Boston Common Asset Management LLC Boosts Stake in Spotify Technology $SPOT

Boston Common Asset Management LLC increased its holdings in shares of Spotify Technology (NYSE:SPOT) by 64.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,596 shares of the company’s stock after acquiring an additional 20,516 shares during the period. Spotify Technology makes up approximately 1.6% of Boston Common Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Boston Common Asset Management LLC’s holdings in Spotify Technology were worth $25,504,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Portus Wealth Advisors LLC acquired a new stake in Spotify Technology in the first quarter valued at $32,000. Kemnay Advisory Services Inc. acquired a new position in shares of Spotify Technology during the 4th quarter worth $32,000. Whipplewood Advisors LLC increased its holdings in shares of Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after purchasing an additional 55 shares in the last quarter. Palladiem LLC purchased a new position in shares of Spotify Technology in the 1st quarter valued at about $34,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Spotify Technology in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

More Spotify Technology News

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

• Positive Sentiment: Spotify unveiled a new AI assistant that lets users find songs, build playlists, and explore podcasts using natural language, which could improve engagement and support premium user growth. Spotify’s new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and a $600 price target ahead of earnings, signaling continued confidence in Spotify’s long-term growth and AI-related product roadmap. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Neutral Sentiment: Spotify was highlighted in an investor letter as having robust results, suggesting institutional investors still see the company as a strong operator despite recent market noise. Market Overlooked Spotify Technology S.A. (SPOT) Despite Robust Results
• Neutral Sentiment: Spotify partnered with Back Market for a back-to-school promotion, expanding brand visibility but with limited direct financial impact. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase – And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Zacks said Spotify’s growth story remains intact, but warned that a rich valuation, high royalty costs, and intensifying competition make the risk/reward less attractive. Spotify’s Growth Story Is Intact, but Faces Valuation Threat
• Negative Sentiment: Spotify also faced criticism after Lorde slammed the company over sloppy AI-generated song descriptions, adding a reputational headwind around its AI rollout. Lorde slams Spotify over sloppy AI-generated song descriptions

Insider Activity at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total value of $8,973,189.76. Following the transaction, the chief executive officer owned 20,492 shares in the company, valued at $8,826,314.24. This trade represents a 50.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction on 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 completion of the transaction, the director owned 4,039 shares in the company, valued at approximately $2,099,714.54. This trade represents a 39.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 111,442 shares of company stock valued at $54,757,553 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Spotify Technology Price Performance

NYSE SPOT opened at $478.86 on Monday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $748.30. The company has a 50-day moving average of $476.38 and a 200-day moving average of $491.10. The company has a market cap of $98.59 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.18 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period last year, the company earned $1.07 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts anticipate that Spotify Technology will post 14.51 EPS for the current year.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of research analyst reports. Cantor Fitzgerald boosted their target price on Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Citizens Jmp boosted their price target on Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a report on Friday, May 22nd. Wells Fargo & Company reduced their price objective on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Canaccord Genuity Group reduced their price objective 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. Finally, UBS Group decreased their target price on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Two investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $638.58.

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.