Pinnacle Wealth Planning Services Inc. Has $826,000 Stock Holdings in Spotify Technology $SPOT

Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Spotify Technology (NYSE:SPOT) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,076 shares of the company’s stock after acquiring an additional 80 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Spotify Technology were worth $826,000 as of its most recent SEC filing.

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

Spotify Technology Price Performance

Shares of SPOT stock opened at $640.87 on Tuesday. The stock has a market cap of $131.95 billion, a PE ratio of 100.77, a price-to-earnings-growth ratio of 2.10 and a beta of 1.67. The stock has a 50-day moving average of $677.67 and a 200-day moving average of $685.08. Spotify Technology has a one year low of $443.21 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analyst Weigh In

SPOT has been the topic of several research reports. Benchmark upped their price target on Spotify Technology from $800.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. BNP Paribas raised Spotify Technology to a “strong-buy” rating in a report on Tuesday, September 16th. Argus initiated coverage on shares of Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 target price on the stock. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.