West Tower Group LLC Sells 300 Shares of Spotify Technology $SPOT

West Tower Group LLC lessened its holdings in Spotify Technology (NYSE:SPOT) by 50.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300 shares of the company’s stock after selling 300 shares during the quarter. West Tower Group LLC’s holdings in Spotify Technology were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Tsfg LLC acquired a new stake in Spotify Technology in the first quarter valued at about $28,000. Cornerstone Planning Group LLC raised its stake in Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 41 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Spotify Technology by 156.3% in the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after acquiring an additional 25 shares during the last quarter. GFG Capital LLC acquired a new stake in shares of Spotify Technology in the 2nd quarter valued at approximately $33,000. Finally, Truvestments Capital LLC bought a new stake in shares of Spotify Technology during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Up 1.0%

Shares of NYSE:SPOT opened at $671.04 on Monday. The firm has a market cap of $137.37 billion, a P/E ratio of 162.87, a P/E/G ratio of 3.20 and a beta of 1.67. Spotify Technology has a 12-month low of $369.42 and a 12-month high of $785.00. The business has a fifty day simple moving average of $699.44 and a 200 day simple moving average of $672.40.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results 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 company had revenue of $4.94 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period in the previous year, the company posted $1.33 EPS. The company’s quarterly revenue was up 10.1% on a year-over-year basis. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America increased their price objective on shares of Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, June 26th. BNP Paribas Exane assumed coverage on Spotify Technology in a research note on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target for the company. The Goldman Sachs Group downgraded Spotify Technology from a “buy” rating to a “neutral” rating and raised their price objective for the company from $765.00 to $770.00 in a report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Spotify Technology in a report on Wednesday, October 8th. Finally, UBS Group dropped their target price on Spotify Technology from $895.00 to $850.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $731.16.

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.