Concurrent Investment Advisors LLC Buys 1,785 Shares of Spotify Technology $SPOT

Concurrent Investment Advisors LLC lifted its stake in Spotify Technology (NYSE:SPOT) by 195.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,698 shares of the company’s stock after buying an additional 1,785 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Spotify Technology were worth $1,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPOT. Capital World Investors raised its stake in shares of Spotify Technology by 40.7% in the third quarter. Capital World Investors now owns 2,730,713 shares of the company’s stock worth $1,906,260,000 after buying an additional 789,755 shares during the period. Capital Research Global Investors bought a new position in shares of Spotify Technology in the third quarter worth about $512,190,000. Principal Financial Group Inc. raised its stake in shares of Spotify Technology by 3,534.9% in the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company’s stock worth $398,889,000 after buying an additional 555,752 shares during the period. Alliancebernstein L.P. raised its stake in shares of Spotify Technology by 157.5% in the third quarter. Alliancebernstein L.P. now owns 699,930 shares of the company’s stock worth $488,551,000 after buying an additional 428,156 shares during the period. Finally, Scge Management L.P. bought a new position in shares of Spotify Technology in the second quarter worth about $250,153,000. Institutional investors own 84.09% of the company’s stock.

Wall Street Analyst Weigh In

SPOT has been the topic of several recent research reports. Daiwa Securities Group initiated coverage on Spotify Technology in a research note on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Spotify Technology from $640.00 to $580.00 and set an “overweight” rating on the stock in a research note on Wednesday. Moffett Nathanson began coverage on Spotify Technology in a research note on Tuesday, January 27th. They set a “neutral” rating and a $487.00 target price on the stock. Benchmark decreased their target price on Spotify Technology from $760.00 to $695.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley began coverage on Spotify Technology in a research note on Monday, April 13th. They set an “overweight” rating and a $630.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $647.68.

Key Spotify Technology News

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

• Positive Sentiment: Q1 beat on users, revenue and operating income — Spotify reported stronger-than-expected MAU and premium subscriber growth and topped EPS/revenue estimates, which supports the long-term growth story. Business Wire Q1 Release
• Positive Sentiment: Strategic content expansion — Spotify added Peloton fitness classes to Premium globally and is pushing into video/fitness content, which could diversify revenue and improve engagement/margins over time. Bloomberg: Peloton Partnership
• Positive Sentiment: Universal Music’s capital moves include a larger buyback — Universal said it will sell half its Spotify stake but also expand its buyback program to €1bn; the buyback component is supportive for shareholder value even as the stake sale raises near-term supply concerns. Yahoo: Universal Music
• Positive Sentiment: Analyst support remains in places — some firms reaffirmed buy/overweight ratings and at least one (Rosenblatt) issued a contrarian upgrade; Erste even nudged up EPS forecasts, showing disagreement among analysts about the near-term pullback.
• Neutral Sentiment: AI spending: near-term drag, possible long-term catalyst — Management’s heavy AI investments are weighing on short-term margins, but some analysts argue they could trigger a future upgrade cycle if they accelerate product/monetization. MSN: AI investments
• Neutral Sentiment: Content/labeling debate around AI-generated music — User-created tools and questions about labeling AI music are getting attention; this is a reputational/regulatory issue to watch but not an immediate earnings driver. Digital Trends: AI labeling
• Negative Sentiment: Weak Q2 guidance is the main catalyst for the recent selloff — Spotify guided Q2 operating income and premium-subscriber growth below Street expectations, which triggered sharp downside in sentiment despite the Q1 beat. Reuters: Q2 guidance
• Negative Sentiment: Ad-revenue softness and slowing growth worries — Advertiser revenue missed expectations/appears soft, raising concerns about near-term top-line momentum and valuation. MarketBeat: Ad slump
• Negative Sentiment: Broad analyst target cuts — Multiple firms trimmed price targets (Cantor Fitzgerald, Barclays, JPMorgan, Goldman, Wells Fargo, Guggenheim and others), reflecting lower near-term profit expectations and boosting selling pressure. 247WallSt: Price target cuts

Spotify Technology Trading Up 2.4%

Shares of SPOT opened at $444.49 on Thursday. The business’s 50 day moving average is $500.58 and its 200 day moving average is $547.72. The company has a market capitalization of $91.51 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 1.08 and a beta of 1.70. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Wednesday, February 11th. The company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $2.00. The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $1.88 EPS. Equities research analysts predict that Spotify Technology will post 15.73 earnings per share for the current year.

Insider Activity at Spotify Technology

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 69,989 shares in the company, valued at $33,560,425.39. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm’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 value of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares of the company’s stock, valued at $9,758,773.68. This represents a 50.27% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.40% of the company’s stock.

About Spotify Technology

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.