Wealth Enhancement Advisory Services LLC Purchases 2,751 Shares of Spotify Technology $SPOT

Wealth Enhancement Advisory Services LLC lifted its position in shares of Spotify Technology (NYSE:SPOT – Free Report) by 34.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,843 shares of the company’s stock after purchasing an additional 2,751 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Spotify Technology were worth $7,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Knuff & Co LLC acquired a new position in Spotify Technology in the second quarter valued at approximately $27,000. Total Investment Management Inc. acquired a new stake in shares of Spotify Technology during the 2nd quarter worth approximately $29,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Spotify Technology in the 3rd quarter valued at $27,000. Sound Income Strategies LLC lifted its position in shares of Spotify Technology by 156.3% during the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after acquiring an additional 25 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Spotify Technology during the 2nd quarter valued at $33,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 2.8%

Shares of NYSE SPOT opened at $512.45 on Friday. The stock’s 50 day moving average price is $569.50 and its 200-day moving average price is $644.22. The company has a market capitalization of $105.51 billion, a PE ratio of 80.57, a PEG ratio of 0.97 and a beta of 1.66. Spotify Technology has a twelve month low of $475.01 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT – Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $1.96. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The firm had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the firm posted $1.45 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Trending Headlines about Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Goldman Sachs upgraded SPOT to Buy with a $700 price target, calling the recent selloff an attractive entry point ahead of results; that upgrade is a primary driver of the rally. Spotify Stock Rises After Buy Upgrade. Why Goldman Is Singing Its Praises.
• Positive Sentiment: Spotify rolled out an AI-driven “prompted playlist” for U.S. and Canadian Premium users that customizes playlists from natural-language prompts — a product improvement that may boost engagement and retention. Spotify launches AI-driven ‘prompted playlist’ for premium users in US, Canada
• Positive Sentiment: Spotify is also deploying other AI playlist tools and personalization features across markets — incremental product wins that support higher user engagement and upsell potential. Spotify Rolls Out AI-Driven Playlist Generator for U.S. and Canadian Premium Users
• Positive Sentiment: Reports that Spotify may let users sync audiobooks with physical books indicate new product expansion into audiobooks/reading-adjacent features — potential longer-term revenue diversification. Spotify might soon let you sync audiobooks with real books
• Neutral Sentiment: Tech press highlights how Spotify’s new playlist features differ from Apple Music — useful competitive context but not an immediate earnings driver. Spotify’s newest playlist feature is unlike anything on Apple Music
• Negative Sentiment: Analysts and commentators warn U.S. price hikes for Premium could test growth and raise churn risk, which is a near-term headwind for subscriber-led revenue. Spotify (SPOT) Valuation Check As New Premium Price Hikes Test Growth And Churn Concerns
• Negative Sentiment: Barclays issued a pessimistic forecast for SPOT, adding downside pressure and reminding investors valuation and execution risk remain. Barclays Issues Pessimistic Forecast for Spotify Technology (NYSE:SPOT) Stock Price
• Negative Sentiment: Commentators including Jim Cramer have flagged Spotify’s high P/E as a drag on the stock — valuation sensitivity means sentiment shifts can move the shares sharply. Jim Cramer says high price-to-earnings multiples are hurting Spotify stock

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPOT shares. Citizens Jmp assumed coverage on shares of Spotify Technology in a report on Wednesday, December 17th. They issued a “market outperform” rating and a $800.00 price target for the company. Benchmark cut their price objective on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Barclays cut their target price on Spotify Technology from $700.00 to $625.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Finally, UBS Group decreased their target price on shares of Spotify Technology from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $739.07.

Check Out Our Latest Research Report on SPOT

Spotify Technology Company Profile

(Free Report)

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

Further Reading

• Five stocks we like better than Spotify Technology
• How a Family Trust May Be Able To Help Preserve Your Wealth
• Do not delete, read immediately
• The $100 Trillion AI Story No One Is Telling You
• NEW LAW: Congress Approves Setup For Digital Dollar?
• A U.S. “birthright” claim worth trillions – activated quietly

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT – Free Report).