SEB Asset Management AB Makes New Investment in Spotify Technology $SPOT

SEB Asset Management AB purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 74,688 shares of the company’s stock, valued at approximately $36,217,000.

A number of other hedge funds have also recently modified their holdings of SPOT. JPL Wealth Management LLC bought a new position in Spotify Technology in the 3rd quarter worth $35,000. Kemnay Advisory Services Inc. purchased a new position in Spotify Technology during the fourth quarter valued at $32,000. Newbridge Financial Services Group Inc. bought a new stake in Spotify Technology during the fourth quarter valued at about $35,000. Osbon Capital Management LLC purchased a new stake in Spotify Technology in the fourth quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB increased its position in Spotify Technology by 85.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 65 shares of the company’s stock worth $38,000 after buying an additional 30 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SPOT shares. UBS Group lowered their price objective on Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, July 10th. Wells Fargo & Company reduced their target price on shares of Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Barclays raised their target price on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Cantor Fitzgerald lifted their price target on shares of Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings lowered shares of Spotify Technology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In other news, Director Christopher P. Marshall sold 2,650 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total value of $1,377,629.00. Following the transaction, the director owned 4,039 shares of the company’s stock, valued at approximately $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $480.86, for a total transaction of $2,613,954.96. Following the completion of the transaction, the chief executive officer directly owned 67,582 shares in the company, valued at $32,497,480.52. This trade represents 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 90 days, insiders have sold 111,442 shares of company stock valued at $54,757,553. Company insiders own 0.40% of the company’s stock.

Spotify Technology Trading Up 0.2%

NYSE:SPOT opened at $478.86 on Monday. The stock has a 50-day moving average price of $476.38 and a 200 day moving average price of $491.10. The stock has a market capitalization of $98.59 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.18 and a beta of 1.56. Spotify Technology has a 12-month low of $405.00 and a 12-month 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, topping 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 company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the previous year, the firm earned $1.07 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that Spotify Technology will post 14.51 earnings per share for the current fiscal year.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify unveiled a new AI assistant that lets users find songs, build playlists, and explore podcasts using natural language, which could improve engagement and support premium user growth. Spotify’s new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and a $600 price target ahead of earnings, signaling continued confidence in Spotify’s long-term growth and AI-related product roadmap. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Neutral Sentiment: Spotify was highlighted in an investor letter as having robust results, suggesting institutional investors still see the company as a strong operator despite recent market noise. Market Overlooked Spotify Technology S.A. (SPOT) Despite Robust Results
• Neutral Sentiment: Spotify partnered with Back Market for a back-to-school promotion, expanding brand visibility but with limited direct financial impact. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase – And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Zacks said Spotify’s growth story remains intact, but warned that a rich valuation, high royalty costs, and intensifying competition make the risk/reward less attractive. Spotify’s Growth Story Is Intact, but Faces Valuation Threat
• Negative Sentiment: Spotify also faced criticism after Lorde slammed the company over sloppy AI-generated song descriptions, adding a reputational headwind around its AI rollout. Lorde slams Spotify over sloppy AI-generated song descriptions

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.