GM Advisory Group LLC Purchases Shares of 2,310 Spotify Technology $SPOT

GM Advisory Group LLC purchased a new position in shares of Spotify Technology (NYSE:SPOT) in the second quarter, HoldingsChannel reports. The fund purchased 2,310 shares of the company’s stock, valued at approximately $1,773,000.

A number of other institutional investors have also made changes to their positions in SPOT. Goldman Sachs Group Inc. boosted its stake in shares of Spotify Technology by 1,151.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after buying an additional 1,601,653 shares during the last quarter. Northern Trust Corp boosted its stake in Spotify Technology by 10.3% in the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock valued at $866,012,000 after purchasing an additional 147,580 shares during the period. Geode Capital Management LLC boosted its position in shares of Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after acquiring an additional 49,377 shares during the period. Forsta AP Fonden grew its position in shares of Spotify Technology by 12.6% during the 1st quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock worth $857,855,000 after purchasing an additional 174,700 shares in the last quarter. Finally, Invesco Ltd. grew its position in Spotify Technology by 3.7% during the first quarter. Invesco Ltd. now owns 1,240,028 shares of the company’s stock worth $682,053,000 after buying an additional 44,340 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $593.92 on Thursday. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The stock’s 50 day moving average is $663.06 and its 200 day moving average is $682.51. The firm has a market cap of $122.28 billion, a P/E ratio of 93.38, a P/E/G ratio of 1.93 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup lifted their price objective on Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. BNP Paribas Exane initiated coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price objective for the company. Oppenheimer raised their target price on shares of Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, August 18th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Argus initiated coverage on Spotify Technology in a research note on Monday, September 29th. They issued a “buy” rating and a $845.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Spotify Technology 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.