Diversify Wealth Management LLC Raises Holdings in Spotify Technology $SPOT

Diversify Wealth Management LLC increased its stake in shares of Spotify Technology (NYSE:SPOT) by 387.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,064 shares of the company’s stock after acquiring an additional 1,641 shares during the period. Diversify Wealth Management LLC’s holdings in Spotify Technology were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Spotify Technology in the 3rd quarter worth approximately $26,000. Portus Wealth Advisors LLC acquired a new stake in shares of Spotify Technology during the 1st quarter worth approximately $32,000. Kemnay Advisory Services Inc. purchased a new position in shares of Spotify Technology during the 4th quarter valued at approximately $32,000. Whipplewood Advisors LLC increased its holdings in shares of Spotify Technology by 423.1% during 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. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Spotify Technology in the 4th quarter valued at $35,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Down 2.0%

NYSE:SPOT opened at $475.67 on Friday. The company has a market cap of $97.93 billion, a P/E ratio of 37.90, a P/E/G ratio of 1.19 and a beta of 1.56. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $748.30. The company’s 50-day moving average price is $475.16 and its 200-day moving average price is $491.82.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the company earned $1.07 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts expect that Spotify Technology will post 14.59 earnings per share for the current year.

More Spotify Technology News

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

• Positive Sentiment: Spotify rolled out a new AI assistant that helps users search music, create playlists, and discover podcasts by speaking naturally, highlighting product innovation and potentially boosting user engagement. 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 $600 price target, citing upcoming catalysts such as AI remixing features and a possible Warner Music Group remixing agreement, which supports a bullish longer-term view. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to its free tier in several major markets, a move that could widen adoption among families and improve the platform’s ecosystem. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Back Market announced new partnerships with Duolingo and Spotify as part of its back-to-school campaign, but the announcement appears more promotional than financially material for SPOT. 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: Singer Lorde criticized Spotify over sloppy AI-generated song descriptions, adding to concerns that Spotify’s AI rollout could face backlash around quality and trust. Lorde slams Spotify over sloppy AI-generated song descriptions
• Negative Sentiment: Recent market coverage noted that Spotify dipped more than the broader market, suggesting investors are still focused on valuation and near-term execution despite the company’s strong fundamentals. Why Spotify (SPOT) Dipped More Than Broader Market Today

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group lowered their price target on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Daiwa Securities Group assumed coverage on shares of Spotify Technology in a report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price objective for the company. Guggenheim decreased their price objective on shares of Spotify Technology from $600.00 to $565.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Citizens Jmp raised their target price on Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research report on Friday, May 22nd. Two equities research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $638.58.

Insider Transactions at Spotify Technology

In related news, Director Thomas O. Staggs sold 5,477 shares of the business’s 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 approximately $1,903,594. The trade was a 60.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $478.45, for a total transaction of $9,967,548.85. Following the sale, the chief executive officer directly owned 20,259 shares in the company, valued at $9,692,918.55. This represents a 50.70% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 111,442 shares of company stock worth $54,757,553 in the last 90 days. Insiders own 0.40% of the company’s stock.

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.