2.6% in the 3rd quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock worth $528,000 after purchasing an additional 19 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $458.40 on Monday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The stock’s fifty day moving average is $533.70 and its two-hundred day moving average is $620.50. The firm has a market capitalization of $94.35 billion, a P/E ratio of 47.55, a PEG ratio of 1.08 and a beta of 1.66.

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

Spotify Technology News Roundup

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

• Positive Sentiment: Company delivered strong results and an upbeat outlook that eased earlier margin and user-growth worries; market reaction is lifting sentiment. Spotify Shares Rally on Strong Outlook
• Positive Sentiment: Analysts have publicly expressed increased confidence after results — Bernstein (Ian Moore) reaffirmed an Outperform and kept a $650 target, signaling conviction in Spotify’s recovery. Strong Results Drive Analyst Confidence
• Positive Sentiment: One shop raised Spotify’s price target to $650, providing incremental upside support to the stock narrative. Price Target Raised to $650
• Neutral Sentiment: Spotify’s CEO says top engineers are relying on AI to generate code while engineers supervise — this suggests major productivity gains and lower engineering costs long term, but raises questions about execution risk, quality control, and workforce impacts. Investors will watch for realized cost benefits and any operational issues. Spotify developers not writing code — Business Insider
• Negative Sentiment: Some analysts trimmed targets: Cantor Fitzgerald cut its target to $525, which signals lingering concerns about upside and could cap near-term gains. Cantor Fitzgerald Cuts Price Target to $525
• Negative Sentiment: Guggenheim also reduced its price target (to $720), a reminder that not all shops are uniformly bullish despite the beat — mixed analyst revisions add volatility risk. Guggenheim Cuts Price Target

Analysts Set New Price Targets

Several brokerages have commented on SPOT. Benchmark dropped their price objective on Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Pivotal Research cut shares of Spotify Technology from a “buy” rating to a “hold” rating and dropped their price target for the company from $875.00 to $420.00 in a research note on Wednesday, February 11th. KeyCorp cut their price target on shares of Spotify Technology from $830.00 to $720.00 and set an “overweight” rating for the company in a report on Monday, February 9th. The Goldman Sachs Group upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $735.00 to $700.00 in a research report on Friday, January 23rd. Finally, Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $706.42.

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.