Moran Wealth Management LLC Has $28.07 Million Position in Spotify Technology $SPOT

Key Points

• Moran Wealth Management LLC reduced its holdings in Spotify Technology to 36,580 shares, valued at approximately $28.07 million, representing about 0.9% of their portfolio.
• Analysts have set new price targets for Spotify, with Wells Fargo raising their target to $750 and Bank of America increasing theirs to $900, indicating a potentially bullish outlook.
• Spotify's recent earnings report showed a net revenue of $4.94 billion, exceeding estimates, while its EPS was reported at ($0.42), missing analyst expectations by ($2.42).

Moran Wealth Management LLC lowered its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,580 shares of the company's stock after selling 463 shares during the quarter. Spotify Technology accounts for about 0.9% of Moran Wealth Management LLC's portfolio, making the stock its 21st biggest position. Moran Wealth Management LLC's holdings in Spotify Technology were worth $28,069,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Tsfg LLC bought a new stake in Spotify Technology during the 1st quarter worth approximately $28,000. Cornerstone Planning Group LLC boosted its holdings 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 buying an additional 41 shares during the period. North Star Investment Management Corp. boosted its holdings in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after buying an additional 19 shares during the period. Sound Income Strategies LLC boosted 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 buying an additional 25 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Spotify Technology in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on SPOT. Wells Fargo & Company boosted their price objective on shares of Spotify Technology from $740.00 to $750.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. BNP Paribas raised Spotify Technology to a "strong-buy" rating in a research note on Tuesday, September 16th. Cantor Fitzgerald lifted their price target on Spotify Technology from $610.00 to $640.00 and gave the company a "neutral" rating in a research note on Wednesday, June 18th. BNP Paribas Exane initiated coverage on Spotify Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 price objective for the company. Finally, Bank of America increased their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. 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 stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $731.16.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $691.38 on Tuesday. The stock has a market capitalization of $141.53 billion, a price-to-earnings ratio of 167.81, a PEG ratio of 3.23 and a beta of 1.67. The business has a 50-day moving average of $699.82 and a 200-day moving average of $669.16. Spotify Technology has a fifty-two week low of $364.26 and a fifty-two week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly 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 company had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company posted $1.33 earnings per share. The business'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, sell-side 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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