PUREfi Wealth LLC Purchases 51 Shares of Spotify Technology $SPOT

PUREfi Wealth LLC grew its position in shares of Spotify Technology (NYSE:SPOT) by 9.2% in the second quarter, Holdings Channel reports. The fund owned 604 shares of the company’s stock after buying an additional 51 shares during the quarter. PUREfi Wealth LLC’s holdings in Spotify Technology were worth $463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Valeo Financial Advisors LLC lifted its position in Spotify Technology by 11.5% in the second quarter. Valeo Financial Advisors LLC now owns 427 shares of the company’s stock worth $328,000 after buying an additional 44 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in Spotify Technology by 51.6% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 3,003 shares of the company’s stock worth $2,304,000 after buying an additional 1,022 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Spotify Technology by 0.3% in the second quarter. DAVENPORT & Co LLC now owns 206,793 shares of the company’s stock worth $158,932,000 after buying an additional 517 shares during the last quarter. Merit Financial Group LLC lifted its position in Spotify Technology by 10.7% in the second quarter. Merit Financial Group LLC now owns 4,627 shares of the company’s stock worth $3,550,000 after buying an additional 447 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its position in Spotify Technology by 26.6% in the second quarter. Beacon Financial Advisory LLC now owns 509 shares of the company’s stock worth $391,000 after buying an additional 107 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Trading Down 3.7%

Shares of NYSE:SPOT opened at $681.46 on Monday. Spotify Technology has a 12-month low of $362.31 and a 12-month high of $785.00. The company has a market capitalization of $139.50 billion, a PE ratio of 165.40, a PEG ratio of 3.22 and a beta of 1.67. The business has a 50 day moving average of $695.85 and a two-hundred day moving average of $665.34.

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

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of analyst reports. Evercore ISI raised their price target on Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research report on Monday, June 16th. Morgan Stanley decreased their target price on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. DZ Bank upgraded 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. Rosenblatt Securities restated a “neutral” rating and issued a $679.00 price objective on shares of Spotify Technology in a report on Wednesday, October 1st. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Spotify Technology in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

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.