Truist Financial Corp Lowers Stake in Spotify Technology $SPOT

Truist Financial Corp cut its holdings in shares of Spotify Technology (NYSE:SPOT) by 7.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,522 shares of the company’s stock after selling 1,849 shares during the period. Truist Financial Corp’s holdings in Spotify Technology were worth $12,498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Greykasell Wealth Strategies Inc. boosted its position in Spotify Technology by 3,800.0% during the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in Spotify Technology in the third quarter valued at approximately $26,000. Westfuller Advisors LLC purchased a new stake in shares of Spotify Technology in the third quarter valued at approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of Spotify Technology during the 3rd quarter worth approximately $35,000. Finally, Chilton Capital Management LLC raised its stake in shares of Spotify Technology by 183.3% during the 3rd quarter. Chilton Capital Management LLC now owns 51 shares of the company’s stock worth $36,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Insider Activity

In other news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the transaction, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares in the company, valued at $9,758,773.68. The trade was a 50.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 47,102 shares of company stock worth $21,444,648. Insiders own 0.40% of the company’s stock.

Spotify Technology Stock Performance

Shares of SPOT opened at $427.51 on Friday. The stock has a 50 day moving average price of $496.76 and a 200 day moving average price of $539.88. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The stock has a market capitalization of $88.01 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 1.05 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts predict that Spotify Technology will post 14.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Weiss Ratings raised shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. Wells Fargo & Company dropped their target price on shares of Spotify Technology from $640.00 to $580.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Finally, Citigroup upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price target for the company in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.77.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify is expanding its AI features — the interactive AI DJ now supports French, German, Italian and Brazilian Portuguese, widening engagement and addressable markets outside English/Spanish. Spotify’s AI DJ now supports French, German, Italian and Brazilian Portuguese
• Positive Sentiment: Company strategy emphasizes AI-generated personal audio — management is positioning Spotify as a hub for AI audio creation and personalization, a potential new monetization route if adoption scales. Spotify wants to become the home for AI-generated personal audio
• Positive Sentiment: Earnings and analyst backdrop support upside — Spotify beat April quarter EPS and revenue estimates and retains strong margin metrics; many analysts maintain Buy ratings and meaningful modeled upside, which helps explain buying interest. MarketBeat SPOT coverage
• Neutral Sentiment: Partnership mention with Peloton creates distribution noise — referenced in Peloton coverage; could be incremental engagement but not yet a clear revenue driver for Spotify. Peloton Soars on Q3, Spotify partnership
• Neutral Sentiment: Elevated retail/institutional attention — Zacks and others note heavy search and coverage; attention can amplify moves but doesn’t change fundamentals. Investors Heavily Search SPOT
• Negative Sentiment: CEO insider sale — CEO Gustav Söderström sold 20,833 shares under a pre‑arranged Rule 10b5‑1 plan to cover tax withholding on vested awards; large insider sales often trigger negative sentiment despite planned/administrative reasons. Insider Selling: CEO Sells Shares
• Negative Sentiment: Investor litigation overhang — Pomerantz announced an investigation into Spotify, creating legal/regulatory uncertainty until any claims are resolved. Pomerantz investor investigation
• Negative Sentiment: Near‑term price weakness — coverage notes SPOT is down ~23% YTD, which can pressure sentiment even as longer‑term upside is argued by analysts. SPOT Down 23% YTD

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.