GM Advisory Group LLC Purchases Shares of 2,310 Spotify Technology $SPOT

GM Advisory Group LLC acquired a new stake in shares of Spotify Technology (NYSE:SPOT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,310 shares of the company’s stock, valued at approximately $1,773,000.

Several other institutional investors have also made changes to their positions in SPOT. Joel Isaacson & Co. LLC lifted its stake in Spotify Technology by 1.0% during the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock worth $1,190,000 after purchasing an additional 15 shares during the period. Ignite Planners LLC boosted its stake in Spotify Technology by 2.4% in the 2nd quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after buying an additional 15 shares in the last quarter. Hartford Investment Management Co. raised its stake in Spotify Technology by 1.1% during the first quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after acquiring an additional 16 shares in the last quarter. Stonekeep Investments LLC lifted its holdings in shares of Spotify Technology by 2.1% during the second quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock valued at $593,000 after acquiring an additional 16 shares during the period. Finally, Moody National Bank Trust Division boosted its stake in shares of Spotify Technology by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock valued at $2,249,000 after purchasing an additional 16 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $593.92 on Thursday. The company’s 50 day simple moving average is $663.06 and its 200 day simple moving average is $682.51. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00. The firm has a market capitalization of $122.28 billion, a P/E ratio of 93.38, a P/E/G ratio of 1.93 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the firm earned $1.45 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. Sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Argus assumed coverage on Spotify Technology in a research note on Monday, September 29th. They issued a “buy” rating and a $845.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Oppenheimer increased their price objective on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. Finally, The Goldman Sachs Group downgraded shares of Spotify Technology from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $765.00 to $770.00 in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $758.86.

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.