SPX Gestao de Recursos Ltda Purchases Shares of 8,626 Spotify Technology $SPOT

SPX Gestao de Recursos Ltda purchased a new position in Spotify Technology (NYSE:SPOT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,626 shares of the company’s stock, valued at approximately $3,960,000.

A number of other large investors have also modified their holdings of SPOT. State Street Corp boosted its stake in Spotify Technology by 1.9% in the 4th quarter. State Street Corp now owns 4,712,249 shares of the company’s stock worth $2,736,450,000 after purchasing an additional 89,951 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Spotify Technology by 4.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company’s stock valued at $2,247,042,000 after purchasing an additional 149,479 shares in the last quarter. Capital World Investors increased its stake in Spotify Technology by 4.9% during the 4th quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock valued at $1,663,024,000 after purchasing an additional 133,108 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after buying an additional 62,887 shares during the last quarter. Finally, Coatue Management LLC raised its holdings in shares of Spotify Technology by 35.9% in the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock worth $1,423,251,000 after buying an additional 647,708 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $496.52, for a total value of $10,344,001.16. Following the sale, the chief executive officer directly owned 20,376 shares of the company’s stock, valued at approximately $10,117,091.52. This represents a 50.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the sale, the chief executive officer directly owned 66,773 shares in the company, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. 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. In the last three months, insiders have sold 73,371 shares of company stock valued at $36,222,251. 0.40% of the stock is currently owned by corporate insiders.

Spotify Technology Trading Up 4.0%

SPOT opened at $548.35 on Friday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $745.00. The firm has a market capitalization of $112.89 billion, a PE ratio of 34.14, a P/E/G ratio of 1.29 and a beta of 1.58. The firm has a 50 day moving average of $493.67 and a two-hundred day moving average of $488.71.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.13). The business had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. As a group, analysts predict that Spotify Technology will post 14.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Guggenheim reiterated a “buy” rating and set a $565.00 price objective on shares of Spotify Technology in a research note on Wednesday, August 5th. Cantor Fitzgerald upped their target price on Spotify Technology from $510.00 to $530.00 and gave the company a “neutral” rating in a research report on Wednesday, August 5th. Argus restated a “buy” rating and issued a $600.00 target price on shares of Spotify Technology in a research note on Thursday, August 13th. Citizens Jmp lifted their price target on Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley boosted their price target on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $609.05.

More Spotify Technology News

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

• Positive Sentiment: A bullish analysis argues that Spotify’s improving fundamentals and stock price well below last year’s peak could create substantial upside through 2030. The thesis highlights a potential disconnect between the company’s operating performance and its valuation, despite Spotify’s latest quarterly revenue rising 13.9% year over year. Prediction: Spotify Stock Could Be a Monster Winner by 2030
• Positive Sentiment: Spotify launched Premium Early Access in India, giving paying subscribers earlier access to releases from prominent artists including Badshah and Harrdy Sandhu. The initiative could improve premium-user engagement, strengthen Spotify’s position in India and support future monetization in a large growth market. Spotify launches Premium Early Access in India
• Neutral Sentiment: A discussion of Sweden’s startup ecosystem provides broader technology-sector context but does not announce a material change to Spotify’s operations, financial outlook or valuation. How Sweden built one of Europe’s hottest startup ecosystems
• Negative Sentiment: Spotify’s ad-skipping feature is raising questions about the company’s podcast strategy. Although it may improve the listener experience, easier avoidance of podcast ads could reduce advertising value or complicate revenue sharing for creators and Spotify. Spotify Ad-Skipping Feature Blurs Company Impact On Podcasting

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.