Charles Schwab Investment Management Inc. Cuts Position in Spotify Technology $SPOT

Charles Schwab Investment Management Inc. lessened its position in Spotify Technology (NYSE:SPOT) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,868 shares of the company’s stock after selling 1,561 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.07% of Spotify Technology worth $107,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC raised its holdings in shares of Spotify Technology by 156.3% during 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 in the last quarter. GFG Capital LLC bought a new position in Spotify Technology during the second quarter valued at approximately $33,000. Truvestments Capital LLC purchased a new position in shares of Spotify Technology during the first quarter worth approximately $34,000. Avion Wealth bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $38,000. Finally, SouthState Corp purchased a new stake in shares of Spotify Technology in the 1st quarter valued at $39,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BNP Paribas Exane began coverage on shares of Spotify Technology in a research report on Tuesday, September 16th. They issued an “outperform” rating and a $900.00 target price on the stock. Citigroup lifted their price objective on Spotify Technology from $715.00 to $750.00 and gave the stock a “neutral” rating in a report on Tuesday, September 9th. Rosenblatt Securities dropped their target price on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Argus assumed coverage on Spotify Technology in a research report on Monday, September 29th. They set a “buy” rating and a $845.00 price target on the stock. Finally, BNP Paribas raised Spotify Technology to a “strong-buy” rating in a research note on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $758.86.

Spotify Technology Price Performance

NYSE SPOT opened at $599.11 on Friday. Spotify Technology has a 1 year low of $443.21 and a 1 year high of $785.00. The stock has a market capitalization of $123.35 billion, a PE ratio of 94.20, a PEG ratio of 1.96 and a beta of 1.67. The business’s 50-day moving average is $657.55 and its 200 day moving average is $681.75.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, November 4th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $1.96. The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $4.23 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.Spotify Technology’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.45 EPS. Spotify Technology has set its Q4 2025 guidance at EPS. As a group, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current 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.