11,040 Shares in Spotify Technology $SPOT Bought by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d’investissement inc. disclosed a new first-quarter position in Spotify Technology, buying 11,040 shares valued at about $5.35 million.
• Spotify reported strong quarterly results, with earnings of $4.04 per share versus $3.41 expected and revenue of $5.25 billion, up 8.2% year over year.
• Analysts remain largely constructive on the stock despite some price-target cuts, with a consensus “Moderate Buy” rating and average target price of $638.58.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,040 shares of the company's stock, valued at approximately $5,353,000.

Several other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Spotify Technology by 12.9% in the fourth quarter. Principal Financial Group Inc. now owns 645,196 shares of the company's stock valued at $374,672,000 after acquiring an additional 73,722 shares during the last quarter. City Holding Co. increased its position in Spotify Technology by 2,515.9% during the 4th quarter. City Holding Co. now owns 5,598 shares of the company's stock valued at $3,251,000 after purchasing an additional 5,384 shares during the period. Robeco Schweiz AG raised its holdings in Spotify Technology by 37.6% during the 4th quarter. Robeco Schweiz AG now owns 18,544 shares of the company's stock worth $10,769,000 after purchasing an additional 5,071 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $1,162,000. Finally, Robinhood Asset Management LLC acquired a new position in shares of Spotify Technology in the 4th quarter worth approximately $8,233,000. 84.09% of the stock is owned by institutional investors.

Spotify Technology Stock Down 2.0%

Shares of NYSE SPOT opened at $475.67 on Friday. The firm has a market cap of $97.93 billion, a PE ratio of 37.90, a P/E/G ratio of 1.19 and a beta of 1.56. The company's fifty day simple moving average is $475.16 and its 200 day simple moving average is $491.82. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $748.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly 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. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. The business's revenue was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Spotify Technology will post 14.59 earnings per share for the current year.

Insider Buying and Selling

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the stock in a transaction that occurred on 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 transaction, the director owned 3,619 shares in the company, valued at approximately $1,903,594. This represents a 60.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $480.86, for a total value of $2,613,954.96. Following the completion of the transaction, the chief executive officer owned 67,582 shares in the company, valued at approximately $32,497,480.52. The trade was a 7.44% 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. Insiders sold a total of 111,442 shares of company stock worth $54,757,553 over the last 90 days. 0.40% of the stock is owned by company insiders.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: Spotify rolled out a new AI assistant that helps users search music, create playlists, and discover podcasts by speaking naturally, highlighting product innovation and potentially boosting user engagement. Spotify's new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and $600 price target, citing upcoming catalysts such as AI remixing features and a possible Warner Music Group remixing agreement, which supports a bullish longer-term view. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to its free tier in several major markets, a move that could widen adoption among families and improve the platform’s ecosystem. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Back Market announced new partnerships with Duolingo and Spotify as part of its back-to-school campaign, but the announcement appears more promotional than financially material for SPOT. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase - And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Singer Lorde criticized Spotify over sloppy AI-generated song descriptions, adding to concerns that Spotify’s AI rollout could face backlash around quality and trust. Lorde slams Spotify over sloppy AI-generated song descriptions
• Negative Sentiment: Recent market coverage noted that Spotify dipped more than the broader market, suggesting investors are still focused on valuation and near-term execution despite the company’s strong fundamentals. Why Spotify (SPOT) Dipped More Than Broader Market Today

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SPOT shares. The Goldman Sachs Group reduced their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. KeyCorp dropped their target price on shares of Spotify Technology from $745.00 to $680.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Wells Fargo & Company cut their price target on shares of Spotify Technology from $600.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on Spotify Technology from $600.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Finally, UBS Group lowered their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Spotify Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $638.58.

Spotify Technology 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.

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