Secure Asset Management LLC Invests $2.24 Million in Spotify Technology $SPOT

Key Points

• Secure Asset Management LLC has acquired a new stake in Spotify Technology, purchasing 2,923 shares valued at approximately $2,243,000 during the second quarter.
• Spotify reported a loss of $0.42 EPS in its latest earnings announcement, missing the consensus estimate significantly, despite achieving $4.94 billion in revenue.
• Research firms have shown optimism with upgraded price targets for Spotify, with Pivotal Research raising its target from $800 to $900 and Bank of America also increasing its target to $900.

Secure Asset Management LLC acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,923 shares of the company's stock, valued at approximately $2,243,000.

Several other institutional investors also recently modified their holdings of the company. Baader Bank Aktiengesellschaft increased its stake in shares of Spotify Technology by 22.6% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 6,235 shares of the company's stock worth $4,784,000 after purchasing an additional 1,150 shares during the last quarter. Stonekeep Investments LLC increased its stake in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company's stock worth $593,000 after purchasing an additional 16 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Spotify Technology by 104.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 31,429 shares of the company's stock worth $24,117,000 after purchasing an additional 16,071 shares during the last quarter. Focus Financial Network Inc. increased its stake in shares of Spotify Technology by 11.3% during the 2nd quarter. Focus Financial Network Inc. now owns 642 shares of the company's stock worth $493,000 after purchasing an additional 65 shares during the last quarter. Finally, Sivia Capital Partners LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth about $312,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Trading Up 0.3%

Shares of NYSE:SPOT traded up $2.36 on Monday, reaching $737.28. 988,711 shares of the company's stock were exchanged, compared to its average volume of 1,264,950. The company has a fifty day moving average of $693.62 and a 200-day moving average of $655.70. Spotify Technology has a twelve month low of $362.31 and a twelve month high of $785.00. The company has a market capitalization of $150.93 billion, a price-to-earnings ratio of 178.95, a PEG ratio of 3.16 and a beta of 1.71.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced 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 return on equity of 13.67% and a net margin of 4.76%.The business had revenue of $4.94 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company earned $1.33 EPS. 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. As a group, equities research analysts forecast that Spotify Technology will post 10.3 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DZ Bank upgraded shares of Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 price objective on the stock in a research note on Wednesday, July 30th. Evercore ISI upped their price target on shares of Spotify Technology from $650.00 to $750.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Pivotal Research upped their price target on shares of Spotify Technology from $800.00 to $900.00 and gave the company a "buy" rating in a research note on Tuesday, June 17th. BNP Paribas Exane began 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, The Goldman Sachs Group boosted their price objective on Spotify Technology from $680.00 to $775.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $726.84.

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.