Balboa Wealth Partners Takes Position in Spotify Technology $SPOT

Key Points

• Balboa Wealth Partners acquired a new stake in Spotify Technology, purchasing 375 shares valued at approximately $288,000 during the second quarter.
• Spotify's stock performance shows it has a market cap of $138.19 billion, with a 52-week low of $376.00 and a high of $785.00.
• Despite a quarterly earnings miss, Spotify's revenue increased by 10.1% year-over-year, reaching $4.94 billion for the quarter.

Balboa Wealth Partners purchased a new stake in Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 375 shares of the company's stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SPOT. Tsfg LLC bought a new position in shares of Spotify Technology in the 1st quarter valued at $28,000. Cornerstone Planning Group LLC raised its position in Spotify Technology by 512.5% in the first 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. Sound Income Strategies LLC boosted its stake 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 valued at $31,000 after purchasing an additional 25 shares in the last quarter. GFG Capital LLC bought a new stake in shares of Spotify Technology during the second quarter worth about $33,000. Finally, Truvestments Capital LLC acquired a new position in shares of Spotify Technology in the first quarter valued at approximately $34,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Stock Performance

Spotify Technology stock opened at $675.03 on Tuesday. Spotify Technology has a 52-week low of $376.00 and a 52-week high of $785.00. The firm has a 50 day moving average price of $699.14 and a two-hundred day moving average price of $673.60. The firm has a market cap of $138.19 billion, a price-to-earnings ratio of 163.84, a PEG ratio of 3.20 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.00 by ($2.42). Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The firm had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on SPOT shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Spotify Technology from $700.00 to $775.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. UBS Group cut their target price on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. BNP Paribas Exane started coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 target price on the stock. Guggenheim reiterated a "buy" rating and set a $850.00 target price on shares of Spotify Technology in a research report on Wednesday, September 3rd. Finally, Barclays cut their target price on shares of Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $731.16.

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.

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