Perpetual Ltd Sells 23,824 Shares of Spotify Technology $SPOT

Perpetual Ltd cut its position in shares of Spotify Technology (NYSE:SPOT) by 11.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 178,857 shares of the company’s stock after selling 23,824 shares during the quarter. Spotify Technology makes up about 1.5% of Perpetual Ltd’s portfolio, making the stock its 20th largest holding. Perpetual Ltd’s holdings in Spotify Technology were worth $103,864,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Cigna Investments Inc. New boosted its holdings in shares of Spotify Technology by 1.0% during the 4th quarter. Cigna Investments Inc. New now owns 4,086 shares of the company’s stock worth $2,373,000 after buying an additional 41 shares in the last quarter. YANKCOM Partnership increased its stake in shares of Spotify Technology by 17.5% in the 4th quarter. YANKCOM Partnership now owns 329 shares of the company’s stock valued at $191,000 after acquiring an additional 49 shares in the last quarter. Element Squared LLC lifted its position in shares of Spotify Technology by 2.8% during the 4th quarter. Element Squared LLC now owns 3,444 shares of the company’s stock valued at $2,000,000 after acquiring an additional 95 shares during the period. Bourgeon Capital Management LLC boosted its stake in Spotify Technology by 27.6% during the fourth quarter. Bourgeon Capital Management LLC now owns 490 shares of the company’s stock worth $285,000 after acquiring an additional 106 shares in the last quarter. Finally, Signature Wealth Management Group boosted its stake in Spotify Technology by 4.0% during the fourth quarter. Signature Wealth Management Group now owns 1,420 shares of the company’s stock worth $825,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SPOT has been the subject of a number of research reports. Barclays raised their price target on shares of Spotify Technology from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Cantor Fitzgerald cut their price objective on shares of Spotify Technology from $615.00 to $525.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Weiss Ratings downgraded Spotify Technology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 26th. Erste Group Bank lowered Spotify Technology from a “buy” rating to a “hold” rating in a research report on Friday, December 5th. Finally, UBS Group dropped their price target on Spotify Technology from $850.00 to $800.00 and set a “buy” rating on the stock in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $699.00.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Coverage framing Spotify as more than a “streaming platform” underscores the company’s strategic push into podcasts, advertising and broader audio/creator initiatives — a narrative that can support longer-term revenue diversification. Don’t call Spotify a ‘streaming platform’ anymore
• Neutral Sentiment: General market stories and stock-screen lists that mention growth stocks or discounted names could bring incremental interest to Spotify but are not direct catalysts. 3 Growth Stocks With Strong Insider Stakes
• Neutral Sentiment: Another market list piece highlighting potentially undervalued stocks may draw value-seeking flows but is not a direct company update. 3 Stocks Estimated To Be Trading At A Discount Of Up To 43.2%
• Neutral Sentiment: OpenAI’s surprise media acquisition (TBPN) is getting attention; it may incrementally change competition for premium talk-show/online audio formats but the direct impact on Spotify is uncertain. OpenAI Makes Surprise Media Acquisition Ahead of IPO. Why It Will Fail.
• Neutral Sentiment: User-experience pieces (e.g., “Spotify tanked my productivity…”) highlight consumer behavior nuances but are anecdotal and unlikely to move fundamentals alone. Spotify tanked my productivity, but this music app helped me regain focus
• Negative Sentiment: Insider sale — CEO Alex Norstrom sold 5,436 shares at an average $479.51 (?$2.6M). Norstrom’s stake fell ~7.2%; markets often view insider selling as a near-term negative signal. Alex Norstrom Form 4
• Negative Sentiment: Large insider sale — CEO Gustav Soderstrom sold 20,833 shares at an average $473.52 (?$9.9M), cutting his holding by ~50%. This sizable reduction is the clearest immediate negative catalyst in today’s filings and likely weighed on sentiment. Gustav Soderstrom Form 4
• Negative Sentiment: Momentum metrics for Spotify have reportedly deteriorated even as analysts remain bullish; declining technical/momentum scores can trigger short-term selling by momentum-driven funds. Spotify stock’s momentum score tanks even as Wall Street analysts stay bullish

Spotify Technology Price Performance

SPOT opened at $488.48 on Friday. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $785.00. The firm has a market capitalization of $100.57 billion, a P/E ratio of 50.67, a PEG ratio of 1.07 and a beta of 1.70. The company’s 50-day moving average is $489.81 and its 200 day moving average is $574.26.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $2.00. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a net margin of 13.16% and a return on equity of 31.35%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.88 EPS. On average, equities research analysts expect that Spotify Technology will post 10.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Alex Norstrom sold 5,436 shares of the firm’s 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 completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. 0.40% of the stock is owned by 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.