290 Shares in Spotify Technology $SPOT Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. purchased a new stake in shares of Spotify Technology (NYSE:SPOT) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 290 shares of the company’s stock, valued at approximately $223,000.

A number of other hedge funds also recently modified their holdings of the company. Tsfg LLC bought a new stake in shares of Spotify Technology during the first quarter valued at approximately $28,000. Cornerstone Planning Group LLC boosted its stake in Spotify Technology by 512.5% during the first 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. North Star Investment Management Corp. boosted its stake in Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after buying an additional 19 shares in the last quarter. Sound Income Strategies LLC increased its holdings in Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology in the 1st quarter valued at $34,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SPOT shares. The Goldman Sachs Group lowered shares of Spotify Technology from a “buy” rating to a “neutral” rating and lifted their target price for the company from $765.00 to $770.00 in a research report on Tuesday, September 30th. BNP Paribas raised Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Morgan Stanley lowered their price objective on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Sanford C. Bernstein raised their target price on Spotify Technology from $825.00 to $840.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, BNP Paribas Exane started coverage on Spotify Technology in a research note on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $731.16.

Spotify Technology Stock Performance

Shares of SPOT opened at $680.28 on Tuesday. The company has a market cap of $139.26 billion, a price-to-earnings ratio of 165.12, a PEG ratio of 3.22 and a beta of 1.67. The stock has a fifty day moving average price of $695.42 and a two-hundred day moving average price of $665.91. Spotify Technology has a 52-week low of $362.31 and a 52-week high of $785.00.

Spotify Technology (NYSE:SPOT) last announced its 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 business had revenue of $4.94 billion during the quarter, compared to analyst estimates 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 business posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal 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.