PNC Financial Services Group Inc. Sells 2,447 Shares of Spotify Technology $SPOT

PNC Financial Services Group Inc. reduced its holdings in Spotify Technology (NYSE:SPOT) by 13.1% in the fourth quarter, HoldingsChannel reports. The firm owned 16,246 shares of the company’s stock after selling 2,447 shares during the period. PNC Financial Services Group Inc.’s holdings in Spotify Technology were worth $9,434,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Greykasell Wealth Strategies Inc. increased its holdings in Spotify Technology by 3,800.0% in the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Spotify Technology during the third quarter valued at approximately $26,000. Westfuller Advisors LLC acquired a new position in shares of Spotify Technology during the third quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new position in shares of Spotify Technology during the third quarter worth approximately $35,000. Finally, Chilton Capital Management LLC raised its position in shares of Spotify Technology by 183.3% during the third quarter. Chilton Capital Management LLC now owns 51 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Spotify announced a new AI partnership with Universal Music Group that will let Premium users create licensed AI-generated covers and remixes, opening a potential new revenue stream while giving artists a cut of the economics. Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
• Positive Sentiment: Management reinforced a bullish 2030 outlook, calling for mid-teens annual revenue growth and gross margins of 35% to 40%, which supports the argument that profitability can keep improving. Spotify stock pops on guidance at first investor day since 2022
• Positive Sentiment: Several Wall Street firms raised price targets after the event, including JPMorgan, Wells Fargo, Morgan Stanley, Barclays, Citizens JMP, and Jefferies, signaling stronger confidence in Spotify’s growth story. Analyst target hikes
• Positive Sentiment: Spotify also introduced new product features tied to engagement and monetization, including AI-generated podcasts, audiobook tools, and reserved concert tickets for top fans, which could deepen user activity and subscription value. Spotify adds AI-powered Q&A and briefing generation features to podcasts
• Neutral Sentiment: A Seeking Alpha opinion piece argued Spotify’s long-term path deserves a premium valuation, but this is more commentary than a new fundamental catalyst. Spotify’s Path Forward Deserves This Premium
• Negative Sentiment: One Seeking Alpha note warned that weaker advertising trends could be a concern, suggesting ad-market softness may remain a headwind even as Spotify’s premium business improves. Spotify: Weaker Advertising Trends Are Becoming A Concern (Downgrade)

Spotify Technology Trading Up 5.9%

Shares of Spotify Technology stock opened at $518.92 on Friday. The stock has a fifty day simple moving average of $479.80 and a 200 day simple moving average of $523.86. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00. The company has a market capitalization of $106.83 billion, a P/E ratio of 41.35, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Spotify Technology will post 14.86 EPS for the current year.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares of the company’s stock, valued at approximately $9,758,773.68. The trade was a 50.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the completion of the transaction, the chief executive officer directly owned 69,989 shares in the company, valued at approximately $33,560,425.39. This represents a 7.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 47,102 shares of company stock worth $21,444,648. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SPOT shares. Citigroup raised Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 target price on the stock in a research report on Friday, January 30th. The Goldman Sachs Group lowered their target price on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. KeyCorp lowered 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. Pivotal Research lowered their target price on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. upped their target price on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Spotify Technology presently has an average rating of “Moderate Buy” and an average target price of $652.46.

Spotify Technology Company 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.