Wilmington Savings Fund Society FSB Cuts Stock Position in Spotify Technology $SPOT

Wilmington Savings Fund Society FSB lessened its position in Spotify Technology (NYSE:SPOT) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,060 shares of the company’s stock after selling 490 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Spotify Technology were worth $1,581,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SPOT. Tsfg LLC purchased a new stake in shares of Spotify Technology in the 1st quarter valued at $28,000. Cornerstone Planning Group LLC raised its holdings in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the period. Sound Income Strategies LLC increased 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 worth $31,000 after purchasing an additional 25 shares during the period. GFG Capital LLC purchased a new stake in Spotify Technology during the 2nd quarter worth about $33,000. Finally, Truvestments Capital LLC purchased a new stake in Spotify Technology during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Phillip Securities upgraded Spotify Technology from a “moderate sell” rating to a “hold” rating in a report on Monday, August 4th. Argus assumed coverage on Spotify Technology in a report on Monday, September 29th. They set a “buy” rating and a $845.00 price target on the stock. Canaccord Genuity Group upped their price target on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, July 2nd. Rosenblatt Securities restated a “neutral” rating and set a $679.00 price target on shares of Spotify Technology in a report on Wednesday, October 1st. Finally, Oppenheimer upped their price target on Spotify Technology from $750.00 to $825.00 and gave the stock an “outperform” rating in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $731.16.

Spotify Technology Price Performance

Shares of SPOT opened at $672.27 on Thursday. Spotify Technology has a 1-year low of $366.65 and a 1-year high of $785.00. The stock has a market cap of $137.62 billion, a PE ratio of 163.17, a price-to-earnings-growth ratio of 3.22 and a beta of 1.67. The firm has a fifty day moving average price of $700.64 and a 200 day moving average price of $669.28.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $4.29 billion. During the same period last year, the firm earned $1.33 earnings per share. Spotify Technology’s 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 analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company 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.