Cantillon Capital Management LLC Acquires New Shares in Spotify Technology $SPOT

Cantillon Capital Management LLC acquired a new position in Spotify Technology (NYSE:SPOT) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 439,353 shares of the company’s stock, valued at approximately $213,047,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadcap Wealth Management LLC lifted its stake in shares of Spotify Technology by 5.7% in the 3rd quarter. Quadcap Wealth Management LLC now owns 295 shares of the company’s stock valued at $206,000 after purchasing an additional 16 shares during the last quarter. Sagespring Wealth Partners LLC increased its position in shares of Spotify Technology by 2.9% during the 4th quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company’s stock worth $370,000 after purchasing an additional 18 shares during the last quarter. Objectivity Squared LLC increased its position in shares of Spotify Technology by 0.8% during the 4th quarter. Objectivity Squared LLC now owns 2,582 shares of the company’s stock worth $1,499,000 after purchasing an additional 20 shares during the last quarter. GAMMA Investing LLC raised its holdings in Spotify Technology by 1.4% in the 4th quarter. GAMMA Investing LLC now owns 1,667 shares of the company’s stock valued at $968,000 after buying an additional 23 shares during the period. Finally, Greenleaf Trust lifted its position in Spotify Technology by 5.8% in the fourth quarter. Greenleaf Trust now owns 455 shares of the company’s stock valued at $264,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Key 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

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research analyst reports. Benchmark lowered their target price on shares of Spotify Technology from $760.00 to $695.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Barclays increased their price objective on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. UBS Group cut their target price on Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Finally, Rosenblatt Securities lowered their price target on Spotify Technology from $534.00 to $531.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $638.58.

Insider Activity at Spotify Technology

In other Spotify Technology news, 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 value of $2,880,902.00. Following the sale, the director owned 3,619 shares of the company’s stock, valued at $1,903,594. This trade represents a 60.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the transaction, the director owned 4,039 shares of the company’s stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 111,442 shares of company stock worth $54,757,553 over the last quarter. 0.40% of the stock is currently owned by insiders.

Spotify Technology Trading Up 0.2%

Spotify Technology stock opened at $478.86 on Monday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $748.30. The stock’s fifty day simple moving average is $476.38 and its 200-day simple moving average is $491.10. The firm has a market capitalization 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, beating analysts’ consensus estimates of $3.41 by $0.63. The firm 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%.Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. Sell-side analysts predict that Spotify Technology will post 14.51 earnings per share for the current 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.