Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,622 Shares of Spotify Technology $SPOT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of Spotify Technology (NYSE:SPOT) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,274 shares of the company’s stock after selling 2,622 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Spotify Technology were worth $17,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Spotify Technology during the 3rd quarter valued at about $26,000. Portus Wealth Advisors LLC purchased a new position in Spotify Technology in the 1st quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new stake in Spotify Technology in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC lifted its position in Spotify Technology by 423.1% in the first quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after purchasing an additional 55 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $35,000. 84.09% of the stock is owned by institutional investors.

Insider Transactions at Spotify Technology

In related news, Director Christopher P. Marshall sold 2,650 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the transaction, the director owned 4,039 shares in the company, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas O. Staggs sold 5,477 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the transaction, the director directly owned 3,619 shares of the company’s stock, valued at approximately $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 111,442 shares of company stock worth $54,757,553. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Daiwa Securities Group started coverage on shares of Spotify Technology in a research note on Thursday, March 26th. They issued an “outperform” rating and a $535.00 target price on the stock. Benchmark cut their price target on shares of Spotify Technology from $760.00 to $695.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. The Goldman Sachs Group decreased their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Pivotal Research lowered their price objective on shares of Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald increased their target price on shares of Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: UBS expects Spotify to report accelerating Q2 revenue growth of about 15.6% on a constant-currency basis, with results likely in line with management guidance, reinforcing confidence in the company’s near-term fundamentals. Spotify on track for double-digit growth, UBS says ahead of Q2
• Positive Sentiment: UBS maintained a buy rating on Spotify Technology (SPOT), signaling continued analyst support despite a lower price target. UBS lowers Spotify price target to $690
• Neutral Sentiment: Several analysts also adjusted price targets this week, including Rosenblatt and Wells Fargo, but the ratings stayed mostly neutral-to-bullish, suggesting expectations have shifted more than the underlying thesis. Spotify analyst price target changes
• Neutral Sentiment: Recent insider share sales by executives, including the CEO and co-CEO, drew attention, but the filings indicate the transactions were tied to tax withholding or pre-arranged trading plans, which softens the negative signal. Spotify CEO sells shares
• Negative Sentiment: Some market commentary highlighted insider selling and valuation concerns, which could pressure sentiment if investors decide Spotify’s growth is already priced in. Spotify stock could be 35% undervalued despite fraud stream removals

Spotify Technology Stock Performance

SPOT opened at $480.46 on Monday. The stock has a market capitalization of $98.92 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56. The stock’s 50 day moving average price is $471.10 and its 200-day moving average price is $494.73. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $748.30.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. Research analysts forecast that Spotify Technology will post 14.62 EPS for the current fiscal year.

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.