1,008 Shares in Spotify Technology $SPOT Acquired by Sheets Smith Wealth Management

Sheets Smith Wealth Management acquired a new position in Spotify Technology (NYSE:SPOT) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,008 shares of the company’s stock, valued at approximately $773,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sapient Capital LLC acquired a new position in Spotify Technology in the 2nd quarter worth approximately $322,000. Legacy Capital Group California Inc. boosted its stake in Spotify Technology by 110.9% in the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock worth $2,990,000 after purchasing an additional 2,049 shares during the period. Harbor Investment Advisory LLC lifted its position in Spotify Technology by 36.0% in the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock worth $1,576,000 after buying an additional 544 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Spotify Technology by 39.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after buying an additional 769 shares in the last quarter. Finally, Swedbank AB lifted its position in Spotify Technology by 1.4% in the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock worth $527,802,000 after buying an additional 13,458 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays cut their target price on shares of Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Evercore ISI increased their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price for the company in a research report on Wednesday, July 30th. BNP Paribas Exane assumed coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 target price for the company. Finally, KeyCorp cut their target price on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $726.84.

Spotify Technology Trading Down 1.4%

Spotify Technology stock opened at $708.96 on Thursday. The company has a market capitalization of $145.13 billion, a P/E ratio of 172.08, a P/E/G ratio of 3.09 and a beta of 1.71. The firm’s fifty day simple moving average is $693.82 and its 200-day simple moving average is $656.50. Spotify Technology has a 1-year low of $362.31 and a 1-year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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.