5,592 Shares in Spotify Technology $SPOT Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new stake in Spotify Technology (NYSE:SPOT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 5,592 shares of the company’s stock, valued at approximately $3,247,000.

Other hedge funds also recently made changes to their positions in the company. Sivia Capital Partners LLC purchased a new stake in Spotify Technology during the 2nd quarter worth $312,000. Jump Financial LLC boosted its position in Spotify Technology by 5.2% in the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock valued at $869,000 after buying an additional 56 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Spotify Technology during the second quarter valued at about $178,000. NewEdge Advisors LLC increased its position in shares of Spotify Technology by 36.9% during the second quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock worth $9,707,000 after acquiring an additional 3,412 shares during the last quarter. Finally, Glenview Trust co acquired a new position in shares of Spotify Technology in the second quarter worth about $298,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SPOT. KeyCorp lowered their price objective on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Morgan Stanley began coverage on Spotify Technology in a research report on Monday, April 13th. They issued an “overweight” rating and a $630.00 target price on the stock. Pivotal Research reduced their target price on Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. UBS Group decreased their price target on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Canaccord Genuity Group dropped their price target on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.77.

Insider Buying and Selling at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. This trade represents a 50.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the completion of the transaction, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This represents a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,102 shares of company stock worth $21,444,648 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: Spotify said it will adopt Apple’s HLS video technology for podcasts, a move that should make it easier for creators to distribute and monetize video podcasts across platforms, including Apple Podcasts. That could broaden Spotify-hosted content’s reach and support engagement with creators. TechCrunch article
• Positive Sentiment: Related coverage from multiple outlets emphasized that Spotify’s hosting platforms are adopting Apple’s video podcast technology, reinforcing the idea that the company is improving creator tools and cross-platform publishing. MacRumors article
• Neutral Sentiment: Spotify also cut prices for its Premium Standard tier in India and discontinued Premium Lite there. The move could help subscriber growth in a key market, but it may also pressure average revenue per user, so the overall stock impact is unclear. Moneycontrol article
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Spotify investors, adding a potential legal and headline-risk overhang that can weigh on sentiment. PR Newswire article

Spotify Technology Stock Up 1.0%

Shares of Spotify Technology stock opened at $436.74 on Friday. The business has a 50-day moving average price of $487.47 and a 200 day moving average price of $530.60. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The firm has a market cap of $89.92 billion, a P/E ratio of 34.80, a P/E/G ratio of 1.05 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.Spotify Technology’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. As a group, equities research analysts anticipate that Spotify Technology will post 14.87 earnings per share for the current year.

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.