Napa Wealth Management Makes New Investment in Spotify Technology $SPOT

Key Points

• Napa Wealth Management has purchased 487 shares of Spotify Technology ($SPOT), valued at approximately $268,000, indicating growing interest from institutional investors.
• Several hedge funds, including QRG Capital Management and Wealth Enhancement Advisory Services, have significantly increased their holdings, reflecting a strong institutional backing with 84.09% of Spotify's stock owned by such investors.
• Analyst ratings for Spotify remain mostly positive, with a majority assigning a "Buy" rating, and an average price target of $720.07, despite a reported EPS miss in the most recent quarterly results.

Napa Wealth Management bought a new position in Spotify Technology (NYSE:SPOT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 487 shares of the company's stock, valued at approximately $268,000.

A number of other large investors also recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new stake in Spotify Technology in the 4th quarter valued at $26,000. Tsfg LLC purchased a new stake in shares of Spotify Technology during the 1st quarter valued at $28,000. Copia Wealth Management purchased a new stake in shares of Spotify Technology during the 4th quarter valued at $29,000. Cornerstone Planning Group LLC increased its position 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 valued at $29,000 after purchasing an additional 41 shares during the last quarter. Finally, North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% during the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

NYSE:SPOT traded down $5.20 during mid-day trading on Thursday, reaching $687.79. The stock had a trading volume of 1,015,277 shares, compared to its average volume of 2,274,498. The firm has a 50 day moving average price of $702.44 and a two-hundred day moving average price of $642.99. The stock has a market capitalization of $140.80 billion, a P/E ratio of 166.94, a P/E/G ratio of 3.00 and a beta of 1.69. Spotify Technology has a one year low of $319.07 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS 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 revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPOT. Benchmark decreased their price objective on Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft raised their target price on Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group boosted their price objective on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Loop Capital boosted their price objective on Spotify Technology from $435.00 to $550.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Finally, DZ Bank raised Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective for the company in a report on Wednesday, July 30th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $720.07.

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.