Spotify Technology $SPOT Stock Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its position in Spotify Technology (NYSE:SPOT) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,749 shares of the company’s stock after selling 31,905 shares during the period. Eurizon Capital SGR S.p.A. owned 0.05% of Spotify Technology worth $54,587,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its stake in shares of Spotify Technology by 42.1% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 368 shares of the company’s stock valued at $179,000 after buying an additional 109 shares during the period. Fifth Third Bancorp increased its holdings in shares of Spotify Technology by 156.5% in the 3rd quarter. Fifth Third Bancorp now owns 8,391 shares of the company’s stock valued at $4,090,000 after acquiring an additional 5,120 shares during the last quarter. Bingham Private Wealth LLC purchased a new position in shares of Spotify Technology in the 3rd quarter valued at about $208,000. Ritholtz Wealth Management lifted its stake in Spotify Technology by 0.8% during the third quarter. Ritholtz Wealth Management now owns 5,019 shares of the company’s stock worth $2,446,000 after purchasing an additional 41 shares during the last quarter. Finally, Joel Isaacson & Co. LLC lifted its stake in Spotify Technology by 1.0% during the third quarter. Joel Isaacson & Co. LLC now owns 1,747 shares of the company’s stock worth $851,000 after purchasing an additional 18 shares during the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SPOT shares. Morgan Stanley increased their price target on shares of Spotify Technology from $640.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Wall Street Zen cut shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Wells Fargo & Company increased their target price on shares of Spotify Technology from $570.00 to $660.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Citizens Jmp reaffirmed a “market outperform” rating and issued a $625.00 target price on shares of Spotify Technology in a research report on Friday, October 23rd. Finally, Benchmark cut their price target on shares of Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Twenty-three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus target price of $620.07.

Insider Activity

In related news, CEO Gustav Söderström sold 20,913 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47. Following the sale, the chief executive officer owned 20,025 shares of the company’s stock, valued at approximately $10,897,404.75. This trade represents a 51.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 62,733 shares of company stock valued at $34,998,490. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

NYSE:SPOT opened at $611.79 on Friday. The firm has a market cap of $125.96 billion, a PE ratio of 39.69, a P/E/G ratio of 1.86 and a beta of 1.49. The firm has a 50 day simple moving average of $542.95 and a 200-day simple moving average of $502.95. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $654.68.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Thursday, October 22nd. The company reported $2.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.37). The firm had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.28 EPS. As a group, sell-side analysts expect that Spotify Technology will post 13.60 earnings per share for the current fiscal year.

Top Spotify Technology Stories

Here are a few of the latest stories about SPOT:

• Positive Sentiment: Spotify launched audiobooks in India, offering 15 listening hours per month for Rs 199 and titles in eight languages. The move expands its paid audio offering in a large market and could support subscriber engagement and revenue growth. Article: Spotify introduces audiobooks in India
• Positive Sentiment: The company added nine AI DJ voices, including an Indian-accented option, and gave Premium users a setting to reduce or disable commentary. These personalization updates may improve the listening experience and help retain users. Article: Spotify adds AI DJ voices and commentary controls
• Neutral Sentiment: CEO Gustav Söderström sold 20,910 shares, reducing his reported stake by 51.37%. The filing says the sale covered tax withholding obligations tied to vested equity awards, which makes it a less direct bearish signal than a sale explicitly made for investment reasons. SEC filing

About Spotify Technology

Spotify Technology operates a digital audio streaming platform offering music, podcasts and audiobooks. Listeners can use the service through a free, advertising-supported option or paid subscriptions, with features for discovering, organizing and sharing audio content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon, Spotify launched its streaming service in 2008. The company serves listeners and creators in markets around the world and provides tools and services for artists, podcasters, authors and other content partners.