Public Employees Retirement System of Ohio Takes Position in Spotify Technology $SPOT

Public Employees Retirement System of Ohio bought a new stake in Spotify Technology (NYSE:SPOT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 74,690 shares of the company’s stock, valued at approximately $34,292,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Sivia Capital Partners LLC purchased a new stake in shares of Spotify Technology in the 2nd quarter valued at $312,000. Jump Financial LLC increased its stake in shares of Spotify Technology by 5.2% in the second quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock worth $869,000 after acquiring an additional 56 shares during the period. Cary Street Partners Financial LLC purchased a new position in shares of Spotify Technology during the second quarter worth $178,000. NewEdge Advisors LLC raised its holdings in shares of Spotify Technology by 36.9% during the second quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock worth $9,707,000 after purchasing an additional 3,412 shares during the last quarter. Finally, Glenview Trust co acquired a new position in Spotify Technology during the second quarter valued at $298,000. Hedge funds and other institutional investors own 84.09% of the company’s stock.

Insider Activity at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $496.52, for a total value of $10,344,001.16. Following the sale, the chief executive officer owned 20,376 shares of the company’s stock, valued at $10,117,091.52. This trade represents a 50.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the transaction, the chief executive officer owned 66,773 shares of the company’s stock, valued at $33,526,723.30. This represents a 7.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 73,371 shares of company stock worth $36,222,251. Company insiders own 0.40% of the company’s stock.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $548.35 on Friday. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $745.00. The firm has a market capitalization of $112.89 billion, a PE ratio of 34.14, a P/E/G ratio of 1.29 and a beta of 1.58. The business’s 50 day moving average price is $493.67 and its 200-day moving average price is $488.71.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, August 4th. The company reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). Spotify Technology had a return on equity of 41.39% and a net margin of 18.44%.The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same period last year, the business earned ($0.42) earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts expect that Spotify Technology will post 14.3 earnings per share for the current year.

Analysts Set New Price Targets

SPOT has been the topic of a number of recent research reports. Morgan Stanley upped their target price on Spotify Technology from $590.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Citizens Jmp lifted their price target on Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research report on Friday, May 22nd. Cantor Fitzgerald boosted their price target on Spotify Technology from $510.00 to $530.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Rosenblatt Securities lowered their price objective on Spotify Technology from $531.00 to $527.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings raised shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $609.05.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: A bullish analysis argues that Spotify’s improving fundamentals and stock price well below last year’s peak could create substantial upside through 2030. The thesis highlights a potential disconnect between the company’s operating performance and its valuation, despite Spotify’s latest quarterly revenue rising 13.9% year over year. Prediction: Spotify Stock Could Be a Monster Winner by 2030
• Positive Sentiment: Spotify launched Premium Early Access in India, giving paying subscribers earlier access to releases from prominent artists including Badshah and Harrdy Sandhu. The initiative could improve premium-user engagement, strengthen Spotify’s position in India and support future monetization in a large growth market. Spotify launches Premium Early Access in India
• Neutral Sentiment: A discussion of Sweden’s startup ecosystem provides broader technology-sector context but does not announce a material change to Spotify’s operations, financial outlook or valuation. How Sweden built one of Europe’s hottest startup ecosystems
• Negative Sentiment: Spotify’s ad-skipping feature is raising questions about the company’s podcast strategy. Although it may improve the listener experience, easier avoidance of podcast ads could reduce advertising value or complicate revenue sharing for creators and Spotify. Spotify Ad-Skipping Feature Blurs Company Impact On Podcasting

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.