Bessemer Group Inc. Sells 86,269 Shares of Spotify Technology $SPOT

Bessemer Group Inc. trimmed its position in Spotify Technology (NYSE:SPOT) by 11.8% during the 1st quarter, HoldingsChannel reports. The firm owned 643,123 shares of the company’s stock after selling 86,269 shares during the period. Bessemer Group Inc.’s holdings in Spotify Technology were worth $311,857,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Spotify Technology in the 3rd quarter worth approximately $26,000. Portus Wealth Advisors LLC purchased a new stake in Spotify Technology during the first quarter valued at approximately $32,000. Kemnay Advisory Services Inc. bought a new position in Spotify Technology in the fourth quarter worth approximately $32,000. Whipplewood Advisors LLC boosted its stake in shares of Spotify Technology by 423.1% during the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock worth $33,000 after acquiring an additional 55 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Spotify Technology during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Cantor Fitzgerald raised their target price on Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Pivotal Research decreased their price objective on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp lifted their price objective on Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research report on Friday, May 22nd. Barclays increased their target price on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Two 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Activity

In other news, Director Christopher P. Marshall sold 2,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the transaction, the director owned 4,039 shares of the company’s stock, valued at approximately $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction 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 transaction, 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 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. Over the last 90 days, insiders have sold 111,442 shares of company stock valued at $54,757,553. Company insiders own 0.40% of the company’s stock.

Spotify Technology Trading Down 2.0%

Shares of SPOT opened at $475.67 on Friday. The business’s 50 day moving average is $475.16 and its 200 day moving average is $491.82. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $748.30. The company has a market capitalization of $97.93 billion, a PE ratio of 37.90, a price-to-earnings-growth ratio of 1.19 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share 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 business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the company posted $1.07 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts predict that Spotify Technology will post 14.59 earnings per share for the current year.

Key Headlines Impacting Spotify Technology

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 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.