138,000 Shares in Spotify Technology $SPOT Acquired by Sculptor Capital LP

Sculptor Capital LP purchased a new position in Spotify Technology (NYSE:SPOT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 138,000 shares of the company’s stock, valued at approximately $66,918,000. Sculptor Capital LP owned 0.07% of Spotify Technology at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in Spotify Technology by 12.9% in the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after acquiring an additional 73,722 shares during the last quarter. City Holding Co. lifted its stake in Spotify Technology by 2,515.9% in the 4th quarter. City Holding Co. now owns 5,598 shares of the company’s stock worth $3,251,000 after purchasing an additional 5,384 shares in the last quarter. Robeco Schweiz AG boosted its holdings in shares of 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 position in shares of Spotify Technology during the 4th quarter valued at about $1,162,000. Finally, Robinhood Asset Management LLC purchased a new position in shares of Spotify Technology during the fourth quarter valued at about $8,233,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the transaction, the director owned 4,039 shares in the company, valued at approximately $2,099,714.54. The trade was a 39.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 20,259 shares in the company, valued at approximately $9,692,918.55. This represents a 50.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 111,442 shares of company stock worth $54,757,553. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPOT has been the topic of several research reports. Pivotal Research reduced their target price on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. Canaccord Genuity Group dropped their price target on Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Morgan Stanley raised their price target on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Benchmark reduced their price objective on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Finally, UBS Group decreased their price objective on Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $630.70.

Spotify Technology Trading Up 0.1%

Shares of NYSE SPOT opened at $483.27 on Monday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $748.30. The firm’s 50-day moving average price is $481.62 and its 200-day moving average price is $487.62. The stock has a market capitalization of $99.49 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 1.19 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping the consensus estimate 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 last year, the business posted $1.07 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, equities analysts predict that Spotify Technology will post 14.51 EPS for the current fiscal year.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Several recent articles frame Spotify as a potentially attractive value or buy candidate compared with peers, which can support sentiment around the stock. XYZ or SPOT: Which Is the Better Value Stock Right Now?
• Positive Sentiment: Spotify is being highlighted as a trending stock with strong analyst interest, reinforcing the idea that Wall Street remains broadly constructive on the name. Is It Worth Investing in Spotify (SPOT) Based on Wall Street’s Bullish Views?
• Neutral Sentiment: Benchmark reportedly lowered its expectations for Spotify, which could temper enthusiasm but does not appear severe enough on its own to dominate trading. Benchmark Has Lowered Expectations for Spotify Technology (NYSE:SPOT) Stock Price
• Negative Sentiment: A report that Spotify deleted more than 500,000 fake streams tied to Malcolm Todd has raised fraud and integrity concerns, which could be viewed as a reputational headwind for the platform. EXCLUSIVE: Spotify Deleted 500,000 Fake Malcolm Todd Streams. A Former SEC Lawyer Says the Bots May Have Committed a Federal Crime

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.