Atalanta Sosnoff Capital LLC Cuts Position in Spotify Technology $SPOT

Atalanta Sosnoff Capital LLC lessened its position in Spotify Technology (NYSE:SPOT) by 42.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,254 shares of the company’s stock after selling 37,899 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Spotify Technology were worth $30,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SPOT. Sivia Capital Partners LLC purchased a new stake in shares of Spotify Technology during the second quarter worth $312,000. Jump Financial LLC lifted its position in Spotify Technology by 5.2% in the second quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock valued at $869,000 after purchasing an additional 56 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Spotify Technology in the second quarter valued at about $178,000. NewEdge Advisors LLC lifted its position in Spotify Technology by 36.9% in the second quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock valued at $9,707,000 after purchasing an additional 3,412 shares during the period. Finally, Glenview Trust co acquired a new stake in Spotify Technology in the second quarter valued at about $298,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Spotify Technology Stock Performance

Shares of Spotify Technology stock opened at $480.77 on Friday. The firm has a market cap of $98.98 billion, a PE ratio of 38.31, a price-to-earnings-growth ratio of 1.19 and a beta of 1.56. The firm’s 50-day simple moving average is $482.76 and its 200-day simple moving average is $510.88. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00.

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. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS. On average, equities analysts predict that Spotify Technology will post 14.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Guggenheim reduced their price target on shares of Spotify Technology from $600.00 to $565.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. KeyCorp dropped their price objective on shares of Spotify Technology from $745.00 to $680.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $580.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Wall Street Zen cut shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $655.92.

Insider Buying and Selling

In other news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were 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 directly owned 6,383 shares of the company’s stock, valued at approximately $3,355,734.59. This represents a 84.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher P. Marshall sold 2,650 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the completion of the sale, the director directly owned 4,039 shares of the company’s stock, valued at approximately $2,099,714.54. This represents a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 111,442 shares of company stock worth $54,647,508. Company insiders own 0.40% of the company’s stock.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: Spotify’s Investor Day emphasized long-term growth targets focused on increasing subscriber conversion and strengthening its broader brand and AI-driven strategy, which investors viewed favorably. Spotify’s “North Star” Outlook Was Music to Investors Ears
• Positive Sentiment: Spotify also brought in a new head of PR and communications, signaling a stronger focus on reputation management and clearer messaging as it expands its content and AI initiatives. Will Spotify (SPOT) Elevate Its Brand Narrative As AI Strategy Deepens Under New PR Leadership?
• Neutral Sentiment: Spotify reversed its iPhone app icon change after user backlash, a small brand-related issue that is unlikely to materially affect fundamentals. Spotify reverts iPhone app icon to original after disco-ball backlash
• Negative Sentiment: Several analysts trimmed earnings estimates slightly, including Erste Group Bank lowering FY2026 and FY2027 EPS forecasts, which adds a modest headwind to sentiment. Spotify Technology (SPOT) analyst estimate updates
• Negative Sentiment: Recent trading has also reflected broader weakness, with SPOT sliding in the latest sessions even as the market rose, suggesting investors are still cautious after a strong run. Spotify (SPOT) Stock Slides as Market Rises: Facts to Know Before You Trade

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.