L & S Advisors Inc Sells 1,820 Shares of Spotify Technology $SPOT

L & S Advisors Inc lowered its holdings in Spotify Technology (NYSE:SPOT) by 52.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,635 shares of the company’s stock after selling 1,820 shares during the quarter. L & S Advisors Inc’s holdings in Spotify Technology were worth $949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. iA Global Asset Management Inc. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $32,252,000. Qsemble Capital Management LP bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $3,247,000. Phoenix Financial Ltd. bought a new stake in shares of Spotify Technology in the 4th quarter valued at about $948,000. Bessemer Group Inc. raised its holdings in shares of Spotify Technology by 6.8% in the 4th quarter. Bessemer Group Inc. now owns 729,392 shares of the company’s stock valued at $423,564,000 after purchasing an additional 46,753 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Spotify Technology by 12.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 489,126 shares of the company’s stock valued at $284,039,000 after purchasing an additional 54,737 shares in the last quarter. Institutional investors own 84.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings raised Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Wall Street Zen lowered Spotify Technology from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. The Goldman Sachs Group reduced their price target on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Daiwa Securities Group assumed coverage on Spotify Technology in a research report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price target for the company. Finally, Barclays reduced their price target on Spotify Technology from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.77.

Insider Transactions at Spotify Technology

In other news, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the transaction, the chief executive officer directly owned 20,609 shares of the company’s stock, valued at approximately $9,758,773.68. This represents a 50.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the completion of the transaction, the chief executive officer directly owned 69,989 shares in the company, valued at $33,560,425.39. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,102 shares of company stock worth $21,444,648 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify said it will adopt Apple’s HLS video technology for podcasts, a move that should make it easier for creators to distribute and monetize video podcasts across platforms, including Apple Podcasts. That could broaden Spotify-hosted content’s reach and support engagement with creators. TechCrunch article
• Positive Sentiment: Related coverage from multiple outlets emphasized that Spotify’s hosting platforms are adopting Apple’s video podcast technology, reinforcing the idea that the company is improving creator tools and cross-platform publishing. MacRumors article
• Neutral Sentiment: Spotify also cut prices for its Premium Standard tier in India and discontinued Premium Lite there. The move could help subscriber growth in a key market, but it may also pressure average revenue per user, so the overall stock impact is unclear. Moneycontrol article
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Spotify investors, adding a potential legal and headline-risk overhang that can weigh on sentiment. PR Newswire article

Spotify Technology Trading Down 0.0%

Shares of Spotify Technology stock opened at $436.74 on Monday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00. The firm has a market capitalization of $89.92 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 1.05 and a beta of 1.55. The firm’s 50 day simple moving average is $487.47 and its two-hundred day simple moving average is $529.70.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.63. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the business posted $1.07 EPS. Spotify Technology’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Spotify Technology will post 14.87 EPS for the current fiscal year.

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.