MASTERINVEST Kapitalanlage GmbH Trims Stock Holdings in Spotify Technology $SPOT

MASTERINVEST Kapitalanlage GmbH lowered its stake in shares of Spotify Technology (NYSE:SPOT) by 29.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,749 shares of the company’s stock after selling 1,577 shares during the period. MASTERINVEST Kapitalanlage GmbH’s holdings in Spotify Technology were worth $1,818,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in shares of Spotify Technology by 12.9% during the fourth quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after buying an additional 73,722 shares during the period. City Holding Co. boosted its position in shares of Spotify Technology by 2,515.9% in the fourth quarter. City Holding Co. now owns 5,598 shares of the company’s stock valued at $3,251,000 after acquiring an additional 5,384 shares during the period. Robeco Schweiz AG boosted its position in shares of Spotify Technology by 37.6% in the fourth quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock valued at $10,769,000 after acquiring an additional 5,071 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new position in Spotify Technology during the fourth quarter valued at approximately $1,162,000. Finally, Robinhood Asset Management LLC purchased a new position in Spotify Technology during the fourth quarter valued at approximately $8,233,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify launched a ChatGPT-like music assistant that lets Premium users talk to the app, request songs or audio, and ask questions about their listening history. That could boost user engagement and strengthen Spotify’s product moat. Spotify expands its AI push with a ChatGPT-like music assistant
• Positive Sentiment: Jefferies reiterated a Buy rating and $600 price target, saying it remains constructive on Spotify’s long-term outlook and sees potential catalysts from a Warner Music Group remixing agreement and future AI remixing features. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to users on its free tier in several countries, including the U.S. and U.K. That broadens a family feature beyond paid subscribers and could help improve retention and drive future conversion. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Coverage ahead of earnings suggests Spotify’s second-quarter results may be steady rather than a major surprise, so the upcoming report may not be a near-term stock-moving event on its own. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Neutral Sentiment: Several articles simply recapped Spotify’s shift toward a more creator-friendly platform and the new conversational AI feature, reinforcing the same product narrative rather than adding a new catalyst. Spotify on its shift from exclusive podcasts to building a creator-friendly platform

Insider Transactions at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of the 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 sale, the chief executive officer owned 67,582 shares of the company’s stock, valued at approximately $32,497,480.52. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the completion of the transaction, the director owned 6,383 shares in the company, valued at $3,355,734.59. This represents a 84.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 111,442 shares of company stock valued at $54,757,553. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Canaccord Genuity Group decreased their target price on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. UBS Group decreased their price target on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, July 10th. The Goldman Sachs Group lowered their price objective on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research note on Sunday. Two research 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, Spotify Technology presently has an average rating of “Moderate Buy” and an average price target of $638.58.

Spotify Technology Trading Up 1.0%

Shares of NYSE:SPOT opened at $485.67 on Thursday. The stock has a market capitalization of $99.99 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56. The stock’s 50-day moving average price is $474.20 and its 200-day moving average price is $492.59. Spotify Technology has a 12-month low of $405.00 and a 12-month 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 for the quarter, beating 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 company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the previous year, the company posted $1.07 EPS. Spotify Technology’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts predict that Spotify Technology will post 14.62 EPS for the current year.

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.