D1 Capital Partners L.P. 13F: Cuts SPOT Stake by $25M

D1 Capital Partners L.P. has cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 55,406 shares, according to its latest 13F filing with the SEC. This adjustment, reported as of the end of the first quarter, leaves D1 Capital with 340,494 shares valued at approximately $164.1 million. The move represents a 14% decrease in their Spotify holdings.

What Changed in D1 Capital Partners' Spotify Position

D1 Capital Partners reduced its Spotify holdings from 395,900 shares to 340,494 shares, a decrease of 55,406 shares, or nearly 14%. The current value of this position is about $164.1 million, reflecting a strategic decision to trim its investment in the audio streaming giant.

Other Institutional Activity in Spotify

Several other major institutional investors also adjusted their stakes in Spotify. BlackRock, Inc. reduced its holdings by 222,507 shares, ending with 11,377,853 shares valued at approximately $5.52 billion. On the other hand, Morgan Stanley increased its position significantly by adding 1,779,548 shares, bringing its total to 8,380,266 shares worth about $4.06 billion. Baillie Gifford & Co trimmed its stake by 112,901 shares, holding 8,218,203 shares valued at $3.99 billion. State Street Corp added 16,804 shares, holding a total of 4,729,053 shares valued at $2.29 billion. Price T Rowe Associates Inc /MD/ also increased its position by 734,367 shares, resulting in 4,603,839 shares worth $2.23 billion.

Spotify Technology S.A. Stock Down 12.4%

Shares of Spotify (NYSE:SPOT) are trading around $482. The company has a market cap of $99.1 billion and a P/E ratio of 32.46. Its forward P/E stands at 26.27, and it has a beta of 1.55, indicating moderate volatility. The stock's 52-week range is between $405 and $785, with a 50-day moving average of $480.40 and a 200-day moving average of $560.53. Spotify's current ratio is 2.06, and its quick ratio is 1.51, suggesting reasonable short-term liquidity. However, its debt-to-equity ratio is relatively high at 5.94.

Recent Earnings

Spotify reported revenue of $17.53 billion with a growth rate of 8.2%. The company achieved a net margin of 15.45% and a return on equity of 37.99%. Earnings per share were $14.85. The next earnings report is scheduled for July 28, 2026.

Insider Buying and Selling at Spotify Technology S.A.

On June 2, 2026, Co-CEO Gustav Soderstrom sold 20,833 shares at an undisclosed price, while Co-CEO Alex Norstrom sold 5,436 shares, also at an undisclosed price. On the same day, Soderstrom purchased 20,833 shares at $151.25, and Norstrom bought 5,436 shares at the same price. Some of these transactions were planned under Rule 10b5-1.

Analysts Set New Price Targets

On May 26, 2026, Cantor Fitzgerald maintained a 'hold' rating with a price target of $520. On May 22, JP Morgan, Wells Fargo, Citizens, Barclays, and Morgan Stanley all maintained 'buy' ratings, with price targets of $650, $600, $625, $565, and $610, respectively. Rosenblatt maintained a 'hold' rating with a target of $534. UBS had earlier set a target of $735 on April 30. The consensus among 39 analysts is a 'buy', with a mean target price of $607.24.

About Spotify Technology S.A.

Spotify Technology S.A., headquartered in Stockholm, Sweden, is a leading provider of audio streaming services globally. Founded in 2006, the company offers both premium and ad-supported streaming options, allowing access to a vast library of music and podcasts. With over 7,200 employees, Spotify continues to innovate in the internet content and information industry under the leadership of CEO Alex Norström.

Bottom Line

D1 Capital Partners' decision to reduce its stake in Spotify is part of its ongoing portfolio management strategy. Investors closely monitor these filings to gauge institutional sentiment. It's important to remember that these 13F filings reflect positions as of the end of the reporting period and may not represent current holdings.