IronOak Wealth LLC. Makes New Investment in Spotify Technology $SPOT

Key Points

• IronOak Wealth LLC has acquired a new position in Spotify Technology with a purchase of 666 shares worth approximately $511,000 during the second quarter.
• Spotify Technology reported ($0.42) EPS for the last quarter, significantly missing the consensus estimate of $2.00, but achieving revenue of $4.94 billion, surpassing analyst expectations.
• Analyst ratings for Spotify show a current average rating of "Moderate Buy" with a price target of around $726.84; notable analysts have issued buy ratings with varied target prices.

IronOak Wealth LLC. acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 666 shares of the company's stock, valued at approximately $511,000.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in shares of Spotify Technology by 1,151.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company's stock worth $957,494,000 after acquiring an additional 1,601,653 shares in the last quarter. Jennison Associates LLC increased its holdings in Spotify Technology by 42.3% during the 1st quarter. Jennison Associates LLC now owns 4,247,940 shares of the company's stock worth $2,336,494,000 after purchasing an additional 1,262,614 shares during the period. GAMMA Investing LLC increased its holdings in Spotify Technology by 75,856.5% during the 1st quarter. GAMMA Investing LLC now owns 717,789 shares of the company's stock worth $394,805,000 after purchasing an additional 716,844 shares during the period. Nuveen LLC acquired a new stake in Spotify Technology in the 1st quarter valued at about $383,139,000. Finally, Axiom Investors LLC DE boosted its stake in shares of Spotify Technology by 216.8% in the 1st quarter. Axiom Investors LLC DE now owns 719,682 shares of the company's stock valued at $395,847,000 after buying an additional 492,504 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. Morgan Stanley reduced 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. Wells Fargo & Company raised their price target on Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. Oppenheimer raised their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. Benchmark dropped their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating on the stock in a research note on Wednesday, July 30th. Finally, Guggenheim restated a "buy" rating and issued a $850.00 target price on shares of Spotify Technology in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $726.84.

Spotify Technology Trading Up 0.3%

Shares of Spotify Technology stock traded up $2.36 during trading hours on Monday, hitting $737.28. 988,711 shares of the company were exchanged, compared to its average volume of 1,264,950. The business has a 50-day moving average of $693.62 and a 200-day moving average of $655.70. Spotify Technology has a 1 year low of $362.31 and a 1 year high of $785.00. The stock has a market capitalization of $150.93 billion, a price-to-earnings ratio of 178.95, a P/E/G ratio of 3.16 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data 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 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 analyst estimates of $4.29 billion. During the same period in the prior year, the firm posted $1.33 earnings per share. The business's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

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.