Parallel Advisors LLC Acquires 1,124 Shares of Spotify Technology $SPOT

Parallel Advisors LLC increased its holdings in Spotify Technology (NYSE:SPOT) by 33.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,514 shares of the company’s stock after purchasing an additional 1,124 shares during the period. Parallel Advisors LLC’s holdings in Spotify Technology were worth $2,189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SPOT. Norges Bank bought a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $711,460,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Spotify Technology by 1,382.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,182 shares of the company’s stock valued at $724,251,000 after acquiring an additional 1,163,045 shares in the last quarter. Coatue Management LLC grew its stake in Spotify Technology by 35.9% during the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock valued at $1,423,251,000 after acquiring an additional 647,708 shares in the last quarter. National Pension Service bought a new stake in Spotify Technology in the 4th quarter valued at $316,278,000. Finally, Swedbank AB increased its holdings in Spotify Technology by 37.9% in the 4th quarter. Swedbank AB now owns 1,616,321 shares of the company’s stock valued at $938,614,000 after acquiring an additional 444,162 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SPOT. Morgan Stanley boosted their price target on shares of Spotify Technology from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Citizens Jmp raised 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. KeyCorp decreased their target price on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Finally, Weiss Ratings downgraded Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $630.00.

Spotify Technology Price Performance

Spotify Technology stock opened at $475.78 on Friday. The stock has a market cap of $97.95 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.58. The firm has a 50-day moving average of $483.16 and a two-hundred day moving average of $485.09. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $748.30.

Insider Activity

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business’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 value of $18,600,327.40. Following the completion of the sale, the director owned 6,383 shares in the company, valued at approximately $3,355,734.59. The trade was a 84.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas O. Staggs sold 5,477 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total value of $2,880,902.00. Following the completion of the transaction, the director directly owned 3,619 shares in the company, valued at approximately $1,903,594. This trade represents a 60.21% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 116,878 shares of company stock valued at $59,081,110. Insiders own 0.40% of the company’s stock.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Spotify surpassed 300 million Premium subscribers and reported 777 million monthly active users, up 12% year over year. Revenue increased 14% to approximately €4.78 billion, while net income reached €545 million, supporting the company’s long-term scale and monetization story. Spotify reaches 300 million paying subscribers
• Positive Sentiment: Management is emphasizing monetization through changes to the free tier, add-ons and automated advertising. These initiatives are intended to increase revenue per user and convert more free listeners into paid subscribers, even if monthly-active-user growth slows. Spotify free-tier changes and subscriber growth
• Positive Sentiment: Analyst sentiment remains broadly favorable. Guggenheim reaffirmed a Buy rating with a $565 price target, while Cantor Fitzgerald raised its target to $530, although Cantor maintained a Neutral rating.
• Neutral Sentiment: Spotify is expanding AI products, including consent-based music remix and cover tools and planned AI-generated podcasts in Germany that may use information from users’ calendars and email. The products could increase engagement and create new revenue streams, but raise privacy, licensing and cost concerns. Spotify AI podcasts in Germany
• Negative Sentiment: Second-quarter adjusted earnings missed expectations, with roughly $3.00 per share versus estimates of $3.16–$3.27. Higher marketing, cloud-computing and AI expenses offset record margins, subscriber gains and stronger cash flow. Spotify Q2 earnings miss
• Negative Sentiment: Third-quarter guidance calls for 788 million monthly active users, implying the slowest quarterly MAU growth since 2018. Slower growth in North America and Europe, along with profit guidance below some analyst expectations, is pressuring the valuation.
• Negative Sentiment: Co-CEO Gustav Soderstrom sold approximately $10.6 million of stock, reducing his direct holdings by about 51%, while CEO Alex Norstrom sold 5,436 shares. Both sales were disclosed as tax-withholding transactions tied to vested equity awards, limiting but not eliminating their negative signaling effect. Spotify co-CEO stock sale

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.