Abacus FCF Advisors LLC Sells 825 Shares of Spotify Technology $SPOT

Abacus FCF Advisors LLC reduced its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 2.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,203 shares of the company's stock after selling 825 shares during the period. Spotify Technology comprises approximately 3.2% of Abacus FCF Advisors LLC's portfolio, making the stock its 2nd biggest position. Abacus FCF Advisors LLC's holdings in Spotify Technology were worth $23,176,000 as of its most recent SEC filing.

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A number of other hedge funds have also bought and sold shares of SPOT. Farther Finance Advisors LLC lifted its holdings in shares of Spotify Technology by 14.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,746 shares of the company's stock worth $2,107,000 after acquiring an additional 355 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Spotify Technology by 3.9% in the second quarter. SeaCrest Wealth Management LLC now owns 2,652 shares of the company's stock worth $2,035,000 after purchasing an additional 100 shares during the last quarter. Oliver Lagore Vanvalin Investment Group bought a new position in shares of Spotify Technology in the second quarter worth about $56,000. Moody National Bank Trust Division boosted its holdings in Spotify Technology by 0.5% in the 2nd quarter. Moody National Bank Trust Division now owns 2,931 shares of the company's stock worth $2,249,000 after buying an additional 16 shares during the period. Finally, Andrew Hill Investment Advisors Inc. grew its holdings in Spotify Technology by 91.2% during the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 4,454 shares of the company's stock valued at $3,418,000 after buying an additional 2,125 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPOT shares. UBS Group cut their price objective on shares of Spotify Technology from $895.00 to $850.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Spotify Technology from $730.00 to $780.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup lifted 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. Sanford C. Bernstein raised their price target on shares of Spotify Technology from $825.00 to $840.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Bank of America boosted their price target on Spotify Technology from $700.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $726.84.

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Get Our Latest Stock Analysis on Spotify Technology

Spotify Technology Stock Performance

Spotify Technology stock opened at $735.19 on Friday. The firm has a market cap of $150.50 billion, a price-to-earnings ratio of 178.44, a PEG ratio of 3.16 and a beta of 1.71. Spotify Technology has a 52-week low of $362.00 and a 52-week high of $785.00. The firm has a 50 day moving average price of $693.21 and a two-hundred day moving average price of $653.48.

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Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results 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 company had revenue of $4.94 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Spotify Technology has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict 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.

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