Wesbanco Bank Inc. Grows Stock Holdings in Spotify Technology $SPOT

Wesbanco Bank Inc. boosted its position in Spotify Technology (NYSE:SPOT) by 38.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,129 shares of the company’s stock after acquiring an additional 1,688 shares during the period. Wesbanco Bank Inc.’s holdings in Spotify Technology were worth $3,559,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in shares of Spotify Technology by 88.2% in the 4th quarter. International Assets Investment Management LLC now owns 732 shares of the company’s stock valued at $425,000 after purchasing an additional 343 shares during the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $226,000. ASR Vermogensbeheer N.V. boosted its holdings in shares of Spotify Technology by 628.4% in the 4th quarter. ASR Vermogensbeheer N.V. now owns 26,144 shares of the company’s stock valued at $15,182,000 after purchasing an additional 22,555 shares during the last quarter. Bluebird Wealth Management LLC acquired a new position in shares of Spotify Technology in the 4th quarter valued at $2,199,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Spotify Technology by 7.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,799 shares of the company’s stock valued at $2,206,000 after purchasing an additional 273 shares during the last quarter. 84.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction 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 owned 20,609 shares in the company, valued at approximately $9,758,773.68. The trade was a 50.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction 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 sale, the chief executive officer directly owned 69,989 shares in the company, valued at $33,560,425.39. This trade represents a 7.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 47,102 shares of company stock worth $21,444,648 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SPOT. Barclays decreased their price target on shares of Spotify Technology from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Daiwa Securities Group began coverage on shares of Spotify Technology in a report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price target on the stock. Cantor Fitzgerald decreased their price target on shares of Spotify Technology from $525.00 to $430.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Rosenblatt Securities decreased their price target 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. Finally, Moffett Nathanson began coverage on shares of Spotify Technology in a report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.77.

Spotify Technology Trading Down 2.2%

NYSE:SPOT opened at $417.86 on Friday. The firm has a market capitalization of $86.03 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 1.03 and a beta of 1.55. The firm’s fifty day simple moving average is $496.76 and its 200 day simple moving average is $539.88. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.41 by $0.63. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $1.07 EPS. On average, analysts predict that Spotify Technology will post 14.59 earnings per share for the current year.

Key Spotify Technology News

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

• Positive Sentiment: Spotify continues to draw bullish analyst attention, with recent commentary highlighting meaningful upside from current levels and noting that most covering analysts still rate the stock a Buy. Spotify Technology (SPOT) Down 23% YTD, Should You Buy Before the Next Bull Run?
• Positive Sentiment: Spotify is expanding its AI push, including adding French, German, Italian, and Brazilian Portuguese support to its AI DJ feature, which could broaden engagement and strengthen product differentiation. Spotify’s AI DJ now supports French, German, Italian and Brazilian Portuguese
• Positive Sentiment: Management is also leaning into AI-generated personal audio, suggesting a potential new growth avenue and longer-term monetization opportunity. Spotify wants to become the home for AI-generated personal audio
• Positive Sentiment: The company’s recent earnings report was solid, with an earnings beat and revenue slightly above expectations, reinforcing the case that fundamentals remain healthy.
• Neutral Sentiment: Spotify is receiving more investor attention online, which can increase trading interest but does not by itself change the business outlook. Investors Heavily Search Spotify Technology (SPOT): Here is What You Need to Know
• Neutral Sentiment: Coverage of a Peloton earnings beat mentioned a Spotify partnership, but that looks more like incremental visibility than a major near-term driver for Spotify. Peloton Soars 11% on Q3 Profit Turnaround, Raised Guidance, Spotify Partnership
• Negative Sentiment: CEO Gustav Söderström sold 20,833 shares in a pre-arranged 10b5-1 sale, which can weigh on sentiment even though it was tied to tax withholding on vesting awards. Insider sale by Gustav Söderström
• Negative Sentiment: Pomerantz LLP announced an investor investigation into Spotify, adding a legal overhang that could pressure the shares until more details emerge. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Spotify Technology S.A. – SPOT

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.