Annex Advisory Services LLC Sells 112,971 Shares of Spotify Technology $SPOT

Key Points

• Annex Advisory Services cut its Spotify position by 97.4% in the second quarter, selling 112,971 shares and retaining 3,070 shares valued at approximately $1.41 million.
• Other institutional investors increased or initiated positions, with institutions collectively owning 84.09% of Spotify’s stock. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $630 price target.
• Spotify reported strong operating momentum, including 300 million premium subscribers and a record 33.4% gross margin, while SPOT shares opened at $487.69 and remain below their 12-month high of $748.30.

Annex Advisory Services LLC decreased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 97.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,070 shares of the company's stock after selling 112,971 shares during the period. Annex Advisory Services LLC's holdings in Spotify Technology were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SPOT. Wasatch Advisors LP raised its position in Spotify Technology by 7.2% in the 2nd quarter. Wasatch Advisors LP now owns 1,054 shares of the company's stock valued at $484,000 after purchasing an additional 71 shares during the last quarter. Community Financial Services Group LLC bought a new stake in shares of Spotify Technology during the second quarter worth $52,000. Arista Wealth Management LLC grew its holdings in shares of Spotify Technology by 62.0% during the second quarter. Arista Wealth Management LLC now owns 2,439 shares of the company's stock worth $1,120,000 after purchasing an additional 933 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Spotify Technology by 77.6% in the second quarter. Valeo Financial Advisors LLC now owns 1,387 shares of the company's stock valued at $637,000 after buying an additional 606 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Spotify Technology in the second quarter valued at $228,000. Institutional investors own 84.09% of the company's stock.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Strong Q2 operating performance: Spotify reached 300 million premium subscribers and reported a record 33.4% gross margin, supporting the company’s growth and profitability outlook. Spotify Q2 2026 earnings call transcript
• Positive Sentiment: Higher earnings expectations: Erste Group Bank raised its FY2026 and FY2027 EPS forecasts to $14.31 and $17.86, respectively. The revisions reinforce expectations for continued earnings growth, although the FY2026 estimate is broadly in line with consensus.
• Positive Sentiment: Engagement initiatives: Spotify’s licensing agreement with Merlin will allow independent artists to opt into fan-created covers and remixes. The feature could increase user engagement and strengthen Spotify’s creator ecosystem. Spotify fan remixes article
• Neutral Sentiment: AI-music labeling: Beginning in mid-September, Spotify plans to add “AI Persona” badges to AI-generated artist profiles and exclude that music from editorial and algorithmic recommendations. The policy may improve user trust and address complaints about AI-generated content, but could also reduce the amount of music eligible for discovery. Spotify AI Persona badges article
• Negative Sentiment: Valuation remains a concern: A discounted-cash-flow analysis suggests SPOT may be worth more than its current trading value, but earnings-based measures indicate a fair valuation after the stock’s roughly 2.8-fold three-year gain. Investors may therefore be taking profits or waiting for further earnings growth before pushing the shares higher. Spotify valuation analysis

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SPOT shares. JPMorgan Chase & Co. lifted their price target on Spotify Technology from $600.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Citizens Jmp raised their price objective on shares of Spotify Technology from $600.00 to $625.00 and gave the company a "market outperform" rating in a research report on Friday, May 22nd. Barclays raised their price objective on shares of Spotify Technology from $500.00 to $565.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Canaccord Genuity Group reduced their target price on shares of Spotify Technology from $750.00 to $720.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $630.00.

Spotify Technology Stock Down 2.7%

Shares of SPOT stock opened at $487.69 on Thursday. The firm has a market cap of $100.41 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 1.22 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 50-day moving average price of $483.07 and a 200 day moving average price of $484.91.

Insiders Place Their Bets

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of Spotify Technology stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the sale, the director owned 3,619 shares of the company's stock, valued at approximately $1,903,594. The trade was a 60.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Marshall sold 2,650 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $519.86, for a total transaction of $1,377,629.00. Following the sale, the director owned 4,039 shares of the company's stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,878 shares of company stock valued at $59,081,110 over the last three months. 0.40% of the stock is owned by insiders.

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.

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