Norden Group LLC Increases Holdings in Spotify Technology $SPOT

Norden Group LLC increased its holdings in Spotify Technology (NYSE:SPOT) by 47.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 747 shares of the company’s stock after purchasing an additional 239 shares during the quarter. Norden Group LLC’s holdings in Spotify Technology were worth $573,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in SPOT. Accurate Wealth Management LLC boosted its stake in shares of Spotify Technology by 7.3% during the 2nd quarter. Accurate Wealth Management LLC now owns 2,330 shares of the company’s stock valued at $1,654,000 after purchasing an additional 158 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Spotify Technology by 255.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,072 shares of the company’s stock worth $823,000 after purchasing an additional 770 shares during the last quarter. Sheets Smith Wealth Management bought a new position in shares of Spotify Technology in the second quarter worth approximately $773,000. Family Investment Center Inc. purchased a new stake in Spotify Technology during the 2nd quarter valued at $242,000. Finally, GSB Wealth Management LLC bought a new stake in Spotify Technology in the 2nd quarter worth about $230,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Up 0.5%

Shares of Spotify Technology stock opened at $712.03 on Friday. Spotify Technology has a 52 week low of $362.31 and a 52 week high of $785.00. The company has a 50 day moving average price of $693.65 and a 200 day moving average price of $658.04. The firm has a market capitalization of $145.76 billion, a P/E ratio of 172.82, a PEG ratio of 3.05 and a beta of 1.71.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.Spotify Technology’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on SPOT. Phillip Securities raised Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Pivotal Research raised their price target on Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Sanford C. Bernstein upped their target price on shares of Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Guggenheim restated a “buy” rating and set a $850.00 price target on shares of Spotify Technology in a report on Wednesday, September 3rd. Finally, Rosenblatt Securities reduced their target price on shares of Spotify Technology from $703.00 to $679.00 and set a “neutral” rating on the stock in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $726.84.

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.