Axxcess Wealth Management LLC Has $4.37 Million Stock Position in Spotify Technology $SPOT

Axxcess Wealth Management LLC increased its position in shares of Spotify Technology (NYSE:SPOT) by 130.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,524 shares of the company’s stock after purchasing an additional 4,256 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Spotify Technology were worth $4,369,000 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. Capital World Investors boosted its holdings in Spotify Technology by 40.7% during the third quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock worth $1,906,260,000 after purchasing an additional 789,755 shares during the last quarter. Capital Research Global Investors purchased a new position in Spotify Technology during the third quarter worth about $512,190,000. Principal Financial Group Inc. boosted its holdings in Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock worth $398,889,000 after purchasing an additional 555,752 shares during the last quarter. Swedbank AB boosted its holdings in Spotify Technology by 37.9% during the fourth quarter. Swedbank AB now owns 1,616,321 shares of the company’s stock worth $938,614,000 after purchasing an additional 444,162 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Spotify Technology by 157.5% during the third quarter. Alliancebernstein L.P. now owns 699,930 shares of the company’s stock worth $488,551,000 after purchasing an additional 428,156 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Key Spotify Technology News

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

• Positive Sentiment: Spotify announced a new AI partnership with Universal Music Group that will let Premium users create licensed AI-generated covers and remixes, opening a potential new revenue stream while giving artists a cut of the economics. Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
• Positive Sentiment: Management reinforced a bullish 2030 outlook, calling for mid-teens annual revenue growth and gross margins of 35% to 40%, which supports the argument that profitability can keep improving. Spotify stock pops on guidance at first investor day since 2022
• Positive Sentiment: Several Wall Street firms raised price targets after the event, including JPMorgan, Wells Fargo, Morgan Stanley, Barclays, Citizens JMP, and Jefferies, signaling stronger confidence in Spotify’s growth story. Analyst target hikes
• Positive Sentiment: Spotify also introduced new product features tied to engagement and monetization, including AI-generated podcasts, audiobook tools, and reserved concert tickets for top fans, which could deepen user activity and subscription value. Spotify adds AI-powered Q&A and briefing generation features to podcasts
• Neutral Sentiment: A Seeking Alpha opinion piece argued Spotify’s long-term path deserves a premium valuation, but this is more commentary than a new fundamental catalyst. Spotify’s Path Forward Deserves This Premium
• Negative Sentiment: One Seeking Alpha note warned that weaker advertising trends could be a concern, suggesting ad-market softness may remain a headwind even as Spotify’s premium business improves. Spotify: Weaker Advertising Trends Are Becoming A Concern (Downgrade)

Insider Activity at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 69,989 shares of the company’s stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total transaction of $8,973,189.76. Following the completion of the sale, the chief executive officer directly owned 20,492 shares in the company, valued at approximately $8,826,314.24. This trade represents a 50.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In 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 stock opened at $518.92 on Friday. The firm has a market cap of $106.83 billion, a price-to-earnings ratio of 41.35, a P/E/G ratio of 1.25 and a beta of 1.55. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $785.00. The firm’s 50-day simple moving average is $479.80 and its two-hundred day simple moving average is $523.86.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (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 company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts forecast that Spotify Technology will post 14.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price target on the stock in a report on Friday, January 30th. Barclays boosted their price target on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a report on Friday. Rosenblatt Securities boosted their price target on shares of Spotify Technology from $500.00 to $534.00 and gave the stock a “neutral” rating in a report on Friday. Finally, KeyCorp lowered their price objective on shares of Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $652.46.

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.