Precision Wealth Strategies LLC Sells 108 Shares of Spotify Technology $SPOT

Precision Wealth Strategies LLC reduced its holdings in shares of Spotify Technology (NYSE:SPOT) by 10.1% in the second quarter, HoldingsChannel.com reports. The fund owned 966 shares of the company’s stock after selling 108 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Spotify Technology were worth $741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. Sound Income Strategies LLC grew its stake in Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares during the period. Cornerstone Planning Group LLC boosted its holdings 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 worth $29,000 after buying an additional 41 shares in the last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth approximately $28,000. North Star Investment Management Corp. increased its stake in shares of Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at $34,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SPOT. Citigroup raised their price target on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Cantor Fitzgerald raised their target price on Spotify Technology from $610.00 to $640.00 and gave the company a “neutral” rating in a research note on Wednesday, June 18th. Deutsche Bank Aktiengesellschaft upped their price target on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. BNP Paribas raised Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Oppenheimer boosted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Price Performance

SPOT opened at $702.00 on Thursday. Spotify Technology has a 1 year low of $362.31 and a 1 year high of $785.00. The company has a market capitalization of $143.71 billion, a price-to-earnings ratio of 170.39, a P/E/G ratio of 3.00 and a beta of 1.67. The firm’s fifty day moving average price is $695.53 and its two-hundred day moving average price is $662.76.

Spotify Technology (NYSE:SPOT) last issued its quarterly 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 company had revenue of $4.94 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts anticipate that Spotify Technology will post 10.3 EPS for the current year.

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.