Spotify Technology $SPOT Shares Acquired by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC increased its shareholding in Spotify Technology by 39.8% during the first quarter, now owning 2,702 shares valued at approximately $1.49 million.
• Wall Street analysts have adjusted price targets for Spotify, with the average target now at $721.07, reflecting a consensus rating of "Moderate Buy".
• In its latest earnings report, Spotify reported a decline in earnings per share compared to the previous year, missing estimates but achieving revenues of $4.94 billion, which were above analyst expectations.

Integrated Wealth Concepts LLC raised its holdings in Spotify Technology (NYSE:SPOT - Free Report) by 39.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,702 shares of the company's stock after acquiring an additional 769 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Spotify Technology were worth $1,486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SPOT. Fiduciary Trust Co acquired a new stake in Spotify Technology in the 4th quarter valued at about $230,000. Ensign Peak Advisors Inc lifted its holdings in Spotify Technology by 136.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 22,021 shares of the company's stock valued at $9,852,000 after acquiring an additional 12,720 shares during the last quarter. Focus Partners Wealth lifted its holdings in Spotify Technology by 310.6% in the 4th quarter. Focus Partners Wealth now owns 7,543 shares of the company's stock valued at $3,375,000 after acquiring an additional 5,706 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC lifted its holdings in Spotify Technology by 72.7% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,863 shares of the company's stock valued at $833,000 after acquiring an additional 784 shares during the last quarter. Finally, Numerai GP LLC lifted its holdings in Spotify Technology by 27.1% in the 4th quarter. Numerai GP LLC now owns 2,995 shares of the company's stock valued at $1,340,000 after acquiring an additional 638 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research analyst reports. Benchmark cut their price target on shares of Spotify Technology from $840.00 to $800.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. Citigroup boosted their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a "neutral" rating in a report on Tuesday. Barclays cut their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. KeyCorp cut their price objective on Spotify Technology from $860.00 to $830.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, Morgan Stanley cut their price objective on Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $721.07.

Spotify Technology Price Performance

Shares of SPOT opened at $719.89 on Wednesday. The company has a market capitalization of $147.37 billion, a price-to-earnings ratio of 174.73, a P/E/G ratio of 3.09 and a beta of 1.71. Spotify Technology has a fifty-two week low of $324.16 and a fifty-two week high of $785.00. The business's 50-day moving average is $694.75 and its 200-day moving average is $647.11.

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

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.