WESPAC Advisors SoCal LLC Invests $1.09 Million in Spotify Technology $SPOT

Key Points

• WESPAC Advisors SoCal LLC invested approximately $1.09 million in Spotify Technology, acquiring 1,423 shares in the second quarter.
• Spotify reported quarterly earnings of ($0.42) per share, missing estimates significantly, but its revenue grew 10.1% year-over-year to $4.94 billion.
• Several analysts have recently upgraded Spotify's target price, with Bank of America raising it from $700 to $900, while the average target price now stands at $731.16.

WESPAC Advisors SoCal LLC purchased a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,423 shares of the company's stock, valued at approximately $1,092,000.

Several other institutional investors have also modified their holdings of SPOT. GAMMA Investing LLC grew its position in shares of Spotify Technology by 38.1% during the first quarter. GAMMA Investing LLC now owns 1,305 shares of the company's stock worth $718,000 after acquiring an additional 360 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Spotify Technology by 238.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,441 shares of the company's stock worth $13,993,000 after acquiring an additional 17,932 shares during the last quarter. QRG Capital Management Inc. grew its position in Spotify Technology by 36.3% in the 1st quarter. QRG Capital Management Inc. now owns 710 shares of the company's stock valued at $391,000 after buying an additional 189 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Spotify Technology during the 1st quarter valued at about $5,520,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Spotify Technology during the 1st quarter worth about $2,351,000. Institutional investors own 84.09% of the company's stock.

Spotify Technology Trading Up 0.5%

NYSE:SPOT opened at $675.03 on Tuesday. Spotify Technology has a twelve month low of $376.00 and a twelve month high of $785.00. The company has a 50-day moving average of $699.14 and a 200-day moving average of $673.60. The firm has a market cap of $138.19 billion, a price-to-earnings ratio of 163.84, a price-to-earnings-growth ratio of 3.20 and a beta of 1.67.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share 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 business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the business posted $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. On average, research analysts forecast that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SPOT. Canaccord Genuity Group increased their price objective on shares of Spotify Technology from $775.00 to $850.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Spotify Technology in a report on Wednesday, October 8th. Bank of America boosted their target price on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. BNP Paribas Exane assumed coverage on Spotify Technology in a report on Tuesday, September 16th. They set an "outperform" rating and a $900.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an "overweight" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $731.16.

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.

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