Employees Retirement System of Texas Increases Stock Holdings in Spotify Technology $SPOT

Employees Retirement System of Texas lifted its position in Spotify Technology (NYSE:SPOT) by 2,886.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 100,209 shares of the company’s stock after purchasing an additional 96,853 shares during the period. Employees Retirement System of Texas’ holdings in Spotify Technology were worth $58,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GS Investments Inc. lifted its holdings in shares of Spotify Technology by 51.2% in the fourth quarter. GS Investments Inc. now owns 2,650 shares of the company’s stock worth $1,539,000 after buying an additional 897 shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its position in shares of Spotify Technology by 31.0% in the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 3,423 shares of the company’s stock worth $1,988,000 after purchasing an additional 810 shares during the last quarter. Mmbg Investment Advisors CO. increased its position in shares of Spotify Technology by 63.5% in the fourth quarter. Mmbg Investment Advisors CO. now owns 3,954 shares of the company’s stock worth $2,296,000 after purchasing an additional 1,535 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Spotify Technology by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock worth $1,547,890,000 after purchasing an additional 62,887 shares during the last quarter. Finally, Simplify Asset Management Inc. increased its position in shares of Spotify Technology by 26.6% in the fourth quarter. Simplify Asset Management Inc. now owns 1,042 shares of the company’s stock worth $605,000 after purchasing an additional 219 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the transaction, the chief executive officer owned 69,989 shares in the company, valued at $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 47,102 shares of company stock worth $21,444,648 over the last quarter. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $530.12 on Wednesday. Spotify Technology has a one year low of $405.00 and a one year high of $785.00. The firm’s 50 day simple moving average is $480.28 and its two-hundred day simple moving average is $521.61. The stock has a market capitalization of $109.14 billion, a P/E ratio of 42.24, a PEG ratio of 1.26 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Spotify Technology will post 14.86 earnings per share for the current fiscal year.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify set ambitious 2030 goals, including a mid-teens revenue CAGR and operating margins above 20%, signaling confidence in stronger monetization and profitability over time.
• Positive Sentiment: The company unveiled new AI-related offerings, including legal AI remix tools and expansion into AI-generated music, which could deepen user engagement and create new revenue opportunities.
• Positive Sentiment: Spotify is broadening its audiobook and spoken-word ecosystem by adding narrated long-form magazine articles and other long-form content, reinforcing its strategy to become a full-service audio platform.
• Positive Sentiment: Cantor Fitzgerald raised its price target on Spotify, reflecting improving sentiment around the company’s long-term strategy and growth outlook.
• Neutral Sentiment: Coverage from Forbes and other outlets highlighted Spotify’s push to own more of the audio production layer and expand its content ecosystem, but these pieces were more strategic commentary than direct catalysts.
• Negative Sentiment: Some investors may worry that Spotify’s expansion into AI-generated music could raise platform-quality or rights-management concerns, even as management frames it as a growth opportunity.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citizens Jmp upped their price objective on shares of Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research report on Friday, May 22nd. Citigroup upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price objective on the stock in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their price objective on shares of Spotify Technology from $580.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $655.92.

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.