Axxcess Wealth Management LLC Purchases 4,256 Shares of Spotify Technology $SPOT

Key Points

• Axxcess Wealth Management LLC boosted its Spotify stake by 130.2% in the fourth quarter, buying 4,256 additional shares and bringing its total holding to 7,524 shares worth about $4.37 million.
• Spotify has drawn mixed but generally positive analyst attention, with several firms raising price targets; the stock currently carries a Moderate Buy consensus and a consensus target price of $652.46.
• The company recently reported strong quarterly results, beating EPS estimates and slightly topping revenue expectations, while management also outlined an upbeat long-term outlook for revenue growth and margins.

Axxcess Wealth Management LLC increased its position in shares of Spotify Technology (NYSE:SPOT - Free Report) by 130.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,524 shares of the company's stock after buying an additional 4,256 shares during the period. Axxcess Wealth Management LLC's holdings in Spotify Technology were worth $4,369,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SPOT. Sivia Capital Partners LLC bought a new position in Spotify Technology during the second quarter worth $312,000. Jump Financial LLC raised its stake in Spotify Technology by 5.2% during the second quarter. Jump Financial LLC now owns 1,132 shares of the company's stock worth $869,000 after buying an additional 56 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in Spotify Technology during the second quarter worth $178,000. NewEdge Advisors LLC raised its stake in 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 buying an additional 3,412 shares during the last quarter. Finally, Glenview Trust co bought a new position in Spotify Technology during the second quarter worth $298,000. Institutional investors own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of analyst reports. KeyCorp lowered their target price on shares of Spotify Technology from $745.00 to $680.00 and set an "overweight" rating for the company in a research note on Wednesday, April 29th. Daiwa Securities Group initiated 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. Morgan Stanley lifted their target price on shares of Spotify Technology from $590.00 to $610.00 and gave the stock an "overweight" rating in a research note on Friday. Rosenblatt Securities raised their price target on shares of Spotify Technology from $500.00 to $534.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Barclays raised their price target on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an "overweight" rating in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Spotify Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $652.46.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify announced a new AI partnership with Universal Music Group that will let Premium users create licensed AI-generated covers and remixes, opening a potential new revenue stream while giving artists a cut of the economics. Spotify strikes deal with Universal Music to let premium users create AI covers, remixes
• Positive Sentiment: Management reinforced a bullish 2030 outlook, calling for mid-teens annual revenue growth and gross margins of 35% to 40%, which supports the argument that profitability can keep improving. Spotify stock pops on guidance at first investor day since 2022
• Positive Sentiment: Several Wall Street firms raised price targets after the event, including JPMorgan, Wells Fargo, Morgan Stanley, Barclays, Citizens JMP, and Jefferies, signaling stronger confidence in Spotify’s growth story. Analyst target hikes
• Positive Sentiment: Spotify also introduced new product features tied to engagement and monetization, including AI-generated podcasts, audiobook tools, and reserved concert tickets for top fans, which could deepen user activity and subscription value. Spotify adds AI-powered Q&A and briefing generation features to podcasts
• Neutral Sentiment: A Seeking Alpha opinion piece argued Spotify’s long-term path deserves a premium valuation, but this is more commentary than a new fundamental catalyst. Spotify's Path Forward Deserves This Premium
• Negative Sentiment: One Seeking Alpha note warned that weaker advertising trends could be a concern, suggesting ad-market softness may remain a headwind even as Spotify’s premium business improves. Spotify: Weaker Advertising Trends Are Becoming A Concern (Downgrade)

Insider Transactions at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction dated 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 transaction, the chief executive officer directly 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer owned 20,609 shares of the company's stock, valued at $9,758,773.68. This represents a 50.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,102 shares of company stock valued at $21,444,648 over the last quarter. Corporate insiders own 0.40% of the company's stock.

Spotify Technology Trading Up 5.9%

NYSE:SPOT opened at $518.92 on Friday. The stock has a market capitalization of $106.83 billion, a price-to-earnings ratio of 41.35, a PEG ratio of 1.25 and a beta of 1.55. The firm has a fifty day simple moving average of $479.80 and a two-hundred day simple moving average of $523.86. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.41 by $0.63. The firm had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The business's revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Equities analysts predict that Spotify Technology will post 14.86 earnings per share for the current fiscal year.

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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