Spotify Technology (NYSE:SPOT) Stock: Insider Gustav Soderstrom Sells 20,910 Shares

Spotify Technology (NYSE:SPOT) CEO Gustav Söderström sold 20,910 shares of Spotify Technology stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $599.37, for a total value of $12,532,826.70. Following the completion of the transaction, the chief executive officer owned 19,792 shares of the company’s stock, valued at approximately $11,862,731.04. This represents a 51.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gustav Soderstrom also recently made the following trade(s):

• On Monday, October 12th, Gustav Söderström sold 20,910 shares of Spotify Technology stock. The stock was sold at an average price of $530.13, for a total value of $11,085,018.30.
• On Monday, September 14th, Gustav Söderström sold 20,913 shares of Spotify Technology stock. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47.

Spotify Technology Stock Performance

SPOT stock traded up $13.28 during midday trading on Friday, reaching $611.79. 958,360 shares of the company traded hands, compared to its average volume of 2,169,291. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $654.68. The business has a 50 day moving average of $541.90 and a 200-day moving average of $502.45. The firm has a market capitalization of $125.96 billion, a price-to-earnings ratio of 40.56, a P/E/G ratio of 1.90 and a beta of 1.49.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $2.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.37). The company had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. Spotify Technology had a net margin of 15.74% and a return on equity of 35.64%. Spotify Technology’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.28 earnings per share. Research analysts anticipate that Spotify Technology will post 13.60 earnings per share for the current year.

More Spotify Technology News

Here’s some of the latest news about SPOT:

• Positive Sentiment: Spotify is launching audiobooks in India, with a plan offering 15 listening hours per month for Rs 199 and titles across eight languages. The expansion could broaden its paid-content offering and improve engagement in a large market, though subscriber uptake and revenue contribution remain uncertain. Spotify introduces audiobooks in India
• Positive Sentiment: Spotify’s AI DJ added nine voice options, including an Indian-accented voice, and Premium users can reduce or switch off song commentary. The personalization may help user experience and retention, but no direct financial impact was reported. Spotify adds AI DJ voices and commentary controls
• Neutral Sentiment: A Zacks article notes increased investor attention to SPOT but, based on the available description, offers no new company announcement or clear near-term catalyst. Zacks article on Spotify as a trending stock

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPOT. Winslow Capital Management LLC increased its position in Spotify Technology by 33,037.9% during the 3rd quarter. Winslow Capital Management LLC now owns 931,506 shares of the company’s stock valued at $453,997,000 after purchasing an additional 928,695 shares during the period. Cantillon Capital Management LLC bought a new stake in shares of Spotify Technology in the 1st quarter valued at about $213,047,000. Southpoint Capital Advisors LP purchased a new stake in shares of Spotify Technology in the 1st quarter worth approximately $193,964,000. Tiger Global Management LLC lifted its position in shares of Spotify Technology by 25.3% in the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company’s stock worth $766,527,000 after purchasing an additional 319,300 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Spotify Technology by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company’s stock worth $829,641,000 after purchasing an additional 286,844 shares during the period. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPOT. Barclays increased their price target on Spotify Technology from $565.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Zacks Research lowered shares of Spotify Technology from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. KeyCorp cut their price objective on shares of Spotify Technology from $680.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. Cantor Fitzgerald increased their target price on shares of Spotify Technology from $490.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $625.00 target price on shares of Spotify Technology in a research note on Friday, October 23rd. Twenty-three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Spotify Technology has an average rating of “Moderate Buy” and a consensus price target of $620.07.

About Spotify Technology

Spotify Technology operates a digital audio streaming platform offering music, podcasts and audiobooks. Listeners can use the service through a free, advertising-supported option or paid subscriptions, with features for discovering, organizing and sharing audio content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon, Spotify launched its streaming service in 2008. The company serves listeners and creators in markets around the world and provides tools and services for artists, podcasters, authors and other content partners.