Merit Financial Group LLC Has $3.55 Million Position in Spotify Technology $SPOT

Key Points

• Merit Financial Group LLC increased its stake in Spotify Technology by 10.7%, owning 4,627 shares worth approximately $3.55 million as of the latest SEC filing.
• Several hedge funds have shown increased interest in Spotify, with Sound Income Strategies LLC lifting its stake by 156.3% and Cornerstone Planning Group LLC by 512.5% during recent quarters.
• Spotify's most recent earnings report indicated a quarterly revenue of $4.94 billion, surpassing estimates, yet the company reported an EPS of ($0.42), missing the consensus estimate by ($2.42).

Merit Financial Group LLC raised its position in Spotify Technology (NYSE:SPOT - Free Report) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,627 shares of the company's stock after acquiring an additional 447 shares during the quarter. Merit Financial Group LLC's holdings in Spotify Technology were worth $3,550,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC lifted its stake in shares of Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company's stock worth $31,000 after buying an additional 25 shares during the last quarter. Cornerstone Planning Group LLC lifted its stake 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 last quarter. Tsfg LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth about $28,000. North Star Investment Management Corp. lifted its stake 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 worth $30,000 after buying an additional 19 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research report on Monday, August 18th. BNP Paribas raised shares of Spotify Technology to a "strong-buy" rating in a research report on Tuesday, September 16th. Pivotal Research raised their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the stock a "buy" rating in a research report on Tuesday, June 17th. Bank of America raised their price target on shares of Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, KeyCorp lowered their price target on shares of Spotify Technology from $860.00 to $830.00 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 given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $731.16.

Spotify Technology Stock Down 0.1%

SPOT stock opened at $679.89 on Wednesday. Spotify Technology has a 12 month low of $364.26 and a 12 month high of $785.00. The firm has a market cap of $139.18 billion, a P/E ratio of 165.02, a P/E/G ratio of 3.22 and a beta of 1.67. The company's 50-day moving average price is $696.61 and its two-hundred day moving average price is $666.00.

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 period in the prior year, the business earned $1.33 earnings per share. Spotify Technology's quarterly revenue was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. Equities analysts predict 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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