Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,622 Shares of Spotify Technology $SPOT

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its holdings in shares of Spotify Technology (NYSE:SPOT) by 6.7% in the first quarter, HoldingsChannel reports. The fund owned 36,274 shares of the company’s stock after selling 2,622 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Spotify Technology were worth $17,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SPOT. Principal Financial Group Inc. grew its position in Spotify Technology by 12.9% during the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock valued at $374,672,000 after purchasing an additional 73,722 shares during the last quarter. City Holding Co. grew its holdings in shares of Spotify Technology by 2,515.9% during the fourth quarter. City Holding Co. now owns 5,598 shares of the company’s stock valued at $3,251,000 after buying an additional 5,384 shares during the last quarter. Robeco Schweiz AG increased its position in shares of Spotify Technology by 37.6% during the fourth quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock valued at $10,769,000 after acquiring an additional 5,071 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Spotify Technology during the fourth quarter valued at approximately $1,162,000. Finally, Robinhood Asset Management LLC purchased a new position in Spotify Technology in the 4th quarter worth approximately $8,233,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Insider Buying and Selling at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the sale, the director owned 3,619 shares of the company’s stock, valued at approximately $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Alex Norstrom sold 5,436 shares of the company’s 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 owned 67,582 shares of the company’s stock, valued at approximately $32,497,480.52. The trade was a 7.44% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 111,442 shares of company stock worth $54,757,553. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SPOT. Rosenblatt Securities reduced their target price on Spotify Technology from $534.00 to $531.00 and set a “neutral” rating for the company in a report on Thursday. Cantor Fitzgerald lifted their price objective on Spotify Technology from $430.00 to $520.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Pivotal Research dropped their price target on shares of Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. Finally, Guggenheim decreased their price objective on shares of Spotify Technology from $600.00 to $565.00 and set a “buy” rating for the company in a 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $638.58.

Spotify Technology News Roundup

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

• Positive Sentiment: UBS expects Spotify to report accelerating Q2 revenue growth of about 15.6% on a constant-currency basis, with results likely in line with management guidance, reinforcing confidence in the company’s near-term fundamentals. Spotify on track for double-digit growth, UBS says ahead of Q2
• Positive Sentiment: UBS maintained a buy rating on Spotify Technology (SPOT), signaling continued analyst support despite a lower price target. UBS lowers Spotify price target to $690
• Neutral Sentiment: Several analysts also adjusted price targets this week, including Rosenblatt and Wells Fargo, but the ratings stayed mostly neutral-to-bullish, suggesting expectations have shifted more than the underlying thesis. Spotify analyst price target changes
• Neutral Sentiment: Recent insider share sales by executives, including the CEO and co-CEO, drew attention, but the filings indicate the transactions were tied to tax withholding or pre-arranged trading plans, which softens the negative signal. Spotify CEO sells shares
• Negative Sentiment: Some market commentary highlighted insider selling and valuation concerns, which could pressure sentiment if investors decide Spotify’s growth is already priced in. Spotify stock could be 35% undervalued despite fraud stream removals

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $480.46 on Monday. The stock’s 50-day simple moving average is $471.10 and its two-hundred day simple moving average is $494.73. The stock has a market capitalization of $98.92 billion, a price-to-earnings ratio of 38.28, a PEG ratio of 1.18 and a beta of 1.56. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $748.30.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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 firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, equities analysts forecast that Spotify Technology will post 14.62 earnings per share for the current fiscal 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.