Equitable Trust Co. Has $6.47 Million Stock Holdings in Spotify Technology $SPOT

Equitable Trust Co. increased its position in shares of Spotify Technology (NYSE:SPOT) by 2.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,436 shares of the company’s stock after acquiring an additional 239 shares during the quarter. Equitable Trust Co.’s holdings in Spotify Technology were worth $6,473,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SPOT. GAMMA Investing LLC lifted its stake in Spotify Technology by 38.1% in the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company’s stock valued at $718,000 after buying an additional 360 shares during the period. Fifth Third Bancorp increased its holdings in shares of Spotify Technology by 30.7% in the first quarter. Fifth Third Bancorp now owns 302 shares of the company’s stock worth $166,000 after acquiring an additional 71 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of Spotify Technology by 35.1% in the first quarter. CVA Family Office LLC now owns 100 shares of the company’s stock worth $55,000 after acquiring an additional 26 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Spotify Technology by 238.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company’s stock worth $13,993,000 after acquiring an additional 17,932 shares in the last quarter. Finally, Ritholtz Wealth Management increased its holdings in shares of Spotify Technology by 18.3% in the first quarter. Ritholtz Wealth Management now owns 6,788 shares of the company’s stock worth $3,734,000 after acquiring an additional 1,052 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of NYSE SPOT opened at $691.38 on Tuesday. The stock has a 50 day moving average price of $699.82 and a 200 day moving average price of $669.16. Spotify Technology has a 52 week low of $364.26 and a 52 week high of $785.00. The stock has a market capitalization of $141.53 billion, a PE ratio of 167.81, a price-to-earnings-growth ratio of 3.23 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 last year, the company posted $1.33 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. BNP Paribas Exane started coverage on Spotify Technology in a report on Tuesday, September 16th. They set an “outperform” rating and a $900.00 price objective for the company. The Goldman Sachs Group downgraded 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 report on Tuesday, September 30th. Deutsche Bank Aktiengesellschaft increased their price objective on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Finally, Citigroup increased their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.