Spotify Technology (NYSE:SPOT – Get Free Report) CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the transaction, the chief executive officer owned 66,773 shares of the company’s stock, valued at $33,526,723.30. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Alex Norstrom also recently made the following trade(s):
- On Monday, July 6th, Alex Norstrom sold 5,436 shares of Spotify Technology stock. The stock was sold at an average price of $480.86, for a total transaction of $2,613,954.96.
Spotify Technology Stock Up 1.2%
Shares of NYSE:SPOT traded up $5.58 during midday trading on Wednesday, reaching $483.75. 2,597,140 shares of the company were exchanged, compared to its average volume of 2,424,541. The firm has a market cap of $99.59 billion, a PE ratio of 38.55, a P/E/G ratio of 1.21 and a beta of 1.58. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $748.30. The stock has a fifty day simple moving average of $484.53 and a two-hundred day simple moving average of $485.46.
Institutional Investors Weigh In On Spotify Technology
Analyst Ratings Changes
SPOT has been the subject of several recent research reports. Morgan Stanley upped their price objective on Spotify Technology from $590.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. KeyCorp dropped their target price on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Rosenblatt Securities reduced their price target on Spotify Technology from $531.00 to $527.00 and set a “neutral” rating for the company in a research report on Wednesday. Weiss Ratings downgraded Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Finally, The Goldman Sachs Group decreased their price objective on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $630.00.
View Our Latest Analysis on SPOT
Key Stories Impacting Spotify Technology
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Spotify surpassed 300 million Premium subscribers for the first time and reached 777 million monthly active users, reinforcing its scale and competitive position in global audio streaming. Spotify now has over 300M subscribers
- Positive Sentiment: Second-quarter revenue rose about 14% year over year, while Spotify reported record gross margins, substantially higher net income and stronger cash flow. Management also issued a stronger revenue outlook for the third quarter, supporting the long-term profitability story. How Spotify’s Profit Surge and 300 Million Subs Milestone Will Impact Spotify Technology Investors
- Positive Sentiment: Spotify is expanding monetization through price increases, add-on products and automated advertising. Its planned AI-powered remix and cover feature has gained support from Universal Music Group and Merlin, potentially creating new paid engagement and licensing revenue. Spotify expands AI remix and covers project with Merlin partnership
- Positive Sentiment: Analyst sentiment remains supportive: Guggenheim reaffirmed its Buy rating with a $565 price target, while Cantor Fitzgerald raised its target to $530, despite maintaining a Neutral rating. Spotify analyst ratings and price targets
- Neutral Sentiment: Spotify launched Premium Rewards in India, offering discounts, events and partner benefits. The program could improve retention and engagement, but its financial impact is not yet clear. Spotify Premium Rewards launches in India
- Negative Sentiment: Quarterly earnings missed consensus estimates, with higher marketing, cloud-service and AI expenses offsetting margin gains. The company also guided to slower third-quarter monthly active-user growth, its weakest expected pace since 2018, particularly in North America and Europe. Spotify forecasts weak profit as user growth slows
- Negative Sentiment: Investors remain concerned that aggressive AI investment could pressure near-term profits, while the use of AI-generated music raises risks involving artist consent, impersonation, copyright and fraudulent streaming activity. Spotify Q2 Earnings Miss on Higher Marketing and AI Costs
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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