SteelPeak Wealth LLC Purchases 1,004 Shares of Spotify Technology $SPOT

SteelPeak Wealth LLC increased its position in shares of Spotify Technology (NYSE:SPOT) by 82.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,215 shares of the company’s stock after acquiring an additional 1,004 shares during the quarter. SteelPeak Wealth LLC’s holdings in Spotify Technology were worth $1,700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sapient Capital LLC bought a new position in Spotify Technology during the 2nd quarter worth approximately $322,000. Swedbank AB boosted its stake in Spotify Technology by 1.4% during the 1st quarter. Swedbank AB now owns 959,587 shares of the company’s stock worth $527,802,000 after acquiring an additional 13,458 shares during the last quarter. Legacy Capital Group California Inc. raised its holdings in Spotify Technology by 110.9% during the 2nd quarter. Legacy Capital Group California Inc. now owns 3,896 shares of the company’s stock worth $2,990,000 after buying an additional 2,049 shares during the period. Harbor Investment Advisory LLC raised its holdings in Spotify Technology by 36.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 2,054 shares of the company’s stock worth $1,576,000 after buying an additional 544 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in Spotify Technology by 39.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,702 shares of the company’s stock worth $1,486,000 after buying an additional 769 shares during the period. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on SPOT. Cantor Fitzgerald raised their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a “neutral” rating in a report on Wednesday, June 18th. Evercore ISI raised their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a report on Monday, June 16th. DZ Bank upgraded shares of Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price on the stock in a report on Wednesday, July 30th. UBS Group dropped their target price on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $679.00 target price on shares of Spotify Technology in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology Stock Down 0.1%

NYSE SPOT opened at $679.89 on Wednesday. The company has a market capitalization of $139.18 billion, a PE ratio of 165.02, a price-to-earnings-growth ratio of 3.22 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’s 50 day moving average is $696.61 and its 200-day moving average is $666.00.

Spotify Technology (NYSE:SPOT) last issued its earnings results 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). The firm had revenue of $4.94 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current year.

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.