Empower Advisory Group LLC Decreases Stock Holdings in Spotify Technology $SPOT

Empower Advisory Group LLC decreased its stake in shares of Spotify Technology (NYSE:SPOT) by 4.3% during the second quarter, Holdings Channel reports. The firm owned 1,842 shares of the company’s stock after selling 83 shares during the quarter. Empower Advisory Group LLC’s holdings in Spotify Technology were worth $1,413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Spotify Technology by 1,151.0% during the 1st 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. Nuveen LLC bought a new stake in shares of Spotify Technology in the first quarter worth $383,139,000. Axiom Investors LLC DE increased its position in Spotify Technology by 216.8% during the first quarter. Axiom Investors LLC DE now owns 719,682 shares of the company’s stock valued at $395,847,000 after acquiring an additional 492,504 shares during the last quarter. Bessemer Group Inc. lifted its holdings in Spotify Technology by 215.3% in the second quarter. Bessemer Group Inc. now owns 505,329 shares of the company’s stock valued at $387,758,000 after acquiring an additional 345,048 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Spotify Technology by 39.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,178,907 shares of the company’s stock worth $648,434,000 after purchasing an additional 336,162 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 1.7%

NYSE SPOT opened at $634.57 on Friday. Spotify Technology has a 12 month low of $443.21 and a 12 month high of $785.00. The stock has a market cap of $130.65 billion, a price-to-earnings ratio of 99.78, a PEG ratio of 2.10 and a beta of 1.67. The company’s 50 day moving average is $679.23 and its two-hundred day moving average is $684.31.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.45 earnings per share. 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 year.

Wall Street Analyst Weigh In

Several research firms have recently commented on SPOT. Guggenheim reduced their price target on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. DZ Bank raised shares of Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company upped their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. BNP Paribas upgraded shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Finally, KeyCorp dropped their price target on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $758.86.

Spotify Technology Company 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.