Spotify Technology $SPOT Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lowered its stake in shares of Spotify Technology (NYSE:SPOT) by 17.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,804 shares of the company’s stock after selling 605 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Spotify Technology were worth $2,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SPOT. Tsfg LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at about $28,000. Cornerstone Planning Group LLC increased its stake in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 41 shares during the last quarter. Sound Income Strategies LLC increased its stake 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 acquiring an additional 25 shares during the last quarter. GFG Capital LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at about $33,000. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SPOT shares. Wells Fargo & Company increased their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 29th. Cantor Fitzgerald increased their target price on shares of Spotify Technology from $610.00 to $640.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 18th. Bank of America increased their target price on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Morgan Stanley dropped their target price on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Finally, Argus started coverage on shares of Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Down 1.6%

NYSE SPOT opened at $672.27 on Thursday. The stock has a market cap of $137.62 billion, a PE ratio of 163.17, a P/E/G ratio of 3.22 and a beta of 1.67. Spotify Technology has a fifty-two week low of $366.65 and a fifty-two week high of $785.00. The business has a 50 day moving average price of $700.64 and a two-hundred day moving average price of $669.28.

Spotify Technology (NYSE:SPOT) last released its 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). The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business’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 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Sell-side analysts anticipate that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology 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.