PNC Financial Services Group Inc. Acquires 3,082 Shares of Spotify Technology $SPOT

PNC Financial Services Group Inc. grew its holdings in Spotify Technology (NYSE:SPOT) by 17.4% during the second quarter, Holdings Channel.com reports. The firm owned 20,756 shares of the company’s stock after acquiring an additional 3,082 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Spotify Technology were worth $15,927,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SPOT. Sound Income Strategies LLC grew its holdings in shares of 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 acquiring an additional 25 shares in the last quarter. GFG Capital LLC acquired a new position in Spotify Technology during the second quarter valued at approximately $33,000. Truvestments Capital LLC bought a new position in Spotify Technology in the first quarter valued at approximately $34,000. Avion Wealth acquired a new position in shares of Spotify Technology during the 2nd quarter worth approximately $38,000. Finally, SouthState Corp bought a new stake in shares of Spotify Technology during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Price Performance

SPOT stock opened at $634.57 on Friday. Spotify Technology has a fifty-two week low of $443.21 and a fifty-two week high of $785.00. The stock has a market capitalization of $130.65 billion, a price-to-earnings ratio of 99.78, a PEG ratio of 2.13 and a beta of 1.67. The business’s fifty day moving average price is $679.23 and its two-hundred day moving average price is $683.57.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating the consensus estimate of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the company posted $1.45 earnings per share. Spotify Technology’s revenue was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. Research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SPOT. Wells Fargo & Company boosted their target price on shares of Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Argus initiated coverage on Spotify Technology in a research report on Monday, September 29th. They issued a “buy” rating and a $845.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spotify Technology in a report on Thursday. Finally, Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology 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.