Freedom Investment Management Inc. Sells 99 Shares of Spotify Technology $SPOT

Freedom Investment Management Inc. lowered its position in Spotify Technology (NYSE:SPOT) by 2.4% during the 2nd quarter, Holdings Channel reports. The fund owned 4,014 shares of the company’s stock after selling 99 shares during the period. Freedom Investment Management Inc.’s holdings in Spotify Technology were worth $3,080,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ethic Inc. boosted its holdings in Spotify Technology by 5.3% in the second quarter. Ethic Inc. now owns 21,826 shares of the company’s stock worth $16,863,000 after acquiring an additional 1,090 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in Spotify Technology by 22.7% in the second quarter. Rehmann Capital Advisory Group now owns 487 shares of the company’s stock worth $374,000 after acquiring an additional 90 shares in the last quarter. Adams Diversified Equity Fund Inc. purchased a new stake in shares of Spotify Technology in the second quarter worth approximately $6,983,000. Brookstone Capital Management raised its stake in shares of Spotify Technology by 26.4% in the second quarter. Brookstone Capital Management now owns 1,646 shares of the company’s stock worth $1,263,000 after purchasing an additional 344 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Spotify Technology in the second quarter worth approximately $1,513,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Trading Down 2.1%

Shares of SPOT opened at $674.73 on Thursday. The company has a market capitalization of $138.12 billion, a price-to-earnings ratio of 163.77, a PEG ratio of 3.29 and a beta of 1.67. The stock has a 50 day moving average of $698.72 and a 200 day moving average of $673.71. Spotify Technology has a 12 month low of $376.00 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 earnings per share. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Spotify Technology will post 10.3 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays lowered their price objective on Spotify Technology from $800.00 to $750.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Canaccord Genuity Group increased their price objective on Spotify Technology from $775.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Morgan Stanley lowered their price objective on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Bank of America increased their price objective on Spotify Technology from $700.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Finally, Citigroup increased their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average price target of $731.16.

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.