Spotify Technology (NYSE:SPOT) Director Thomas Staggs Sells 5,477 Shares

Spotify Technology (NYSE:SPOT) Director Thomas Staggs sold 5,477 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Spotify Technology Trading Down 3.2%

Shares of NYSE:SPOT opened at $512.54 on Thursday. The stock has a fifty day simple moving average of $480.04 and a two-hundred day simple moving average of $520.86. The stock has a market capitalization of $105.52 billion, a price-to-earnings ratio of 40.84, a PEG ratio of 1.28 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) last released its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. The business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.07 EPS. As a group, equities research analysts predict that Spotify Technology will post 14.86 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on SPOT shares. Wells Fargo & Company increased their target price on Spotify Technology from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Canaccord Genuity Group lowered their target price on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Morgan Stanley upped their target price on shares of Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. KeyCorp lowered their target price on shares of Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Spotify Technology from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research 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. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.92.

Hedge Funds Weigh In On Spotify Technology

Hedge funds and other institutional investors have recently modified their holdings of the company. Sivia Capital Partners LLC bought a new stake in shares of Spotify Technology during the 2nd quarter valued at about $312,000. Jump Financial LLC grew its stake in shares of Spotify Technology by 5.2% during the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock valued at $869,000 after purchasing an additional 56 shares during the period. Cary Street Partners Financial LLC bought a new stake in shares of Spotify Technology during the 2nd quarter valued at about $178,000. NewEdge Advisors LLC grew its stake in shares of Spotify Technology by 36.9% during the 2nd quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock valued at $9,707,000 after purchasing an additional 3,412 shares during the period. Finally, Glenview Trust co bought a new stake in shares of Spotify Technology during the 2nd quarter valued at about $298,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify unveiled several new AI and audio features, including narrated magazine articles, podcast clips, and AI music/remix tools with artist revenue sharing, reinforcing its push to become a broader audio platform and potentially expand engagement and monetization. Article: Spotify now lets you ‘clip’ moments from your favorite podcast
• Positive Sentiment: Investor optimism was supported by Spotify’s 2030 growth targets and long-term monetization strategy, which helped fuel a bullish narrative around user growth and margin expansion. Article: Spotify Sets 2030 Growth Targets, Shares Rally
• Positive Sentiment: Cantor Fitzgerald raised its price target on Spotify, signaling improved valuation expectations even though the firm kept a neutral rating. Article: Spotify Technology price target raised by Cantor Fitzgerald
• Neutral Sentiment: Spotify’s expansion into narrated magazine articles and long-form audio content adds to its product lineup, but the immediate stock impact is unclear as investors assess adoption and monetization potential. Article: Spotify now lets you stream narrated magazine articles, too
• Negative Sentiment: Director Sven Hans Martin Lorentzon sold a large block of shares, and Director Thomas O. Staggs also reduced his stake, which can weigh on sentiment because insider selling is often viewed cautiously by investors. SEC filing for insider sale SEC filing for insider sale
• Negative Sentiment: A shareholder-law firm said it is investigating potential securities-law violations involving Spotify, creating legal overhang that may add uncertainty for the stock. Article: SPOT Investors Have Opportunity to Join Spotify Technology S.A. Fraud Investigation

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.