GDS Wealth Management Raises Stock Position in Spotify Technology $SPOT

GDS Wealth Management boosted its position in Spotify Technology (NYSE:SPOT) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,543 shares of the company’s stock after purchasing an additional 2,932 shares during the quarter. GDS Wealth Management’s holdings in Spotify Technology were worth $13,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its holdings in shares of Spotify Technology by 156.3% in the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the period. GFG Capital LLC purchased a new position in Spotify Technology during the second quarter worth about $33,000. Truvestments Capital LLC bought a new position in Spotify Technology in the 1st quarter worth about $34,000. Avion Wealth bought a new position in Spotify Technology in the 2nd quarter worth about $38,000. Finally, SouthState Corp purchased a new stake in shares of Spotify Technology in the 1st quarter valued at about $39,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Down 2.8%

Spotify Technology stock opened at $618.89 on Thursday. The firm has a fifty day simple moving average of $674.31 and a two-hundred day simple moving average of $684.58. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The company has a market capitalization of $127.42 billion, a PE ratio of 97.31, a P/E/G ratio of 2.10 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, beating the consensus estimate of $1.87 by $1.96. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.Spotify Technology’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, equities analysts expect 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 several recent analyst reports. Phillip Securities raised Spotify Technology from a “hold” rating to a “moderate buy” rating in a report on Monday, November 10th. Citigroup lifted their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a research report on Tuesday, September 9th. Rosenblatt Securities decreased their price target on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Guggenheim lowered their price objective on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Oppenheimer upped their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.86.

Spotify Technology 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.