Assetmark Inc. Has $20.05 Million Position in Spotify Technology $SPOT

Assetmark Inc. grew its position in Spotify Technology (NYSE:SPOT) by 6.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,724 shares of the company’s stock after purchasing an additional 1,770 shares during the period. Assetmark Inc.’s holdings in Spotify Technology were worth $20,049,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Sage Mountain Advisors LLC increased its holdings in Spotify Technology by 6.3% during the 3rd quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock valued at $201,000 after purchasing an additional 17 shares in the last quarter. Cloud Capital Management LLC grew its holdings in Spotify Technology by 4.8% during the 2nd quarter. Cloud Capital Management LLC now owns 392 shares of the company’s stock worth $301,000 after acquiring an additional 18 shares during the last quarter. Fullerton Fund Management Co Ltd. increased its position in Spotify Technology by 7.0% in the 2nd quarter. Fullerton Fund Management Co Ltd. now owns 276 shares of the company’s stock valued at $212,000 after acquiring an additional 18 shares in the last quarter. Huntington National Bank raised its stake in shares of Spotify Technology by 3.9% in the second quarter. Huntington National Bank now owns 506 shares of the company’s stock worth $388,000 after acquiring an additional 19 shares during the last quarter. Finally, Granite Group Advisors LLC grew its stake in shares of Spotify Technology by 2.6% during the third quarter. Granite Group Advisors LLC now owns 756 shares of the company’s stock valued at $528,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology News Summary

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

• Positive Sentiment: Quarterly beat and bullish outlook — Spotify reported a sizable EPS beat and revenue above consensus, and issued upbeat guidance that eased prior margin/user-growth concerns; this is the primary driver of the rally. Spotify Shares Rally on Strong Outlook
• Positive Sentiment: Analyst reaffirmations — Bernstein (Ian Moore) reiterated an Outperform and maintained a $650 target, citing Spotify’s strong performance, which supports further upside. Analyst Confidence Piece
• Neutral Sentiment: AI-driven engineering shift — CEO comments that top engineers “haven’t written a single line of code” because AI now generates code highlight productivity gains but raise questions about quality control, governance and long-term execution — a mixed catalyst. Spotify AI Coding Story
• Neutral Sentiment: Mixed analyst action — while some firms reaffirm/raise views, others are trimming targets; these offsetting revisions produce headline volatility but no consensus sell signal. (See analyst notes below.) JP Morgan PT Revision
• Negative Sentiment: Price-target cuts from some shops — Cantor Fitzgerald and Guggenheim both trimmed targets (Cantor to $525; Guggenheim to $720), reflecting remaining concerns about margins and multiple—these cap upside and can weigh on sentiment. Cantor Fitzgerald Cuts PT

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. Phillip Securities upgraded Spotify Technology from a “hold” rating to a “moderate buy” rating in a research report on Monday, November 10th. Benchmark decreased their price target on Spotify Technology from $860.00 to $760.00 and set a “buy” rating on the stock in a report on Friday, January 16th. DZ Bank upgraded Spotify Technology from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald cut their target price on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Citigroup raised shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 target price on the stock in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average target price of $706.42.

Spotify Technology Price Performance

Shares of SPOT stock opened at $458.40 on Friday. The stock has a market cap of $94.35 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 1.08 and a beta of 1.66. The stock has a 50-day moving average of $533.70 and a 200-day moving average of $620.70. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. During the same quarter last year, the firm earned $1.88 EPS. Spotify Technology’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current year.

About Spotify Technology

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.