Spotify Technology $SPOT Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lessened its position in Spotify Technology (NYSE:SPOT) by 25.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323 shares of the company’s stock after selling 112 shares during the period. Meridian Wealth Management LLC’s holdings in Spotify Technology were worth $248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock worth $957,494,000 after purchasing an additional 1,601,653 shares during the last quarter. Northern Trust Corp raised its position in shares of Spotify Technology by 10.3% in the 1st quarter. Northern Trust Corp now owns 1,574,482 shares of the company’s stock worth $866,012,000 after buying an additional 147,580 shares during the period. Geode Capital Management LLC boosted its holdings in Spotify Technology by 3.3% in the second quarter. Geode Capital Management LLC now owns 1,568,502 shares of the company’s stock valued at $1,192,730,000 after acquiring an additional 49,377 shares during the last quarter. Forsta AP Fonden grew its position in Spotify Technology by 12.6% during the first quarter. Forsta AP Fonden now owns 1,559,652 shares of the company’s stock valued at $857,855,000 after acquiring an additional 174,700 shares during the period. Finally, Invesco Ltd. grew its position in Spotify Technology by 3.7% during the first quarter. Invesco Ltd. now owns 1,240,028 shares of the company’s stock valued at $682,053,000 after acquiring an additional 44,340 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.5%

NYSE SPOT opened at $637.37 on Wednesday. The company’s fifty day simple moving average is $676.02 and its 200-day simple moving average is $685.04. The stock has a market cap of $131.23 billion, a P/E ratio of 100.22, a PEG ratio of 2.12 and a beta of 1.67. Spotify Technology has a 52 week low of $443.21 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $1.96. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $4.23 billion. Spotify Technology had a net margin of 8.46% and a return on equity of 21.68%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. On average, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several research analyst reports. Oppenheimer lifted their price objective on Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a research note on Monday, August 18th. UBS Group reduced their price target on shares of Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Morgan Stanley cut 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. Finally, Pivotal Research decreased their price target on shares of Spotify Technology from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $758.86.

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.