Ritholtz Wealth Management Purchases 98 Shares of Spotify Technology $SPOT

Ritholtz Wealth Management grew its holdings in shares of Spotify Technology (NYSE:SPOT) by 1.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,886 shares of the company’s stock after buying an additional 98 shares during the period. Ritholtz Wealth Management’s holdings in Spotify Technology were worth $5,284,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Jennison Associates LLC grew its position in Spotify Technology by 42.3% in the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company’s stock valued at $2,336,494,000 after acquiring an additional 1,262,614 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Spotify Technology by 3.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,526,988 shares of the company’s stock valued at $1,939,949,000 after purchasing an additional 112,553 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Spotify Technology by 10.3% in the first quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock worth $866,012,000 after purchasing an additional 147,580 shares during the last quarter. Finally, Forsta AP Fonden increased its stake in Spotify Technology by 12.6% in the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock worth $857,855,000 after buying an additional 174,700 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 1.3%

Shares of NYSE SPOT opened at $682.75 on Wednesday. Spotify Technology has a 12-month low of $364.26 and a 12-month high of $785.00. The stock’s fifty day simple moving average is $700.53 and its two-hundred day simple moving average is $669.26. The stock has a market capitalization of $139.77 billion, a PE ratio of 165.72, a price-to-earnings-growth ratio of 3.26 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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). Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the business earned $1.33 EPS. Spotify Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, equities analysts predict that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Spotify Technology in a research note on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 29th. Canaccord Genuity Group raised their price objective on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. The Goldman Sachs Group lowered Spotify Technology from a “buy” rating to a “neutral” rating and lifted their target price for the company from $765.00 to $770.00 in a research report on Tuesday, September 30th. Finally, Morgan Stanley dropped their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average 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.