Coatue Management 13F: Cuts SPOT Stake by $519M

Coatue Management has significantly reduced its position in Spotify Technology S.A. (NYSE:SPOT) according to its latest Form 13F filing with the SEC. The firm cut its holdings by 1,129,967 shares, a 46% reduction, leaving it with 1,320,914 shares valued at approximately $636.7 million as of the end of the first quarter of 2026.

What Changed in Coatue Management's Spotify Position

Coatue Management's decision to trim its Spotify holdings saw its share count drop from 2,450,881 to 1,320,914 shares. This move represents a sharp 46% reduction in its stake, signaling a considerable change in its investment strategy regarding the music streaming giant.

Other Institutional Activity in Spotify

In the same period, BlackRock, Inc. reduced its Spotify holdings by 222,507 shares, ending with 11,377,853 shares worth about $5.52 billion. Morgan Stanley, on the other hand, increased its stake by 1,779,548 shares, bringing its total to 8,380,266 shares valued at $4.06 billion. Baillie Gifford & Co trimmed its position by 112,901 shares, ending with 8,218,203 shares worth $3.99 billion. State Street Corp added 16,804 shares to its holdings, now totaling 4,729,053 shares valued at $2.29 billion. Price T Rowe Associates Inc /MD/ also boosted its position by 734,367 shares, holding 4,603,839 shares worth $2.23 billion.

Spotify Technology S.A. Stock Down 12.4%

Shares of NYSE:SPOT are trading near $482. Spotify Technology S.A. has a market capitalization of approximately $99.1 billion. The stock's P/E ratio is 32.4, with a forward P/E of 26.3. Spotify's beta stands at 1.553, indicating a higher volatility compared to the market. The stock has seen a 52-week low of $405 and a high of $785. Its 50-day moving average is $480.16, while the 200-day moving average is $561.60. Spotify maintains a current ratio of 2.06 and a quick ratio of 1.51, with a debt-to-equity ratio of 5.94.

Recent Earnings

Spotify reported revenues of $17.53 billion, reflecting a growth of 8.2%. The company achieved a net margin of 15.4% and a return on equity of 37.9%. Earnings per share were $14.87. Spotify is expected to release its next earnings report on April 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 and also bought the same amount at $151.25 per share. Co-CEO Alex Norström sold 5,436 shares under a Rule 10b5-1 plan at $498.27 and bought the same number of shares at $151.25.

Analysts Set New Price Targets

On May 22, 2026, JP Morgan maintained its 'buy' rating for Spotify with a price target of $650. Wells Fargo and Citizens both upheld 'buy' ratings with targets of $600 and $625, respectively. Barclays also maintained a 'buy' rating with a $565 target. Cantor Fitzgerald, on May 26, 2026, maintained a 'hold' rating with a $520 target. Overall, the consensus among 39 analysts remains a 'buy', with a mean price target of $607.07.

About Spotify Technology S.A.

Spotify Technology S.A. is a leading audio streaming service provider based in Stockholm, Sweden. Founded in 2006, the company offers a wide range of music and podcast streaming services across its Premium and Ad-Supported segments. Spotify's Premium segment provides online and offline streaming through subscription services, while the Ad-Supported segment allows limited access to its extensive catalog. Led by CEO Mr. Alex Norström, Spotify employs over 7,200 people globally.

Bottom Line

Coatue Management's significant reduction in its Spotify stake highlights a shift in its investment focus. Investors closely watch such moves to gauge market sentiment and potential future trends. Remember, 13F filings reflect holdings as of a specific period and may not indicate current positions. Spotify remains a key player in the streaming industry, with analysts maintaining a positive outlook on its stock.