Spotify Technology $SPOT Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC lifted its position in shares of Spotify Technology (NYSE:SPOT) by 387.9% during the first quarter, Holdings Channel reports. The firm owned 2,064 shares of the company’s stock after acquiring an additional 1,641 shares during the quarter. Diversify Wealth Management LLC’s holdings in Spotify Technology were worth $916,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Spotify Technology in the 3rd quarter valued at $26,000. Portus Wealth Advisors LLC purchased a new stake in Spotify Technology in the 1st quarter valued at approximately $32,000. Kemnay Advisory Services Inc. acquired a new position in Spotify Technology during the fourth quarter worth $32,000. Whipplewood Advisors LLC increased its holdings in shares of Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after purchasing an additional 55 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Spotify Technology in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify rolled out a new AI assistant that helps users search music, create playlists, and discover podcasts by speaking naturally, highlighting product innovation and potentially boosting user engagement. Spotify’s new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and $600 price target, citing upcoming catalysts such as AI remixing features and a possible Warner Music Group remixing agreement, which supports a bullish longer-term view. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to its free tier in several major markets, a move that could widen adoption among families and improve the platform’s ecosystem. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Back Market announced new partnerships with Duolingo and Spotify as part of its back-to-school campaign, but the announcement appears more promotional than financially material for SPOT. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase – And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Singer Lorde criticized Spotify over sloppy AI-generated song descriptions, adding to concerns that Spotify’s AI rollout could face backlash around quality and trust. Lorde slams Spotify over sloppy AI-generated song descriptions
• Negative Sentiment: Recent market coverage noted that Spotify dipped more than the broader market, suggesting investors are still focused on valuation and near-term execution despite the company’s strong fundamentals. Why Spotify (SPOT) Dipped More Than Broader Market Today

Insiders Place Their Bets

In related 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 completion of the sale, the chief executive officer directly owned 67,582 shares of the company’s stock, valued at approximately $32,497,480.52. This represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the sale, the director directly owned 4,039 shares of the company’s stock, valued at $2,099,714.54. This trade represents a 39.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 111,442 shares of company stock worth $54,757,553 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research reports. UBS Group cut their price target on Spotify Technology from $735.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Wells Fargo & Company lowered their price objective on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Citizens Jmp lifted their price target on shares of Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research report on Friday, May 22nd. Finally, Pivotal Research decreased their price target on shares of Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $638.58.

Spotify Technology Trading Down 2.0%

Shares of Spotify Technology stock opened at $475.67 on Friday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $748.30. The stock has a market capitalization of $97.93 billion, a price-to-earnings ratio of 37.90, a PEG ratio of 1.19 and a beta of 1.56. The business’s 50 day simple moving average is $475.16 and its 200-day simple moving average is $491.82.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The business 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 revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. Sell-side analysts predict that Spotify Technology will post 14.59 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.