Phoenix Financial Ltd. Takes $948,000 Position in Spotify Technology $SPOT

Phoenix Financial Ltd. acquired a new stake in shares of Spotify Technology (NYSE:SPOT) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,642 shares of the company’s stock, valued at approximately $948,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SPOT. Capital World Investors raised its position in shares of Spotify Technology by 40.7% during the third quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock valued at $1,906,260,000 after buying an additional 789,755 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Spotify Technology during the third quarter valued at approximately $512,190,000. Principal Financial Group Inc. raised its position in shares of Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock valued at $398,889,000 after buying an additional 555,752 shares during the last quarter. Swedbank AB raised its position in shares of Spotify Technology by 37.9% during the fourth quarter. Swedbank AB now owns 1,616,321 shares of the company’s stock valued at $938,614,000 after buying an additional 444,162 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Spotify Technology by 157.5% during the third quarter. Alliancebernstein L.P. now owns 699,930 shares of the company’s stock valued at $488,551,000 after buying an additional 428,156 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $436.74 on Friday. The company’s fifty day moving average is $487.47 and its 200 day moving average is $530.60. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The stock has a market capitalization of $89.92 billion, a PE ratio of 34.80, a P/E/G ratio of 1.04 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the business posted $1.07 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that Spotify Technology will post 14.87 earnings per share for the current year.

Insiders Place Their Bets

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the transaction, the chief executive officer owned 69,989 shares in the company, valued at $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares in the company, valued at $9,758,773.68. This trade represents a 50.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,102 shares of company stock worth $21,444,648 in the last quarter. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Arete Research upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price target on the stock in a research report on Thursday, February 26th. Daiwa Securities Group assumed coverage on shares of Spotify Technology in a research report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price target on the stock. Rosenblatt Securities reduced their price target on shares of Spotify Technology from $670.00 to $500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Morgan Stanley assumed coverage on shares of Spotify Technology in a research report on Monday, April 13th. They issued an “overweight” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $645.77.

Key Stories Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Spotify said it will adopt Apple’s HLS video technology for podcasts, a move that should make it easier for creators to distribute and monetize video podcasts across platforms, including Apple Podcasts. That could broaden Spotify-hosted content’s reach and support engagement with creators. TechCrunch article
• Positive Sentiment: Related coverage from multiple outlets emphasized that Spotify’s hosting platforms are adopting Apple’s video podcast technology, reinforcing the idea that the company is improving creator tools and cross-platform publishing. MacRumors article
• Neutral Sentiment: Spotify also cut prices for its Premium Standard tier in India and discontinued Premium Lite there. The move could help subscriber growth in a key market, but it may also pressure average revenue per user, so the overall stock impact is unclear. Moneycontrol article
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Spotify investors, adding a potential legal and headline-risk overhang that can weigh on sentiment. PR Newswire article

About Spotify Technology

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.