BTG Pactual Asset Management US LLC Has $2.33 Million Stock Position in Spotify Technology $SPOT

BTG Pactual Asset Management US LLC grew its position in Spotify Technology (NYSE:SPOT) by 78.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,069 shares of the company’s stock after purchasing an additional 2,236 shares during the period. BTG Pactual Asset Management US LLC’s holdings in Spotify Technology were worth $2,327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SPOT. State Street Corp lifted its stake in Spotify Technology by 1.9% in the fourth quarter. State Street Corp now owns 4,712,249 shares of the company’s stock valued at $2,736,450,000 after acquiring an additional 89,951 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 149,479 shares during the last quarter. Capital World Investors raised its holdings 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 valued at $1,663,024,000 after purchasing an additional 133,108 shares in the last quarter. Fisher Asset Management LLC raised its holdings 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 valued at $1,547,890,000 after purchasing an additional 62,887 shares in the last quarter. Finally, Coatue Management LLC lifted its stake in shares of Spotify Technology by 35.9% in the 4th quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock valued at $1,423,251,000 after purchasing an additional 647,708 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

More Spotify Technology News

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

• Positive Sentiment: A bullish analysis argues that Spotify’s improving fundamentals and stock price well below last year’s peak could create substantial upside through 2030. The thesis highlights a potential disconnect between the company’s operating performance and its valuation, despite Spotify’s latest quarterly revenue rising 13.9% year over year. Prediction: Spotify Stock Could Be a Monster Winner by 2030
• Positive Sentiment: Spotify launched Premium Early Access in India, giving paying subscribers earlier access to releases from prominent artists including Badshah and Harrdy Sandhu. The initiative could improve premium-user engagement, strengthen Spotify’s position in India and support future monetization in a large growth market. Spotify launches Premium Early Access in India
• Neutral Sentiment: A discussion of Sweden’s startup ecosystem provides broader technology-sector context but does not announce a material change to Spotify’s operations, financial outlook or valuation. How Sweden built one of Europe’s hottest startup ecosystems
• Negative Sentiment: Spotify’s ad-skipping feature is raising questions about the company’s podcast strategy. Although it may improve the listener experience, easier avoidance of podcast ads could reduce advertising value or complicate revenue sharing for creators and Spotify. Spotify Ad-Skipping Feature Blurs Company Impact On Podcasting

Spotify Technology Stock Performance

Spotify Technology stock opened at $548.35 on Monday. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $745.00. The firm has a market capitalization of $112.89 billion, a PE ratio of 34.14, a PEG ratio of 1.34 and a beta of 1.58. The business’s 50-day simple moving average is $493.67 and its 200-day simple moving average is $489.23.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing the consensus estimate of $3.16 by ($0.13). The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. Spotify Technology’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.42) EPS. Research analysts forecast that Spotify Technology will post 14.3 earnings per share for the current year.

Insider Buying and Selling at Spotify Technology

In related news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the transaction, the chief executive officer owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $507.24, for a total transaction of $10,567,330.92. Following the transaction, the chief executive officer owned 20,142 shares of the company’s stock, valued at approximately $10,216,828.08. The trade was a 50.84% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 73,371 shares of company stock worth $36,222,251. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Guggenheim reiterated a “buy” rating and set a $565.00 price target on shares of Spotify Technology in a research note on Wednesday, August 5th. Wells Fargo & Company lowered their price objective on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Rosenblatt Securities cut their price objective on Spotify Technology from $531.00 to $527.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Argus restated a “buy” rating and issued a $600.00 target price on shares of Spotify Technology in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $609.05.

Spotify Technology Company 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.