Tower View Wealth Management LLC Increases Stock Holdings in Spotify Technology $SPOT

Tower View Wealth Management LLC boosted its stake in Spotify Technology (NYSE:SPOT) by 50.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,945 shares of the company’s stock after buying an additional 1,650 shares during the quarter. Spotify Technology accounts for approximately 2.0% of Tower View Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. Tower View Wealth Management LLC’s holdings in Spotify Technology were worth $3,794,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SPOT. Tsfg LLC bought a new stake in shares of Spotify Technology in the 1st quarter worth $28,000. Cornerstone Planning Group LLC grew its position in Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 41 shares in the last quarter. North Star Investment Management Corp. increased its stake in 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 buying an additional 19 shares during the last quarter. Sound Income Strategies LLC lifted its position 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 worth $31,000 after buying an additional 25 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Spotify Technology during the 1st quarter worth approximately $34,000. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SPOT shares. Pivotal Research upped their target price on Spotify Technology from $800.00 to $900.00 and gave the company a “buy” rating in a report on Tuesday, June 17th. Benchmark reduced their price objective on Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a research note on Monday, August 4th. BNP Paribas Exane began coverage on shares of Spotify Technology in a report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target on the stock. Finally, Evercore ISI increased their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Stock Up 1.0%

NYSE SPOT opened at $707.70 on Friday. The company has a market cap of $144.87 billion, a PE ratio of 171.77, a price-to-earnings-growth ratio of 3.32 and a beta of 1.67. Spotify Technology has a 52 week low of $362.31 and a 52 week high of $785.00. The firm’s 50-day simple moving average is $696.08 and its two-hundred day simple moving average is $663.52.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business 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 revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research 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.