TSP Weekly Tech Stock Update—June 7, 2025
This Week: SNOW hits new 52-wk high, CRWD new record high, Broadcom's upbeat AI semi outlook, Rubrik delivers robust FQ1 growth, GTLB earnings preview, Cantor likes HUBS, Goldman bullish on OS & more
Hello from Rob…
—Spotify (SPOT, $712.26) shares on Thursday hit a new all-time high of $717.87. The stock has rallied 41.5% since I called out its outperformance in early April.
In Q1, Fidelity was the biggest buyer of Spotify, boosting its position by 149% with the purchase of 3.043 million shares. The firm now owns 5.085 million shares, making it a top 5 holder. Jennison Associates, the #7 holder, added 1.262 million shares, increasing its position by 42% to 4.247 million shares.
Jefferies this week raised its Spotify price target to $845 from $730, noting a number of catalysts—including additional price increases (especially on the audio books bundle), better ad monetization capabilities and the Superfan tier launch set to boost ARPU.
*Inside This Issue: A Relief Rally For MongoDB Stock
—Paid subscribers will receive the June 2025 PDF of Tech-Stock Prospector (TSP #280) via email on Tuesday, June 10.
—Paid subscribers have access to the TSP Market Overview and TSP Portfolio Updates sections inside this issue.