Private Advisor Group LLC reduced its position in shares of Spotify Technology (NYSE:SPOT – Free Report) by 35.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,666 shares of the company’s stock after selling 1,441 shares during the quarter. Private Advisor Group LLC’s holdings in Spotify Technology were worth $1,293,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of SPOT. Principal Financial Group Inc. increased its holdings in shares of Spotify Technology by 12.9% in the fourth quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after purchasing an additional 73,722 shares during the last quarter. City Holding Co. lifted its holdings in shares of Spotify Technology by 2,515.9% during the fourth quarter. City Holding Co. now owns 5,598 shares of the company’s stock worth $3,251,000 after buying an additional 5,384 shares in the last quarter. Robeco Schweiz AG increased its position in Spotify Technology by 37.6% during the fourth quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock worth $10,769,000 after acquiring an additional 5,071 shares during the period. SBI Okasan Asset Management Co.Ltd. bought a new position in Spotify Technology during the fourth quarter worth about $1,162,000. Finally, Robinhood Asset Management LLC acquired a new stake in Spotify Technology in the 4th quarter worth about $8,233,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Spotify Technology Stock Performance
Shares of SPOT stock opened at $480.46 on Monday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30. The company has a market cap of $98.92 billion, a PE ratio of 38.28, a P/E/G ratio of 1.18 and a beta of 1.56. The stock’s fifty day moving average price is $471.10 and its two-hundred day moving average price is $494.73.
Insider Buying and Selling at Spotify Technology
In related news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $480.86, for a total transaction of $2,613,954.96. Following the sale, the chief executive officer owned 67,582 shares in the company, valued at $32,497,480.52. The trade was a 7.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas O. Staggs sold 5,477 shares of Spotify Technology stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total value of $2,880,902.00. Following the sale, the director directly owned 3,619 shares in the company, valued at $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 111,442 shares of company stock worth $54,757,553 over the last 90 days. 0.40% of the stock is owned by corporate insiders.
More Spotify Technology News
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
Analyst Upgrades and Downgrades
SPOT has been the topic of a number of 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 research report on Tuesday, May 26th. Citizens Jmp upped 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. Barclays increased their target price on Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Morgan Stanley boosted their price target 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, Wall Street Zen raised shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.
View Our Latest Analysis on SPOT
Spotify Technology 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.
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