Granite Group Advisors LLC Purchases 47 Shares of Spotify Technology $SPOT

Granite Group Advisors LLC lifted its holdings in Spotify Technology (NYSE:SPOT) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 737 shares of the company’s stock after purchasing an additional 47 shares during the period. Granite Group Advisors LLC’s holdings in Spotify Technology were worth $566,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Joel Isaacson & Co. LLC grew its holdings in Spotify Technology by 1.0% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after buying an additional 15 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Spotify Technology by 2.4% in the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after acquiring an additional 15 shares during the period. Hartford Investment Management Co. grew its stake in shares of Spotify Technology by 1.1% in the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after acquiring an additional 16 shares during the last quarter. Stonekeep Investments LLC grew its stake in shares of Spotify Technology by 2.1% in the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after acquiring an additional 16 shares during the last quarter. Finally, Moody National Bank Trust Division increased its position in Spotify Technology by 0.5% during the second quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after acquiring an additional 16 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Down 1.3%

NYSE:SPOT opened at $682.75 on Wednesday. The firm 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 has a 12-month low of $364.26 and a 12-month high of $785.00. The firm has a 50-day moving average price of $700.53 and a 200 day moving average price of $669.26.

Spotify Technology (NYSE:SPOT) last released 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 analyst estimates of $4.29 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The firm’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, research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPOT. Argus began coverage on shares of Spotify Technology in a report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Pivotal Research increased their target price on shares of Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, June 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Spotify Technology in a research note on Wednesday, October 8th. Finally, Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. 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. According to data from MarketBeat.com, the company currently 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.