Insider Selling: Spotify Technology (NYSE:SPOT) Director Sells 5,477 Shares of Stock

Spotify Technology (NYSE:SPOT) Director Thomas Staggs sold 5,477 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total value of $2,880,902.00. Following the transaction, the director owned 3,619 shares of the company’s stock, valued at $1,903,594. This represents a 60.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Spotify Technology Stock Down 3.2%

NYSE SPOT traded down $17.17 during trading on Wednesday, hitting $512.54. 1,862,581 shares of the stock traded hands, compared to its average volume of 2,675,334. The company has a market capitalization of $105.52 billion, a P/E ratio of 40.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The firm has a 50-day simple moving average of $480.28 and a 200-day simple moving average of $521.61. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.63. The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, research analysts predict that Spotify Technology will post 14.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Spotify Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its stake in shares of Spotify Technology by 1.9% during the 4th quarter. State Street Corp now owns 4,712,249 shares of the company’s stock worth $2,736,450,000 after acquiring an additional 89,951 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Spotify Technology by 4.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company’s stock worth $2,247,042,000 after acquiring an additional 149,479 shares during the last quarter. Capital World Investors lifted its stake in shares of Spotify Technology by 4.9% during the 4th quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock worth $1,663,024,000 after acquiring an additional 133,108 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Spotify Technology by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after acquiring an additional 62,887 shares during the last quarter. Finally, Coatue Management LLC lifted its stake in shares of Spotify Technology by 35.9% during the 4th quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock worth $1,423,251,000 after acquiring an additional 647,708 shares during the last quarter. 84.09% of the stock is owned by institutional investors.

Key Spotify Technology News

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

• Positive Sentiment: Spotify is expanding its audio ecosystem by adding narrated magazine and long-form article playback for Premium users, giving subscribers more reasons to stay engaged in the app and potentially boosting retention. Spotify adds audio magazine articles for Premium users, long reads now play like podcasts
• Positive Sentiment: The company also launched new AI music-creation/remix initiatives with Universal Music Group and has been highlighting AI-generated music as part of its long-term strategy, which could improve monetization and keep Spotify central to the next wave of music creation. Spotify and UMG launch AI music creation feature with artist revenue sharing
• Positive Sentiment: Spotify is continuing to add shareable podcast tools, including “Podcast clips,” which may help creators drive more discovery and engagement on the platform. Spotify now lets you ‘clip’ moments from your favorite podcast
• Positive Sentiment: Recent commentary around Spotify’s 2030 targets and monetization plan has reinforced the bull case that the company can grow users and margins over time. Spotify Sets 2030 Growth Targets, Shares Rally
• Neutral Sentiment: Analysts remain mixed on valuation, with Cantor Fitzgerald lifting its price target but keeping a neutral rating, suggesting the market sees upside but not a clear-cut bargain at current levels. Spotify Technology had its price target raised by Cantor Fitzgerald
• Negative Sentiment: Investor attention is also being drawn to a fraud investigation from a shareholder rights firm, which can create headline risk even before any findings are reached. SPOT Investors Have Opportunity to Join Spotify Technology S.A. Fraud Investigation with the Schall Law Firm

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SPOT shares. Barclays raised their price target on Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. The Goldman Sachs Group dropped their target price on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Guggenheim dropped their target price on Spotify Technology from $600.00 to $565.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Finally, UBS Group dropped their target price on Spotify Technology from $760.00 to $735.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $655.92.

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.