Abacus FCF Advisors LLC reduced its Spotify Technology position by 11.5% during the third quarter, selling 3,468 shares to hold 26,735 shares at quarter end. Spotify now represents 2.5% of Abacus FCF’s portfolio, ranking as its tenth largest holding. The remaining stake was valued at $18.66 million in the firm’s latest SEC filing.

Several other funds adjusted their Spotify allocations in the same period. Simplify Asset Management initiated a new position valued at $574,000. Albion Financial Group UT boosted its holdings by 80%, acquiring 20 additional shares. Annex Advisory Services increased its stake by 7.8% to 58,186 shares, while FFG Partners added 1,135 shares, a 7.4% rise. Ethic Inc. added 682 shares, a 3.1% increase. Institutional and hedge fund ownership of Spotify stands at 84.09%.

Research firms have largely maintained neutral to modestly positive views. Citigroup and Cantor Fitzgerald both reaffirmed their neutral ratings, while Weiss Ratings kept a hold (c+) stance. Wall Street Zen upgraded Spotify to a buy rating, and Pivotal Research maintained a buy recommendation. Among 34 tracked analysts, two rate the stock as Strong Buy, 23 as Buy and nine as Hold, resulting in an average Moderate Buy consensus.

Spotify reported third-quarter adjusted EPS of $3.83, surpassing consensus by $1.96, and revenue of $5.01 billion, exceeding estimates by roughly $780 million. Revenue grew 7.1% year-over-year, with net margin at 8.46% and return on equity of 21.68%. The company’s subscriber base and average revenue per user continued to expand, and analysts project full-year EPS of approximately 10.3.