Spotify Technology $SPOT Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its position in Spotify Technology (NYSE:SPOT) by 282.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 100,512 shares of the company’s stock after purchasing an additional 74,221 shares during the period. Mediolanum International Funds Ltd’s holdings in Spotify Technology were worth $47,743,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Portus Wealth Advisors LLC acquired a new position in shares of Spotify Technology during the first quarter worth approximately $32,000. Kemnay Advisory Services Inc. acquired a new stake in Spotify Technology in the 4th quarter valued at approximately $32,000. Whipplewood Advisors LLC increased its position in Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after acquiring an additional 55 shares during the period. Palladiem LLC bought a new stake in Spotify Technology during the 1st quarter valued at $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Spotify Technology during the 4th quarter worth $35,000. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SPOT. JPMorgan Chase & Co. raised their price target on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Barclays increased their target price on shares of Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. The Goldman Sachs Group lowered their target price on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, UBS Group reduced their price target on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

Spotify Technology Stock Up 0.6%

Shares of Spotify Technology stock opened at $478.86 on Friday. The firm has a market cap of $98.59 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56. The business has a fifty day simple moving average of $476.38 and a 200-day simple moving average of $491.73. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the company earned $1.07 earnings per share. Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. Analysts anticipate that Spotify Technology will post 14.51 earnings per share for the current fiscal year.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify unveiled a new AI assistant that lets users find songs, build playlists, and explore podcasts using natural language, which could improve engagement and support premium user growth. 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 a $600 price target ahead of earnings, signaling continued confidence in Spotify’s long-term growth and AI-related product roadmap. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Neutral Sentiment: Spotify was highlighted in an investor letter as having robust results, suggesting institutional investors still see the company as a strong operator despite recent market noise. Market Overlooked Spotify Technology S.A. (SPOT) Despite Robust Results
• Neutral Sentiment: Spotify partnered with Back Market for a back-to-school promotion, expanding brand visibility but with limited direct financial impact. 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: Zacks said Spotify’s growth story remains intact, but warned that a rich valuation, high royalty costs, and intensifying competition make the risk/reward less attractive. Spotify’s Growth Story Is Intact, but Faces Valuation Threat
• Negative Sentiment: Spotify also faced criticism after Lorde slammed the company over sloppy AI-generated song descriptions, adding a reputational headwind around its AI rollout. Lorde slams Spotify over sloppy AI-generated song descriptions

Insider Buying and Selling

In other news, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $478.45, for a total transaction of $9,967,548.85. Following the completion of the transaction, the chief executive officer owned 20,259 shares in the company, valued at approximately $9,692,918.55. This trade represents a 50.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $480.86, for a total transaction of $2,613,954.96. Following the completion of the transaction, the chief executive officer directly owned 67,582 shares in the company, valued at $32,497,480.52. This represents a 7.44% 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 111,442 shares of company stock worth $54,757,553 in the last ninety days. Insiders own 0.40% of the company’s stock.

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.