Moran Wealth Management LLC Sells 463 Shares of Spotify Technology $SPOT

Moran Wealth Management LLC reduced its position in Spotify Technology (NYSE:SPOT) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 36,580 shares of the company’s stock after selling 463 shares during the period. Spotify Technology makes up about 0.9% of Moran Wealth Management LLC’s portfolio, making the stock its 21st largest position. Moran Wealth Management LLC’s holdings in Spotify Technology were worth $28,069,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SPOT. Joel Isaacson & Co. LLC raised its stake in Spotify Technology by 1.0% in the second quarter. Joel Isaacson & Co. LLC now owns 1,551 shares of the company’s stock valued at $1,190,000 after buying an additional 15 shares during the period. Ignite Planners LLC raised its stake in Spotify Technology by 2.4% in the second quarter. Ignite Planners LLC now owns 637 shares of the company’s stock valued at $489,000 after buying an additional 15 shares during the period. Hartford Investment Management Co. increased its holdings in shares of Spotify Technology by 1.1% during the 1st quarter. Hartford Investment Management Co. now owns 1,449 shares of the company’s stock worth $797,000 after acquiring an additional 16 shares during the last quarter. Stonekeep Investments LLC increased its holdings in shares of Spotify Technology by 2.1% during the 2nd quarter. Stonekeep Investments LLC now owns 773 shares of the company’s stock worth $593,000 after acquiring an additional 16 shares during the last quarter. Finally, Moody National Bank Trust Division increased its holdings in shares of Spotify Technology by 0.5% during the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company’s stock worth $2,249,000 after acquiring an additional 16 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on SPOT shares. The Goldman Sachs Group cut shares of Spotify Technology from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $765.00 to $770.00 in a research report on Tuesday, September 30th. KeyCorp cut their target price on shares of Spotify Technology from $860.00 to $830.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Evercore ISI raised their target price on shares of Spotify Technology from $650.00 to $750.00 and gave the stock an “outperform” rating in a research note on Monday, June 16th. Cantor Fitzgerald increased 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. Finally, Oppenheimer increased their price target on shares of Spotify Technology from $750.00 to $825.00 and gave the company an “outperform” rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Up 0.9%

Shares of Spotify Technology stock opened at $691.38 on Tuesday. Spotify Technology has a twelve month low of $364.26 and a twelve month high of $785.00. The company has a 50-day simple moving average of $699.82 and a two-hundred day simple moving average of $669.16. The stock has a market capitalization of $141.53 billion, a price-to-earnings ratio of 167.81, a price-to-earnings-growth ratio of 3.23 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last issued 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 return on equity of 13.67% and a net margin of 4.76%.The business had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm earned $1.33 EPS. Spotify Technology’s revenue for the quarter was up 10.1% compared to the same quarter last year. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Spotify Technology will post 10.3 earnings per share 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.