2,644 Shares in Spotify Technology $SPOT Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Spotify Technology (NYSE:SPOT) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,644 shares of the company’s stock, valued at approximately $1,535,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SPOT. Sivia Capital Partners LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $312,000. Jump Financial LLC raised its holdings in shares of Spotify Technology by 5.2% in the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock worth $869,000 after purchasing an additional 56 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $178,000. NewEdge Advisors LLC raised its holdings in shares of Spotify Technology by 36.9% in the 2nd quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock worth $9,707,000 after purchasing an additional 3,412 shares in the last quarter. Finally, Glenview Trust co bought a new stake in shares of Spotify Technology in the 2nd quarter worth approximately $298,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify and Universal Music Group announced licensing agreements that will let Premium users create “responsible” AI-generated covers and remixes, with participating artists and songwriters set to share in the revenue. Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
• Positive Sentiment: At its first Investor Day since 2022, Spotify updated its 2030 outlook, targeting mid-teens annual revenue growth and gross margins of 35% to 40%, signaling stronger profitability and cash-flow potential. Spotify stock pops on guidance at first investor day since 2022
• Positive Sentiment: Spotify announced new fan-engagement features, including reserving concert tickets for top fans, which could improve retention and create additional value for artists and subscribers. Spotify Will Set Aside Concert Tickets for Artists’ Superfans
• Positive Sentiment: The company also introduced additional AI tools for podcasts and audiobooks, broadening its content-creation ecosystem and potentially opening new subscription and creator revenue streams. Spotify adds AI-powered Q&A and briefing generation features to podcasts
• Neutral Sentiment: Canada is changing rules that could raise costs for Spotify and other streaming platforms, but this appears to be a secondary headline compared with the Investor Day and AI announcements. Netflix, Spotify to face higher costs as Canada changes rules
• Negative Sentiment: A law firm also said it is investigating claims on behalf of Spotify investors, which could add legal overhang if the probe develops further. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Spotify Technology S.A. – SPOT

Insider Buying and Selling

In related news, CEO Alex Norstrom sold 5,436 shares of the business’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 transaction, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer directly owned 20,609 shares in the company, valued at $9,758,773.68. The trade was a 50.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,102 shares of company stock worth $21,444,648 over the last ninety days. 0.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SPOT has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Guggenheim dropped their target price 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. Rosenblatt Securities dropped their target price on shares of Spotify Technology from $670.00 to $500.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. UBS Group dropped their target price on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Canaccord Genuity Group dropped their target price on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $645.77.

Spotify Technology Price Performance

Spotify Technology stock opened at $490.66 on Friday. The firm’s 50 day simple moving average is $479.71 and its 200-day simple moving average is $523.90. The company has a market cap of $101.02 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week 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. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the firm posted $1.07 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that Spotify Technology will post 14.87 EPS for the current fiscal year.

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.