Bank of America Corp DE Sells 243,550 Shares of Spotify Technology $SPOT

Bank of America Corp DE cut its position in shares of Spotify Technology (NYSE:SPOT) by 12.2% during the 1st quarter, Holdings Channel reports. The firm owned 1,759,697 shares of the company’s stock after selling 243,550 shares during the quarter. Bank of America Corp DE’s holdings in Spotify Technology were worth $853,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Portus Wealth Advisors LLC bought a new position in Spotify Technology during the first quarter worth about $32,000. Kemnay Advisory Services Inc. bought a new stake in Spotify Technology in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC lifted its position in shares of Spotify Technology by 423.1% in the first quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock valued at $33,000 after buying an additional 55 shares during the last quarter. Palladiem LLC acquired a new stake in shares of Spotify Technology in the first quarter valued at approximately $34,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Spotify Technology during the 4th quarter worth approximately $35,000. 84.09% of the stock is owned by institutional investors.

Key Spotify Technology News

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

• Positive Sentiment: Spotify enters the earnings release with a substantial user base of 761 million monthly active users and 293 million subscribers. Investors will look for continued subscriber additions, low churn and improved monetization. Wall Street projections for Spotify’s second-quarter metrics
• Positive Sentiment: New product initiatives could strengthen Spotify’s long-term growth story, including a “Campaign Lift” measurement tool for advertisers, conversational discovery features, video and audiobooks, and the new User Notes personalization feature. Spotify is also reportedly gaining ground on South Korea’s Melon, suggesting potential international share gains. Spotify adds Campaign Lift to Discovery Mode
• Neutral Sentiment: Analyst sentiment remains broadly constructive: recent reports include buy or overweight ratings, and the median 12-month price target is reported at $610. However, target estimates vary widely, indicating uncertainty around the earnings outlook and valuation. Is Spotify fully valued going into earnings?
• Negative Sentiment: Erste Group Bank lowered its FY2026 EPS forecast to $14.24 from $14.35, below the $14.45 consensus estimate. KeyCorp also reduced its second-quarter earnings estimate and issued a FY2028 forecast, reinforcing concerns about near-term earnings momentum. Analyst estimate changes for Spotify
• Negative Sentiment: A recent analyst target reduction highlighted risks to gross-margin stability, operating-expense growth, advertising momentum and the pace at which AI-driven features generate revenue. Spotify’s product investments may support future growth but could weigh on profitability before producing meaningful returns.
• Negative Sentiment: Insider activity has been one-sided, with 31 reported open-market sales and no purchases over the past six months. Institutional positioning was mixed, with 609 investors adding shares and 677 reducing positions, adding to caution ahead of the report. Why Spotify stock is down today

Insider Transactions at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total value of $8,973,189.76. Following the transaction, the chief executive officer directly owned 20,492 shares of the company’s stock, valued at $8,826,314.24. This trade represents a 50.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 4,039 shares of the company’s stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over 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.

Spotify Technology Price Performance

Spotify Technology stock opened at $501.45 on Friday. The firm has a market cap of $103.24 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.30 and a beta of 1.56. The stock’s fifty day moving average price is $486.15 and its two-hundred day moving average price is $486.45. Spotify Technology has a one year low of $405.00 and a one year high of $748.30.

Spotify Technology (NYSE:SPOT) last posted 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 return on equity of 35.73% and a net margin of 15.56%.The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Spotify Technology’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts expect that Spotify Technology will post 14.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SPOT shares. Canaccord Genuity Group decreased their target price on Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Cantor Fitzgerald raised their price target on Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. The Goldman Sachs Group reduced their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Guggenheim decreased their price objective on shares of Spotify Technology from $600.00 to $565.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Finally, Citizens Jmp increased their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $629.73.

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.