Lord Abbett & CO. LLC Sells 35,412 Shares of Spotify Technology $SPOT

Lord Abbett & CO. LLC reduced its stake in Spotify Technology (NYSE:SPOT) by 15.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 200,835 shares of the company’s stock after selling 35,412 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Spotify Technology were worth $116,627,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SPOT. Sivia Capital Partners LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $312,000. Jump Financial LLC increased its stake in Spotify Technology by 5.2% in the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock worth $869,000 after buying an additional 56 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in Spotify Technology in the 2nd quarter worth $178,000. NewEdge Advisors LLC increased its stake in Spotify Technology by 36.9% in the 2nd quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock worth $9,707,000 after buying an additional 3,412 shares in the last quarter. Finally, Glenview Trust co purchased a new stake in Spotify Technology in the 2nd quarter worth $298,000. 84.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SPOT shares. Barclays increased their price target on Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. Cantor Fitzgerald increased their price target on Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Guggenheim cut their price target on Spotify Technology from $600.00 to $565.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group cut their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $655.92.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Spotify’s Investor Day emphasized long-term growth targets focused on increasing subscriber conversion and strengthening its broader brand and AI-driven strategy, which investors viewed favorably. Spotify’s “North Star” Outlook Was Music to Investors Ears
• Positive Sentiment: Spotify also brought in a new head of PR and communications, signaling a stronger focus on reputation management and clearer messaging as it expands its content and AI initiatives. Will Spotify (SPOT) Elevate Its Brand Narrative As AI Strategy Deepens Under New PR Leadership?
• Neutral Sentiment: Spotify reversed its iPhone app icon change after user backlash, a small brand-related issue that is unlikely to materially affect fundamentals. Spotify reverts iPhone app icon to original after disco-ball backlash
• Negative Sentiment: Several analysts trimmed earnings estimates slightly, including Erste Group Bank lowering FY2026 and FY2027 EPS forecasts, which adds a modest headwind to sentiment. Spotify Technology (SPOT) analyst estimate updates
• Negative Sentiment: Recent trading has also reflected broader weakness, with SPOT sliding in the latest sessions even as the market rose, suggesting investors are still cautious after a strong run. Spotify (SPOT) Stock Slides as Market Rises: Facts to Know Before You Trade

Spotify Technology Stock Down 1.1%

Shares of Spotify Technology stock opened at $480.77 on Friday. The firm has a market cap of $98.98 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 1.19 and a beta of 1.56. The business has a 50-day moving average price of $482.76 and a 200-day moving average price of $510.88. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued 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 firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business’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 earnings per share. On average, equities analysts expect that Spotify Technology will post 14.71 EPS for the current fiscal year.

Insider Activity

In other news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction dated 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 owned 69,989 shares in the company, valued at $33,560,425.39. This trade represents a 7.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas O. Staggs sold 5,477 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total value of $2,880,902.00. Following the transaction, the director owned 3,619 shares of the company’s stock, valued at approximately $1,903,594. The trade was a 60.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 111,442 shares of company stock valued at $54,647,508. 0.40% of the stock is owned by corporate insiders.

About Spotify Technology

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.