Resonant Capital Advisors LLC Buys 117 Shares of Spotify Technology $SPOT

Resonant Capital Advisors LLC increased its stake in shares of Spotify Technology (NYSE:SPOT) by 24.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 588 shares of the company’s stock after acquiring an additional 117 shares during the period. Resonant Capital Advisors LLC’s holdings in Spotify Technology were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wealthfront Advisers LLC lifted its holdings in shares of Spotify Technology by 19.4% during the second quarter. Wealthfront Advisers LLC now owns 1,401 shares of the company’s stock valued at $1,075,000 after acquiring an additional 228 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Spotify Technology by 18.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,280 shares of the company’s stock valued at $7,121,000 after purchasing an additional 1,416 shares during the last quarter. Ingalls & Snyder LLC bought a new position in Spotify Technology during the 2nd quarter valued at about $348,000. Anthracite Investment Company Inc. raised its stake in shares of Spotify Technology by 16.7% in the second quarter. Anthracite Investment Company Inc. now owns 7,000 shares of the company’s stock valued at $5,371,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Spotify Technology by 998.6% in the second quarter. Brighton Jones LLC now owns 656 shares of the company’s stock valued at $503,000 after acquiring an additional 729 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Spotify Technology Price Performance

SPOT opened at $645.22 on Monday. The company has a market cap of $132.08 billion, a price-to-earnings ratio of 156.61, a price-to-earnings-growth ratio of 3.08 and a beta of 1.67. The firm has a 50 day simple moving average of $696.53 and a 200 day simple moving average of $677.57. Spotify Technology has a fifty-two week low of $376.00 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 business’s revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on SPOT shares. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price objective for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Canaccord Genuity Group boosted their target price on shares of Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Sanford C. Bernstein boosted their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, KeyCorp dropped their price objective 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

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.