Elevation Point Wealth Partners LLC Lowers Stock Holdings in Spotify Technology $SPOT

Elevation Point Wealth Partners LLC lowered its stake in Spotify Technology (NYSE:SPOT) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,491 shares of the company’s stock after selling 958 shares during the period. Spotify Technology makes up approximately 0.9% of Elevation Point Wealth Partners LLC’s portfolio, making the stock its 18th biggest holding. Elevation Point Wealth Partners LLC’s holdings in Spotify Technology were worth $11,887,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Baltimore Washington Financial Advisors Inc. lifted its stake in shares of Spotify Technology by 5.4% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 543 shares of the company’s stock worth $417,000 after acquiring an additional 28 shares during the period. GM Advisory Group LLC purchased a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $1,773,000. Quadrant Capital Group LLC boosted its position in Spotify Technology by 15.1% during the second quarter. Quadrant Capital Group LLC now owns 4,963 shares of the company’s stock worth $3,808,000 after purchasing an additional 652 shares in the last quarter. Vinva Investment Management Ltd boosted its position in shares of Spotify Technology by 8.8% in the 2nd quarter. Vinva Investment Management Ltd now owns 22,701 shares of the company’s stock worth $17,539,000 after buying an additional 1,836 shares in the last quarter. Finally, Choreo LLC lifted its holdings in shares of Spotify Technology by 19.6% in the second quarter. Choreo LLC now owns 8,821 shares of the company’s stock valued at $6,769,000 after purchasing an additional 1,447 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on SPOT. Argus started coverage on Spotify Technology in a research note on Monday, September 29th. They set a “buy” rating and a $845.00 price objective on the stock. Citigroup boosted their target price on shares of Spotify Technology from $715.00 to $750.00 and gave the company a “neutral” rating in a report on Tuesday, September 9th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $765.00 to $770.00 in a research note on Tuesday, September 30th. Finally, BNP Paribas Exane assumed coverage on Spotify Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $758.86.

Spotify Technology Trading Up 1.4%

NYSE:SPOT opened at $593.92 on Thursday. The firm’s fifty day simple moving average is $663.06 and its 200 day simple moving average is $682.51. Spotify Technology has a twelve month low of $443.21 and a twelve month high of $785.00. The firm has a market capitalization of $122.28 billion, a price-to-earnings ratio of 93.38, a PEG ratio of 1.93 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm earned $1.45 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Spotify Technology has set its Q4 2025 guidance at EPS. On average, analysts predict that Spotify Technology will post 10.3 earnings per share 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.