Carnegie Investment Counsel Purchases 42 Shares of Spotify Technology $SPOT

Carnegie Investment Counsel lifted its position in shares of Spotify Technology (NYSE:SPOT) by 5.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 792 shares of the company’s stock after purchasing an additional 42 shares during the quarter. Carnegie Investment Counsel’s holdings in Spotify Technology were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Avion Wealth bought a new stake in shares of Spotify Technology during the second quarter valued at approximately $38,000. First Citizens Bank & Trust Co. boosted its position in shares of Spotify Technology by 7.8% during the second quarter. First Citizens Bank & Trust Co. now owns 1,077 shares of the company’s stock valued at $826,000 after purchasing an additional 78 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Spotify Technology by 3.6% during the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 19,080 shares of the company’s stock valued at $14,641,000 after purchasing an additional 671 shares in the last quarter. LifeWealth Investments LLC boosted its position in shares of Spotify Technology by 17.6% during the second quarter. LifeWealth Investments LLC now owns 555 shares of the company’s stock valued at $426,000 after purchasing an additional 83 shares in the last quarter. Finally, Ethic Inc. boosted its position in shares of Spotify Technology by 5.3% during the second quarter. Ethic Inc. now owns 21,826 shares of the company’s stock valued at $16,863,000 after purchasing an additional 1,090 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SPOT has been the topic of several analyst reports. DZ Bank raised Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 target price on the stock in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on Spotify Technology from $700.00 to $775.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. boosted their target price on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. UBS Group dropped their target price on Spotify Technology from $895.00 to $850.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Finally, Wells Fargo & Company boosted their target price on Spotify Technology from $740.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Price Performance

SPOT stock opened at $645.22 on Monday. Spotify Technology has a 1-year low of $376.00 and a 1-year high of $785.00. The business has a fifty day moving average price of $696.53 and a 200-day moving average price of $677.57. The stock has a market capitalization of $132.08 billion, a P/E ratio of 156.61, a P/E/G ratio of 3.08 and a beta of 1.67.

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

Spotify Technology 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.