Spotify Technology (NYSE:SPOT – Get Free Report) Director Thomas Staggs sold 5,477 shares of Spotify Technology stock in a transaction on 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 in the company, valued at $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.
Spotify Technology Trading Up 0.5%
Shares of Spotify Technology stock opened at $515.55 on Friday. The business’s fifty day simple moving average is $479.86 and its 200 day simple moving average is $520.14. The firm has a market capitalization of $106.14 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00.
Spotify Technology (NYSE:SPOT – Get Free Report) last issued 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 business had revenue of $5.25 billion for 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. Analysts predict that Spotify Technology will post 14.72 EPS for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
A number of brokerages recently commented on SPOT. Wells Fargo & Company lifted their price target on Spotify Technology from $580.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. UBS Group dropped their price target on Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Wall Street Zen lowered Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Citizens Jmp increased their price target on Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research note on Friday, May 22nd. Finally, KeyCorp cut their price target on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Two investment 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 company’s stock. Based on data from MarketBeat.com, Spotify Technology has an average rating of “Moderate Buy” and an average target price of $655.92.
Key Headlines Impacting Spotify Technology
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Spotify has rolled out several new audio features, including podcast clips, narrated magazine articles, and AI-powered music/remix tools with artist revenue sharing, which could boost user engagement and broaden monetization opportunities. Article: Spotify now lets you ‘clip’ moments from your favorite podcast
- Positive Sentiment: Recent coverage highlighted Spotify’s long-term 2030 growth targets and margin ambitions, reinforcing the bullish view that the company can keep expanding revenue and profitability. Article: Is Spotify (SPOT) the Best Steve Cohen Stock To Buy?
- Positive Sentiment: Analyst commentary has also been supportive, with Rosenblatt recently lifting its price target on SPOT to $534 while keeping a Neutral rating, which can still help investor sentiment. Article: Spotify Technology S.A. (SPOT) Gains Attention Following AI Remix Collaboration With Universal Music Group
- Neutral Sentiment: Spotify’s addition of long-form article audio and other content formats expands its platform, but investors are still waiting to see whether these features materially improve subscriber growth or ad revenue. Article: Ninth Bonus Treasure in The Great Canadian Treasure Hunt Is Released in Saskatchewan
- Negative Sentiment: Multiple directors recently sold shares, including Thomas Staggs, Christopher Marshall, and Sven Lorentzon, which may pressure sentiment because insider selling is often viewed as a cautionary signal. SEC filing for insider sale
- Negative Sentiment: A shareholder law firm said it is investigating Spotify for possible securities-law violations, adding legal uncertainty that could weigh on the stock. Article: SPOT Investors Have Opportunity to Join Spotify Technology S.A. Fraud Investigation
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.
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