Bastion Asset Management Inc. Acquires Shares of 5,508 Spotify Technology $SPOT

Bastion Asset Management Inc. acquired a new stake in shares of Spotify Technology (NYSE:SPOT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,508 shares of the company’s stock, valued at approximately $2,663,000.

A number of other institutional investors also recently modified their holdings of SPOT. Principal Financial Group Inc. raised its holdings in shares of Spotify Technology by 12.9% in the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock worth $374,672,000 after acquiring an additional 73,722 shares during the last quarter. City Holding Co. boosted its stake in Spotify Technology by 2,515.9% during the 4th quarter. City Holding Co. now owns 5,598 shares of the company’s stock valued at $3,251,000 after purchasing an additional 5,384 shares during the last quarter. Robeco Schweiz AG boosted its stake in Spotify Technology by 37.6% during the 4th quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock valued at $10,769,000 after purchasing an additional 5,071 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in Spotify Technology during the 4th quarter worth approximately $1,162,000. Finally, Robinhood Asset Management LLC bought a new stake in Spotify Technology during the 4th quarter worth approximately $8,233,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was 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 approximately $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $478.45, for a total value of $9,967,548.85. Following the completion of the transaction, the chief executive officer owned 20,259 shares of the company’s stock, valued at $9,692,918.55. This trade represents a 50.70% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 111,442 shares of company stock valued at $54,757,553 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify rolled out a new AI assistant that helps users search music, create playlists, and discover podcasts by speaking naturally, highlighting product innovation and potentially boosting user engagement. Spotify’s new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and $600 price target, citing upcoming catalysts such as AI remixing features and a possible Warner Music Group remixing agreement, which supports a bullish longer-term view. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to its free tier in several major markets, a move that could widen adoption among families and improve the platform’s ecosystem. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Back Market announced new partnerships with Duolingo and Spotify as part of its back-to-school campaign, but the announcement appears more promotional than financially material for SPOT. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase – And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Singer Lorde criticized Spotify over sloppy AI-generated song descriptions, adding to concerns that Spotify’s AI rollout could face backlash around quality and trust. Lorde slams Spotify over sloppy AI-generated song descriptions
• Negative Sentiment: Recent market coverage noted that Spotify dipped more than the broader market, suggesting investors are still focused on valuation and near-term execution despite the company’s strong fundamentals. Why Spotify (SPOT) Dipped More Than Broader Market Today

Spotify Technology Stock Down 2.0%

Spotify Technology stock opened at $475.67 on Friday. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $748.30. The company’s 50 day moving average price is $475.16 and its two-hundred day moving average price is $491.82. The stock has a market cap of $97.93 billion, a P/E ratio of 37.90, a P/E/G ratio of 1.19 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.07 EPS. On average, equities analysts anticipate that Spotify Technology will post 14.59 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPOT. Guggenheim dropped their target price on Spotify Technology from $600.00 to $565.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Rosenblatt Securities lowered their price target on Spotify Technology from $534.00 to $531.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Daiwa Securities Group started coverage on Spotify Technology in a research note on Thursday, March 26th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Spotify Technology Profile

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.