Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 11,040 Spotify Technology $SPOT

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Spotify Technology (NYSE:SPOT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,040 shares of the company’s stock, valued at approximately $5,353,000.

A number of other large investors have also recently made changes to their positions in SPOT. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Spotify Technology during the third quarter worth about $26,000. JPL Wealth Management LLC acquired a new stake in shares of Spotify Technology in the 3rd quarter worth about $35,000. Kemnay Advisory Services Inc. bought a new position in Spotify Technology in the 4th quarter valued at about $32,000. Newbridge Financial Services Group Inc. bought a new position in Spotify Technology in the 4th quarter valued at about $35,000. Finally, Osbon Capital Management LLC bought a new position in Spotify Technology in the 4th quarter valued at about $35,000. 84.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $430.72, for a total value of $8,973,189.76. Following the completion of the transaction, the chief executive officer directly owned 20,492 shares of the company’s stock, valued at $8,826,314.24. This represents a 50.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas O. Staggs sold 5,477 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total value of $2,880,902.00. Following the sale, the director directly owned 3,619 shares of the company’s stock, valued at $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 111,442 shares of company stock valued at $54,757,553 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on SPOT shares. Benchmark decreased their price objective on Spotify Technology from $760.00 to $695.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Cantor Fitzgerald raised their target price on Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. UBS Group cut their target price on Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. The Goldman Sachs Group decreased their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lowered their price target on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Spotify Technology News Summary

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 Stock Performance

Spotify Technology stock opened at $475.67 on Friday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30. The firm’s 50-day simple moving average is $475.16 and its 200 day simple moving average is $491.82. The stock has a market cap 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 data on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The firm 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 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts predict that Spotify Technology will post 14.59 EPS for the current fiscal year.

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.