Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 407 Shares of Spotify Technology $SPOT

Key Points

• Empirical Wealth Management reduced its holdings in Spotify Technology by 47.0%, selling 407 shares, and now owns a total of 459 shares valued at approximately $352,000.
• Major analysts have set positive price targets for Spotify, with Deutsche Bank raising their target from $700 to $775, and multiple firms maintaining a "buy" rating.
• Spotify reported (−$0.42) EPS for its latest quarter, missing estimates but achieving a revenue of $4.94 billion, surpassing consensus expectations by a notable margin.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 47.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 459 shares of the company's stock after selling 407 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Spotify Technology were worth $352,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in SPOT. Tsfg LLC bought a new stake in Spotify Technology in the first quarter valued at about $28,000. Cornerstone Planning Group LLC grew 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 worth $29,000 after buying an additional 41 shares during the period. North Star Investment Management Corp. increased its stake in shares of Spotify Technology by 52.8% in the 1st quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after acquiring an additional 19 shares during the last quarter. Sound Income Strategies LLC raised its position 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 during the period. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology in the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

SPOT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Spotify Technology from $700.00 to $775.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Guggenheim reissued a "buy" rating and issued a $850.00 price target on shares of Spotify Technology in a report on Wednesday, September 3rd. Oppenheimer raised their price objective on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. Sanford C. Bernstein boosted their target price on Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on Spotify Technology from $740.00 to $805.00 and gave the stock an "overweight" rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $731.16.

Spotify Technology Price Performance

SPOT stock opened at $680.28 on Tuesday. The stock has a market capitalization of $139.26 billion, a P/E ratio of 165.12, a P/E/G ratio of 3.22 and a beta of 1.67. Spotify Technology has a fifty-two week low of $362.31 and a fifty-two week high of $785.00. The business has a 50-day moving average of $695.42 and a 200-day moving average of $665.91.

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

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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