Spotify Technology $SPOT Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services trimmed its stake in Spotify Technology (NYSE:SPOT) by 35.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,446 shares of the company’s stock after selling 2,410 shares during the period. Oak Harvest Investment Services’ holdings in Spotify Technology were worth $3,412,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Sound Income Strategies LLC lifted its stake in Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock worth $31,000 after purchasing an additional 25 shares in the last quarter. GFG Capital LLC purchased a new stake in shares of Spotify Technology in the 2nd quarter valued at $33,000. Avion Wealth acquired a new position in Spotify Technology during the 2nd quarter worth about $38,000. Truvestments Capital LLC purchased a new position in Spotify Technology during the 1st quarter valued at about $34,000. Finally, Putney Financial Group LLC grew its position in Spotify Technology by 244.4% in the 2nd quarter. Putney Financial Group LLC now owns 62 shares of the company’s stock valued at $48,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 0.4%

Shares of SPOT opened at $645.05 on Friday. The stock’s 50 day moving average is $680.69 and its two-hundred day moving average is $683.31. 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 $132.81 billion, a PE ratio of 101.42, a P/E/G ratio of 2.14 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

SPOT has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Spotify Technology in a research note on Wednesday, October 8th. BNP Paribas raised shares of Spotify Technology to a “strong-buy” rating in a research report on Tuesday, September 16th. Pivotal Research cut their price objective on Spotify Technology from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Cantor Fitzgerald boosted their target price on Spotify Technology from $640.00 to $675.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Finally, Benchmark upped their price target on Spotify Technology from $800.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $758.86.

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.