Simplicity Wealth LLC Acquires Shares of 1,756 Spotify Technology $SPOT

Simplicity Wealth LLC bought a new position in Spotify Technology (NYSE:SPOT) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,756 shares of the company’s stock, valued at approximately $1,348,000.

A number of other institutional investors have also recently made changes to their positions in the business. Tsfg LLC purchased a new stake in Spotify Technology during the first quarter valued at approximately $28,000. Cornerstone Planning Group LLC increased its position in shares of Spotify Technology by 512.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Spotify Technology by 52.8% during the 1st 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 during the last quarter. Sound Income Strategies LLC raised its holdings in Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares during the period. Finally, Truvestments Capital LLC bought a new stake in Spotify Technology in the first quarter worth $34,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of a number of analyst reports. Evercore ISI boosted their price objective on shares of Spotify Technology from $650.00 to $750.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. Cantor Fitzgerald upped their price target on shares of Spotify Technology from $610.00 to $640.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. Citigroup raised their price objective on shares of Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. Oppenheimer boosted their target price on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research report on Monday, August 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Spotify Technology in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $680.28 on Tuesday. The firm’s 50 day simple moving average is $695.42 and its 200-day simple moving average is $665.91. Spotify Technology has a one year low of $362.31 and a one year high of $785.00. The firm has a market cap of $139.26 billion, a PE ratio of 165.12, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. Equities research analysts predict that Spotify Technology will post 10.3 EPS 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.