Spotify Technology $SPOT Shares Sold by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. reduced its stake in Spotify Technology by 13.8% in the first quarter, selling 658 shares and holding a total of 4,113 shares valued at approximately $2.26 million.
• Several large investors increased their positions in Spotify, with Jennison Associates LLC significantly boosting its stake by 42.3%, owning over 4.2 million shares worth over $2.3 billion.
• Spotify's latest earnings report revealed a loss of ($0.42) EPS, missing estimates, although revenue was up 10.1% year-over-year, totaling $4.94 billion.

Freedom Investment Management Inc. reduced its position in Spotify Technology (NYSE:SPOT - Free Report) by 13.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,113 shares of the company's stock after selling 658 shares during the quarter. Freedom Investment Management Inc.'s holdings in Spotify Technology were worth $2,262,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SPOT. Dimensional Fund Advisors LP grew its position in Spotify Technology by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 203,766 shares of the company's stock valued at $91,170,000 after acquiring an additional 2,719 shares in the last quarter. IHT Wealth Management LLC acquired a new position in shares of Spotify Technology during the fourth quarter worth about $208,000. Hsbc Holdings PLC grew its position in shares of Spotify Technology by 182.5% during the fourth quarter. Hsbc Holdings PLC now owns 72,280 shares of the company's stock worth $32,508,000 after buying an additional 46,692 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Spotify Technology during the fourth quarter worth about $310,000. Finally, MGO One Seven LLC grew its position in shares of Spotify Technology by 7.3% during the fourth quarter. MGO One Seven LLC now owns 843 shares of the company's stock worth $377,000 after buying an additional 57 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SPOT shares. DZ Bank upgraded Spotify Technology from a "sell" rating to a "hold" rating and set a $652.00 target price for the company in a research note on Wednesday, July 30th. Oppenheimer boosted their target price on Spotify Technology from $750.00 to $825.00 and gave the stock an "outperform" rating in a research note on Monday, August 18th. The Goldman Sachs Group boosted their price objective on Spotify Technology from $680.00 to $775.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Morgan Stanley reduced 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. Finally, Loop Capital boosted their target price on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $720.07.

Spotify Technology Stock Performance

NYSE:SPOT traded down $5.20 during trading hours on Thursday, hitting $687.79. The company's stock had a trading volume of 1,015,629 shares, compared to its average volume of 2,274,498. The business's 50-day moving average is $702.44 and its two-hundred day moving average is $642.99. The company has a market capitalization of $140.80 billion, a PE ratio of 166.94, a PEG ratio of 3.00 and a beta of 1.69. Spotify Technology has a 52-week low of $319.07 and a 52-week high of $785.00.

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

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.