Spotify Technology $SPOT Shares Purchased by Wealthedge Investment Advisors LLC

Wealthedge Investment Advisors LLC raised its position in Spotify Technology (NYSE:SPOT) by 132.9% during the second quarter, Holdings Channel.com reports. The firm owned 1,318 shares of the company’s stock after buying an additional 752 shares during the period. Wealthedge Investment Advisors LLC’s holdings in Spotify Technology were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after buying an additional 1,601,653 shares during the period. Northern Trust Corp lifted its stake in shares of Spotify Technology by 10.3% during the 1st 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 period. Geode Capital Management LLC boosted its holdings in shares of Spotify Technology by 3.3% during the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock worth $1,192,730,000 after purchasing an additional 49,377 shares during the last quarter. Forsta AP Fonden grew its position in shares of Spotify Technology by 12.6% in the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after purchasing an additional 174,700 shares during the period. Finally, Edgewood Management LLC increased its stake in Spotify Technology by 14.4% in the second quarter. Edgewood Management LLC now owns 1,249,791 shares of the company’s stock valued at $959,015,000 after purchasing an additional 157,567 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

NYSE SPOT opened at $599.11 on Monday. Spotify Technology has a one year low of $443.21 and a one year high of $785.00. The company’s 50 day moving average price is $657.55 and its 200 day moving average price is $682.57. The firm has a market capitalization of $123.35 billion, a price-to-earnings ratio of 94.20, a PEG ratio of 1.98 and a beta of 1.66.

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

Analyst Ratings Changes

A number of analysts have issued reports on SPOT shares. Rosenblatt Securities decreased their price target on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Phillip Securities raised shares of Spotify Technology from a “hold” rating to a “moderate buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Spotify Technology in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and a consensus target price of $758.86.

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.