ASR Vermogensbeheer N.V. Buys 22,555 Shares of Spotify Technology $SPOT

Key Points

• ASR Vermogensbeheer N.V. increased its Spotify stake by 628.4% in the fourth quarter, buying 22,555 additional shares and bringing its total holdings to 26,144 shares worth about $15.2 million.
• Spotify’s latest earnings were better than expected, with EPS of $4.04 topping estimates and revenue of $5.25 billion slightly above forecasts, while revenue also rose 8.2% year over year.
• Analysts remain generally upbeat despite recent price-target cuts: the stock has a Moderate Buy consensus with a target price of $645.77, though insider selling and a legal investigation may weigh on sentiment.

ASR Vermogensbeheer N.V. raised its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 628.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,144 shares of the company's stock after buying an additional 22,555 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Spotify Technology were worth $15,182,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SPOT. KERR FINANCIAL PLANNING Corp bought a new stake in Spotify Technology in the 3rd quarter valued at $26,000. Greykasell Wealth Strategies Inc. lifted its position in Spotify Technology by 3,800.0% in the 3rd quarter. Greykasell Wealth Strategies Inc. now owns 39 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares in the last quarter. Westfuller Advisors LLC bought a new stake in Spotify Technology in the 3rd quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new stake in Spotify Technology in the 4th quarter valued at $35,000. Finally, JPL Wealth Management LLC bought a new stake in Spotify Technology in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 84.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays cut their price objective on shares of Spotify Technology from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 29th. Arete Research upgraded shares of Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 price target on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. lowered their price target on shares of Spotify Technology from $700.00 to $600.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. KeyCorp reduced their target price on shares of Spotify Technology from $745.00 to $680.00 and set an "overweight" rating for the company in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein cut their price target on shares of Spotify Technology from $830.00 to $650.00 and set an "outperform" rating for the company in a report on Wednesday, January 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $645.77.

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $417.86 on Friday. Spotify Technology has a 1 year low of $405.00 and a 1 year high of $785.00. The firm has a market cap of $86.03 billion, a PE ratio of 33.30, a PEG ratio of 1.05 and a beta of 1.55. The company has a 50 day simple moving average of $496.76 and a two-hundred day simple moving average of $539.88.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) 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 business had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the business posted $1.07 earnings per share. Spotify Technology's revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts anticipate that Spotify Technology will post 14.62 earnings per share for the current year.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Spotify continues to draw bullish analyst attention, with recent commentary highlighting meaningful upside from current levels and noting that most covering analysts still rate the stock a Buy. Spotify Technology (SPOT) Down 23% YTD, Should You Buy Before the Next Bull Run?
• Positive Sentiment: Spotify is expanding its AI push, including adding French, German, Italian, and Brazilian Portuguese support to its AI DJ feature, which could broaden engagement and strengthen product differentiation. Spotify's AI DJ now supports French, German, Italian and Brazilian Portuguese
• Positive Sentiment: Management is also leaning into AI-generated personal audio, suggesting a potential new growth avenue and longer-term monetization opportunity. Spotify wants to become the home for AI-generated personal audio
• Positive Sentiment: The company’s recent earnings report was solid, with an earnings beat and revenue slightly above expectations, reinforcing the case that fundamentals remain healthy.
• Neutral Sentiment: Spotify is receiving more investor attention online, which can increase trading interest but does not by itself change the business outlook. Investors Heavily Search Spotify Technology (SPOT): Here is What You Need to Know
• Neutral Sentiment: Coverage of a Peloton earnings beat mentioned a Spotify partnership, but that looks more like incremental visibility than a major near-term driver for Spotify. Peloton Soars 11% on Q3 Profit Turnaround, Raised Guidance, Spotify Partnership
• Negative Sentiment: CEO Gustav Söderström sold 20,833 shares in a pre-arranged 10b5-1 sale, which can weigh on sentiment even though it was tied to tax withholding on vesting awards. Insider sale by Gustav Söderström
• Negative Sentiment: Pomerantz LLP announced an investor investigation into Spotify, adding a legal overhang that could pressure the shares until more details emerge. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Spotify Technology S.A. - SPOT

Insiders Place Their Bets

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the completion of the sale, the chief executive officer owned 69,989 shares of the company's stock, valued at $33,560,425.39. This represents a 7.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction on 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 of the company's stock, valued at $8,826,314.24. The trade was a 50.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 47,102 shares of company stock valued at $21,444,648 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

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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