TD Private Client Wealth LLC Raises Position in Spotify Technology $SPOT

Key Points

• TD Private Client Wealth LLC increased its stake in Spotify Technology by 5.1% in the second quarter, holding a total of 10,398 shares valued at approximately $7.98 million.
• Spotify reported earnings of ($0.42) EPS for the last quarter, missing analysts' expectations, while its revenue of $4.94 billion surpassed forecasts.
• Analysts have mixed ratings for Spotify, with price targets ranging from $715 to $850, while the stock currently has a Moderate Buy average rating.

TD Private Client Wealth LLC lifted its position in Spotify Technology (NYSE:SPOT - Free Report) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,398 shares of the company's stock after acquiring an additional 500 shares during the period. TD Private Client Wealth LLC's holdings in Spotify Technology were worth $7,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Tsfg LLC purchased a new position in Spotify Technology during the first quarter valued at $28,000. Copia Wealth Management bought a new stake in Spotify Technology during the fourth quarter worth about $29,000. Cornerstone Planning Group LLC grew its holdings in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the period. North Star Investment Management Corp. increased its stake in shares of Spotify Technology by 52.8% during the first quarter. North Star Investment Management Corp. now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Spotify Technology in the 1st quarter worth approximately $34,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 2.8%

Shares of SPOT stock opened at $717.57 on Wednesday. Spotify Technology has a 12 month low of $362.31 and a 12 month high of $785.00. The stock has a market cap of $146.89 billion, a P/E ratio of 174.17, a P/E/G ratio of 3.18 and a beta of 1.71. The company has a 50 day simple moving average of $693.76 and a two-hundred day simple moving average of $656.13.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The company's revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on SPOT shares. Barclays reduced their price objective on Spotify Technology from $800.00 to $750.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Morgan Stanley dropped their target price on shares of Spotify Technology from $850.00 to $800.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Sanford C. Bernstein raised their price target on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Citigroup upped their price target on Spotify Technology from $715.00 to $750.00 and gave the company a "neutral" rating in a report on Tuesday, September 9th. One 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $726.84.

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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