Northwestern Mutual Wealth Management Co. Raises Stock Position in Spotify Technology $SPOT

Northwestern Mutual Wealth Management Co. raised its position in Spotify Technology (NYSE:SPOT) by 40.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 38,635 shares of the company’s stock after acquiring an additional 11,077 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Spotify Technology were worth $29,646,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC raised its position in shares of Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares during the period. GFG Capital LLC purchased a new position in Spotify Technology in the second quarter worth approximately $33,000. Truvestments Capital LLC acquired a new stake in Spotify Technology during the first quarter worth $34,000. Avion Wealth purchased a new stake in Spotify Technology in the second quarter valued at $38,000. Finally, SouthState Corp acquired a new position in shares of Spotify Technology in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT stock opened at $599.11 on Friday. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00. The company has a 50 day moving average price of $657.55 and a 200 day moving average price of $682.18. The stock has a market capitalization of $123.35 billion, a P/E ratio of 94.20, a price-to-earnings-growth ratio of 1.98 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $1.87 by $1.96. The company had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research analyst reports. Citigroup increased their price target on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Rosenblatt Securities dropped their price target on shares of Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Finally, The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. Two research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $758.86.

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.