Spotify Technology $SPOT Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich decreased its stake in Spotify Technology (NYSE:SPOT) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,340 shares of the company’s stock after selling 1,329 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Spotify Technology were worth $19,279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Greykasell Wealth Strategies Inc. grew its stake in shares of Spotify Technology by 3,800.0% during the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company’s stock worth $27,000 after purchasing an additional 38 shares during the period. KERR FINANCIAL PLANNING Corp purchased a new stake in Spotify Technology during the third quarter worth $26,000. Westfuller Advisors LLC acquired a new stake in Spotify Technology during the third quarter valued at $29,000. JPL Wealth Management LLC acquired a new stake in Spotify Technology during the third quarter valued at $35,000. Finally, Chilton Capital Management LLC increased its holdings in Spotify Technology by 183.3% in the third quarter. Chilton Capital Management LLC now owns 51 shares of the company’s stock valued at $36,000 after buying an additional 33 shares in the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of analyst reports. Barclays dropped their target price on Spotify Technology from $600.00 to $500.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Benchmark lowered their price target on Spotify Technology from $760.00 to $695.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Daiwa Securities Group assumed coverage on Spotify Technology in a report on Thursday, March 26th. They issued an “outperform” rating and a $535.00 price objective on the stock. Weiss Ratings upgraded Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. Finally, Morgan Stanley started coverage on Spotify Technology in a research note on Monday, April 13th. They set an “overweight” rating and a $630.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.77.

Spotify Technology Trading Up 0.4%

Shares of Spotify Technology stock opened at $432.47 on Friday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The firm has a market capitalization of $89.04 billion, a PE ratio of 34.46, a P/E/G ratio of 1.04 and a beta of 1.55. The firm’s 50-day moving average price is $489.44 and its 200 day moving average price is $531.26.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the business earned $1.07 EPS. Spotify Technology’s quarterly revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that Spotify Technology will post 14.87 EPS for the current fiscal year.

Insider Activity at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total transaction of $8,973,189.76. Following the sale, the chief executive officer owned 20,492 shares of the company’s stock, valued at $8,826,314.24. The trade was a 50.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norstrom sold 5,436 shares of the company’s 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 of the company’s stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 47,102 shares of company stock valued at $21,444,648 over the last quarter. 0.40% of the stock is owned by company insiders.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Spotify said it will adopt Apple’s HLS video streaming technology for podcasts, allowing Spotify-hosted video shows to be distributed and monetized on Apple Podcasts with less friction for creators. That could broaden reach, improve creator tools, and make Spotify’s podcast ecosystem more attractive. TechCrunch article
• Positive Sentiment: The cross-platform video podcast move may help Spotify strengthen engagement and monetize more content across both Spotify and Apple Podcasts, supporting its long-term platform strategy. 9to5Mac article
• Neutral Sentiment: Spotify also cut subscription prices in India and discontinued Premium Lite there, a sign of aggressive international pricing that could help user growth but may pressure near-term revenue per user. Moneycontrol article
• Negative Sentiment: Investor sentiment may also be weighed by the recent Q1 disappointment, with weaker-than-expected premium subscriber additions and advertising revenue, plus a securities investigation tied to those results. Yahoo Finance article

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.