Carnegie Investment Counsel Boosts Position in Spotify Technology $SPOT

Carnegie Investment Counsel boosted its position in shares of Spotify Technology (NYSE:SPOT) by 5.6% in the second quarter, Holdings Channel reports. The fund 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 SEC.

Other hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC increased its position in Spotify Technology by 156.3% during the second quarter. Sound Income Strategies LLC now owns 41 shares of the company’s stock valued at $31,000 after acquiring an additional 25 shares during the last quarter. GFG Capital LLC purchased a new stake in Spotify Technology in the second quarter worth about $33,000. Cornerstone Planning Group LLC increased its position in Spotify Technology by 512.5% in the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after buying an additional 41 shares in the last quarter. Tsfg LLC purchased a new stake in Spotify Technology in the first quarter worth about $28,000. Finally, Avion Wealth purchased a new stake in Spotify Technology in the second quarter worth about $38,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPOT shares. Benchmark reduced their price target on Spotify Technology from $840.00 to $800.00 and set a “buy” rating for the company in a research report on Wednesday, July 30th. DZ Bank upgraded Spotify Technology from a “sell” rating to a “hold” rating and set a $652.00 price target for the company in a research report on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $740.00 to $805.00 and gave the stock an “overweight” rating in a research report on Monday, September 29th. Citigroup upped their price target on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 9th. Finally, Argus started coverage on Spotify Technology in a research report on Monday, September 29th. They issued a “buy” rating and a $845.00 price target for the company. One 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 stock. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and an average price target of $731.16.

Spotify Technology Stock Down 4.3%

NYSE SPOT opened at $645.22 on Monday. The firm has a market cap of $132.08 billion, a price-to-earnings ratio of 156.61, a price-to-earnings-growth ratio of 3.08 and a beta of 1.67. The business has a 50-day moving average price of $696.53 and a 200-day moving average price of $677.57. Spotify Technology has a twelve month low of $376.00 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings data on Tuesday, July 29th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.00 by ($2.42). The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $4.29 billion. Spotify Technology had a return on equity of 13.67% and a net margin of 4.76%.The business’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. Research analysts expect 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.