Drive Wealth Management LLC Invests $379,000 in Spotify Technology $SPOT

Key Points

• Drive Wealth Management LLC has invested approximately $379,000 in Spotify Technology by acquiring 494 shares during the second quarter.
• Analyst ratings for Spotify show a consensus of "Moderate Buy" with a target price averaging $731.16, while some firms have set target prices as high as $850.00.
• In the latest earnings report, Spotify posted a loss of ($0.42) EPS, missing expectations but achieving a revenue of $4.94 billion, exceeding analysts' forecasts.

Drive Wealth Management LLC bought a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 494 shares of the company's stock, valued at approximately $379,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SPOT. Tsfg LLC acquired a new stake in Spotify Technology in the 1st quarter valued at about $28,000. Cornerstone Planning Group LLC grew its position in shares of 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 in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Spotify Technology by 156.3% in 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 during the last quarter. GFG Capital LLC purchased a new position in Spotify Technology during the second quarter worth approximately $33,000. Finally, Truvestments Capital LLC purchased a new position in Spotify Technology during the first quarter worth approximately $34,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SPOT. Guggenheim restated a "buy" rating and issued a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. Weiss Ratings restated a "hold (c-)" rating on shares of Spotify Technology in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price target for the company in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $740.00 to $805.00 and gave the company an "overweight" rating in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $731.16.

Spotify Technology Stock Up 0.5%

NYSE:SPOT 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 company has a fifty day simple moving average of $699.14 and a two-hundred day simple moving average of $673.60. The company has a market cap of $138.19 billion, a price-to-earnings ratio of 163.84, a price-to-earnings-growth ratio of 3.20 and a beta of 1.67.

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

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.

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