Parallel Advisors LLC Acquires 1,124 Shares of Spotify Technology $SPOT

Parallel Advisors LLC lifted its holdings in Spotify Technology (NYSE:SPOT) by 33.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,514 shares of the company’s stock after acquiring an additional 1,124 shares during the quarter. Parallel Advisors LLC’s holdings in Spotify Technology were worth $2,189,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in Spotify Technology by 1.9% during the fourth quarter. State Street Corp now owns 4,712,249 shares of the company’s stock valued at $2,736,450,000 after buying an additional 89,951 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Spotify Technology by 4.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,869,472 shares of the company’s stock worth $2,247,042,000 after buying an additional 149,479 shares during the period. Capital World Investors boosted its position in Spotify Technology by 4.9% during the 4th quarter. Capital World Investors now owns 2,863,821 shares of the company’s stock valued at $1,663,024,000 after acquiring an additional 133,108 shares in the last quarter. Fisher Asset Management LLC boosted its position in Spotify Technology by 2.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,665,512 shares of the company’s stock valued at $1,547,890,000 after acquiring an additional 62,887 shares in the last quarter. Finally, Coatue Management LLC increased its holdings in shares of Spotify Technology by 35.9% in the 4th quarter. Coatue Management LLC now owns 2,450,881 shares of the company’s stock valued at $1,423,251,000 after acquiring an additional 647,708 shares during the period. 84.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. UBS Group reduced their price target on Spotify Technology from $735.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. raised their price objective on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. The Goldman Sachs Group cut their target price on Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Citizens Jmp boosted their target price on shares of Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a report on Friday, May 22nd. Finally, Wells Fargo & Company decreased their price target on shares of Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $630.00.

Insider Activity at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total value of $2,880,902.00. Following the completion of the sale, the director directly owned 3,619 shares in the company, valued at approximately $1,903,594. This trade represents a 60.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $525.73, for a total value of $18,600,327.40. Following the completion of the sale, the director directly owned 6,383 shares of the company’s stock, valued at approximately $3,355,734.59. This represents a 84.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,878 shares of company stock worth $59,081,110 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Spotify Technology Trading Down 1.3%

Shares of SPOT opened at $475.78 on Friday. The firm has a market cap of $97.95 billion, a PE ratio of 29.63, a P/E/G ratio of 1.21 and a beta of 1.58. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $748.30. The stock has a fifty day moving average price of $483.16 and a 200-day moving average price of $485.09.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Spotify surpassed 300 million Premium subscribers and reported 777 million monthly active users, up 12% year over year. Revenue increased 14% to approximately €4.78 billion, while net income reached €545 million, supporting the company’s long-term scale and monetization story. Spotify reaches 300 million paying subscribers
• Positive Sentiment: Management is emphasizing monetization through changes to the free tier, add-ons and automated advertising. These initiatives are intended to increase revenue per user and convert more free listeners into paid subscribers, even if monthly-active-user growth slows. Spotify free-tier changes and subscriber growth
• Positive Sentiment: Analyst sentiment remains broadly favorable. Guggenheim reaffirmed a Buy rating with a $565 price target, while Cantor Fitzgerald raised its target to $530, although Cantor maintained a Neutral rating.
• Neutral Sentiment: Spotify is expanding AI products, including consent-based music remix and cover tools and planned AI-generated podcasts in Germany that may use information from users’ calendars and email. The products could increase engagement and create new revenue streams, but raise privacy, licensing and cost concerns. Spotify AI podcasts in Germany
• Negative Sentiment: Second-quarter adjusted earnings missed expectations, with roughly $3.00 per share versus estimates of $3.16–$3.27. Higher marketing, cloud-computing and AI expenses offset record margins, subscriber gains and stronger cash flow. Spotify Q2 earnings miss
• Negative Sentiment: Third-quarter guidance calls for 788 million monthly active users, implying the slowest quarterly MAU growth since 2018. Slower growth in North America and Europe, along with profit guidance below some analyst expectations, is pressuring the valuation.
• Negative Sentiment: Co-CEO Gustav Soderstrom sold approximately $10.6 million of stock, reducing his direct holdings by about 51%, while CEO Alex Norstrom sold 5,436 shares. Both sales were disclosed as tax-withholding transactions tied to vested equity awards, limiting but not eliminating their negative signaling effect. Spotify co-CEO stock sale

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.