Freedom Investment Management Inc. Has $3.08 Million Position in Spotify Technology $SPOT

Freedom Investment Management Inc. lessened its position in Spotify Technology (NYSE:SPOT) by 2.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tsfg LLC bought a new stake in shares of Spotify Technology in the 1st quarter valued at about $28,000. Cornerstone Planning Group LLC grew its position in shares of Spotify Technology by 512.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Spotify Technology by 156.3% in the 2nd quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after buying an additional 25 shares during the last quarter. GFG Capital LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at about $33,000. Finally, Truvestments Capital LLC bought a new stake in shares of Spotify Technology in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SPOT shares. JPMorgan Chase & Co. upped their price target on Spotify Technology from $740.00 to $805.00 and gave the company an “overweight” rating in a research report on Monday, September 29th. BNP Paribas Exane started coverage on Spotify Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 price target on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Spotify Technology in a research report on Wednesday, October 8th. Bank of America upped their price target on Spotify Technology from $700.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, June 26th. Finally, Morgan Stanley reduced their price target on Spotify Technology from $850.00 to $800.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus target price of $731.16.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $674.73 on Thursday. Spotify Technology has a one year low of $376.00 and a one year high of $785.00. The stock’s 50-day moving average is $698.72 and its 200 day moving average is $673.71. The firm has a market cap of $138.12 billion, a price-to-earnings ratio of 163.77, a PEG ratio of 3.29 and a beta of 1.67.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, July 29th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of $2.00 by ($2.42). The business had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a net margin of 4.76% and a return on equity of 13.67%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Spotify Technology Company 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.