Truist Financial Corp Sells 1,849 Shares of Spotify Technology $SPOT

Truist Financial Corp reduced its position in shares of Spotify Technology (NYSE:SPOT) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,522 shares of the company’s stock after selling 1,849 shares during the quarter. Truist Financial Corp’s holdings in Spotify Technology were worth $12,498,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPOT. Greykasell Wealth Strategies Inc. increased its stake in shares of Spotify Technology by 3,800.0% in the third quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares in the last quarter. KERR FINANCIAL PLANNING Corp purchased a new position in shares of Spotify Technology in the third quarter valued at about $26,000. Westfuller Advisors LLC bought a new position in shares of Spotify Technology in the third quarter worth about $29,000. JPL Wealth Management LLC purchased a new stake in shares of Spotify Technology during the third quarter worth about $35,000. Finally, Chilton Capital Management LLC lifted its holdings in Spotify Technology by 183.3% in the 3rd quarter. Chilton Capital Management LLC now owns 51 shares of the company’s stock worth $36,000 after purchasing an additional 33 shares in the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. JPMorgan Chase & Co. lowered their price target on Spotify Technology from $700.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Daiwa Securities Group assumed coverage on Spotify Technology in a research report on Thursday, March 26th. They set an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company cut their price target on shares of Spotify Technology from $640.00 to $580.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, KeyCorp reduced their price objective on Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $645.77.

Spotify Technology Stock Performance

Spotify Technology stock opened at $427.51 on Friday. The stock has a 50-day moving average of $496.76 and a two-hundred day moving average of $539.88. The stock has a market cap of $88.01 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55. Spotify Technology has a one year low of $405.00 and a one year high of $785.00.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.63. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.07 EPS. As a group, sell-side analysts predict that Spotify Technology will post 14.51 EPS for the current fiscal year.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify is expanding its AI features — the interactive AI DJ now supports French, German, Italian and Brazilian Portuguese, widening engagement and addressable markets outside English/Spanish. Spotify’s AI DJ now supports French, German, Italian and Brazilian Portuguese
• Positive Sentiment: Company strategy emphasizes AI-generated personal audio — management is positioning Spotify as a hub for AI audio creation and personalization, a potential new monetization route if adoption scales. Spotify wants to become the home for AI-generated personal audio
• Positive Sentiment: Earnings and analyst backdrop support upside — Spotify beat April quarter EPS and revenue estimates and retains strong margin metrics; many analysts maintain Buy ratings and meaningful modeled upside, which helps explain buying interest. MarketBeat SPOT coverage
• Neutral Sentiment: Partnership mention with Peloton creates distribution noise — referenced in Peloton coverage; could be incremental engagement but not yet a clear revenue driver for Spotify. Peloton Soars on Q3, Spotify partnership
• Neutral Sentiment: Elevated retail/institutional attention — Zacks and others note heavy search and coverage; attention can amplify moves but doesn’t change fundamentals. Investors Heavily Search SPOT
• Negative Sentiment: CEO insider sale — CEO Gustav Söderström sold 20,833 shares under a pre?arranged Rule 10b5?1 plan to cover tax withholding on vested awards; large insider sales often trigger negative sentiment despite planned/administrative reasons. Insider Selling: CEO Sells Shares
• Negative Sentiment: Investor litigation overhang — Pomerantz announced an investigation into Spotify, creating legal/regulatory uncertainty until any claims are resolved. Pomerantz investor investigation
• Negative Sentiment: Near?term price weakness — coverage notes SPOT is down ~23% YTD, which can pressure sentiment even as longer?term upside is argued by analysts. SPOT Down 23% YTD

Insider Buying and Selling

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the 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 sale, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $430.72, for a total value of $8,973,189.76. Following the sale, the chief executive officer directly owned 20,492 shares in the company, valued at approximately $8,826,314.24. This trade represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 47,102 shares of company stock worth $21,444,648. 0.40% of the stock is owned by insiders.

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.