2,644 Shares in Spotify Technology $SPOT Purchased by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new stake in Spotify Technology, buying 2,644 shares in the fourth quarter valued at about $1.535 million.
• Institutional ownership in Spotify remains heavy, with hedge funds and other investors continuing to build positions; institutions now own 84.09% of the stock.
• Spotify’s recent earnings beat expectations, and analysts remain generally constructive, with the stock carrying a Moderate Buy consensus and an average price target of $645.77.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,644 shares of the company's stock, valued at approximately $1,535,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tredje AP fonden raised its stake in Spotify Technology by 119.6% during the fourth quarter. Tredje AP fonden now owns 53,796 shares of the company's stock worth $31,240,000 after acquiring an additional 29,296 shares during the period. Larson Financial Group LLC increased its holdings in shares of Spotify Technology by 48.0% in the 4th quarter. Larson Financial Group LLC now owns 1,089 shares of the company's stock worth $632,000 after acquiring an additional 353 shares during the period. Gables Capital Management Inc. lifted its position in Spotify Technology by 349.1% in the 4th quarter. Gables Capital Management Inc. now owns 1,428 shares of the company's stock valued at $829,000 after purchasing an additional 1,110 shares during the last quarter. Csenge Advisory Group lifted its position in Spotify Technology by 2.7% in the 4th quarter. Csenge Advisory Group now owns 3,235 shares of the company's stock valued at $1,879,000 after purchasing an additional 84 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Spotify Technology by 36.2% during the 4th quarter. ProShare Advisors LLC now owns 508 shares of the company's stock valued at $295,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Insider Transactions at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the business's stock in a transaction dated 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 directly owned 20,492 shares in the company, valued at approximately $8,826,314.24. The trade was a 50.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 business's stock in a transaction dated 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 owned 69,989 shares in the company, valued at $33,560,425.39. This trade represents a 7.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,102 shares of company stock worth $21,444,648 over the last 90 days. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SPOT shares. Citigroup raised shares of Spotify Technology from a "neutral" rating to a "buy" rating and set a $650.00 target price for the company in a research note on Friday, January 30th. The Goldman Sachs Group reduced their target price on shares of Spotify Technology from $670.00 to $600.00 and set a "buy" rating for the company in a research note on Wednesday, April 29th. Daiwa Securities Group started coverage on shares of Spotify Technology in a research note on Thursday, March 26th. They set an "outperform" rating and a $535.00 target price for the company. Citizens Jmp reissued a "market outperform" rating and set a $600.00 target price (down from $800.00) on shares of Spotify Technology in a research note on Wednesday, April 29th. Finally, Moffett Nathanson started coverage on shares of Spotify Technology in a research note on Tuesday, January 27th. They set a "neutral" rating and a $487.00 target price for the company. Two investment 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's stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of "Moderate Buy" and an average price target of $645.77.

More Spotify Technology News

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

• Positive Sentiment: Spotify and Universal Music Group announced licensing agreements that will let Premium users create “responsible” AI-generated covers and remixes, with participating artists and songwriters set to share in the revenue. Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
• Positive Sentiment: At its first Investor Day since 2022, Spotify updated its 2030 outlook, targeting mid-teens annual revenue growth and gross margins of 35% to 40%, signaling stronger profitability and cash-flow potential. Spotify stock pops on guidance at first investor day since 2022
• Positive Sentiment: Spotify announced new fan-engagement features, including reserving concert tickets for top fans, which could improve retention and create additional value for artists and subscribers. Spotify Will Set Aside Concert Tickets for Artists' Superfans
• Positive Sentiment: The company also introduced additional AI tools for podcasts and audiobooks, broadening its content-creation ecosystem and potentially opening new subscription and creator revenue streams. Spotify adds AI-powered Q&A and briefing generation features to podcasts
• Neutral Sentiment: Canada is changing rules that could raise costs for Spotify and other streaming platforms, but this appears to be a secondary headline compared with the Investor Day and AI announcements. Netflix, Spotify to face higher costs as Canada changes rules
• Negative Sentiment: A law firm also said it is investigating claims on behalf of Spotify investors, which could add legal overhang if the probe develops further. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Spotify Technology S.A. - SPOT

Spotify Technology Trading Up 13.2%

SPOT stock opened at $490.66 on Friday. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $785.00. The company has a market capitalization of $101.02 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55. The firm's 50-day moving average is $479.71 and its two-hundred day moving average is $523.90.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, topping 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 company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the previous year, the firm earned $1.07 EPS. Spotify Technology's revenue was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Spotify Technology will post 14.87 earnings per share for the current year.

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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