Private Advisor Group LLC Sells 1,441 Shares of Spotify Technology $SPOT

Private Advisor Group LLC reduced its stake in Spotify Technology (NYSE:SPOT) by 35.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,666 shares of the company’s stock after selling 1,441 shares during the period. Private Advisor Group LLC’s holdings in Spotify Technology were worth $1,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Spotify Technology by 1.9% during the 4th quarter. State Street Corp now owns 4,712,249 shares of the company’s stock worth $2,736,450,000 after buying an additional 89,951 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Spotify Technology by 4.0% in 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 acquiring an additional 149,479 shares during the period. Capital World Investors boosted 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 worth $1,663,024,000 after acquiring an additional 133,108 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Spotify Technology by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after acquiring an additional 62,887 shares during the last quarter. Finally, Coatue Management LLC grew its holdings in Spotify Technology by 35.9% during the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock valued at $1,423,251,000 after purchasing an additional 647,708 shares during the period. Institutional investors own 84.09% of the company’s stock.

Trending Headlines about 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

Insiders Place Their Bets

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the completion of the transaction, the director owned 6,383 shares in the company, valued at approximately $3,355,734.59. This represents a 84.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas O. Staggs sold 5,477 shares of the business’s 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 sale, the director directly owned 3,619 shares in the company, valued at $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 111,442 shares of company stock worth $54,757,553 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Spotify Technology Trading Up 0.1%

SPOT opened at $480.46 on Monday. The stock has a market capitalization of $98.92 billion, a P/E ratio of 38.28, a P/E/G ratio of 1.18 and a beta of 1.56. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $748.30. The firm’s fifty day simple moving average is $471.10 and its 200 day simple moving average is $494.73.

Spotify Technology (NYSE:SPOT) last released 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. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.07 EPS. On average, equities research analysts predict that Spotify Technology will post 14.62 EPS for the current fiscal year.

Analyst Ratings Changes

SPOT has been the topic of several analyst reports. 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. Rosenblatt Securities lowered their price objective on shares of Spotify Technology from $534.00 to $531.00 and set a “neutral” rating for the company in a research report on Thursday. Daiwa Securities Group assumed coverage on Spotify Technology in a research note on Thursday, March 26th. They set an “outperform” rating and a $535.00 price objective on the stock. Morgan Stanley boosted their target price on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, KeyCorp lowered their price target on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

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.