Spotify Technology $SPOT Shares Sold by Midwest Trust Co

Midwest Trust Co trimmed its position in shares of Spotify Technology (NYSE:SPOT) by 21.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,792 shares of the company’s stock after selling 2,656 shares during the quarter. Midwest Trust Co’s holdings in Spotify Technology were worth $4,748,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Spotify Technology by 12.9% in the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after buying an additional 73,722 shares during the period. City Holding Co. grew its stake in shares of Spotify Technology by 2,515.9% in the fourth quarter. City Holding Co. now owns 5,598 shares of the company’s stock worth $3,251,000 after acquiring an additional 5,384 shares in the last quarter. Robeco Schweiz AG increased its position in shares of Spotify Technology by 37.6% during the fourth quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock worth $10,769,000 after acquiring an additional 5,071 shares during the period. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Spotify Technology during the fourth quarter worth $1,162,000. Finally, Robinhood Asset Management LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $8,233,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark decreased their target price on Spotify Technology from $760.00 to $695.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Wells Fargo & Company cut their price target on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday. Weiss Ratings lowered Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. The Goldman Sachs Group decreased their price objective 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. Finally, Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research report on Sunday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Spotify Technology Trading Up 0.1%

Spotify Technology stock opened at $480.46 on Monday. The stock has a market cap of $98.92 billion, a P/E ratio of 38.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56. The company has a fifty day simple moving average of $471.10 and a 200-day simple moving average of $494.73. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $748.30.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. Spotify Technology’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Spotify Technology will post 14.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $480.86, for a total value of $2,613,954.96. Following the transaction, the chief executive officer owned 67,582 shares in the company, valued at approximately $32,497,480.52. This represents a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas O. Staggs sold 5,477 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total value of $2,880,902.00. Following the sale, the director directly owned 3,619 shares in the company, valued at $1,903,594. This trade represents a 60.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 111,442 shares of company stock worth $54,757,553. Corporate insiders own 0.40% of the company’s stock.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: UBS expects Spotify to report accelerating Q2 revenue growth of about 15.6% on a constant-currency basis, with results likely in line with management guidance, reinforcing confidence in the company’s near-term fundamentals. Spotify on track for double-digit growth, UBS says ahead of Q2
• Positive Sentiment: UBS maintained a buy rating on Spotify Technology (SPOT), signaling continued analyst support despite a lower price target. UBS lowers Spotify price target to $690
• Neutral Sentiment: Several analysts also adjusted price targets this week, including Rosenblatt and Wells Fargo, but the ratings stayed mostly neutral-to-bullish, suggesting expectations have shifted more than the underlying thesis. Spotify analyst price target changes
• Neutral Sentiment: Recent insider share sales by executives, including the CEO and co-CEO, drew attention, but the filings indicate the transactions were tied to tax withholding or pre-arranged trading plans, which softens the negative signal. Spotify CEO sells shares
• Negative Sentiment: Some market commentary highlighted insider selling and valuation concerns, which could pressure sentiment if investors decide Spotify’s growth is already priced in. Spotify stock could be 35% undervalued despite fraud stream removals

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.