Bell Asset Management Ltd Sells 3,123 Shares of Spotify Technology $SPOT

Key Points

• Bell Asset Management reduced its Spotify stake by 39.2% in the third quarter, selling 3,123 shares and retaining 4,839 shares valued at approximately $2.36 million.
• Institutional investors and hedge funds own 84.09% of Spotify’s stock, with several major firms—including Janus Henderson, Tiger Global and UBS Asset Management—adding to their positions.
• Spotify shares recently opened at $528.22, while analysts maintain a “Moderate Buy” consensus with an average price target of $590.24; the company’s latest earnings missed estimates despite 13.9% year-over-year revenue growth.

Bell Asset Management Ltd trimmed its position in Spotify Technology (NYSE:SPOT - Free Report) by 39.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,839 shares of the company's stock after selling 3,123 shares during the period. Bell Asset Management Ltd's holdings in Spotify Technology were worth $2,358,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Spotify Technology by 20.1% during the first quarter. Janus Henderson Group PLC now owns 1,711,015 shares of the company's stock valued at $829,641,000 after acquiring an additional 286,844 shares during the period. Tiger Global Management LLC raised its holdings in Spotify Technology by 25.3% during the 1st quarter. Tiger Global Management LLC now owns 1,580,761 shares of the company's stock worth $766,527,000 after purchasing an additional 319,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Spotify Technology by 1,382.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,182 shares of the company's stock valued at $724,251,000 after purchasing an additional 1,163,045 shares during the period. Bamco Inc. NY lifted its position in Spotify Technology by 0.9% during the 4th quarter. Bamco Inc. NY now owns 997,291 shares of the company's stock valued at $579,137,000 after purchasing an additional 8,596 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in shares of Spotify Technology by 3.6% in the 4th quarter. Artisan Partners Limited Partnership now owns 974,087 shares of the company's stock valued at $565,662,000 after purchasing an additional 33,630 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Spotify Technology stock opened at $528.22 on Friday. The firm has a market capitalization of $108.75 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 1.57 and a beta of 1.61. The company's 50 day simple moving average is $517.06 and its 200 day simple moving average is $493.65. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $700.12.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.13). Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same period in the previous year, the company posted ($0.42) EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, analysts predict that Spotify Technology will post 13.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SPOT shares. Piper Sandler began coverage on shares of Spotify Technology in a research note on Thursday. They set a "neutral" rating and a $540.00 price target for the company. KeyCorp reduced their price objective on shares of Spotify Technology from $680.00 to $660.00 and set an "overweight" rating on the stock in a research note on Thursday, October 1st. Guggenheim reaffirmed a "buy" rating and set a $565.00 target price on shares of Spotify Technology in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. Finally, Wall Street Zen downgraded Spotify Technology from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $590.24.

More Spotify Technology News

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

• Positive Sentiment: Joe Rogan deal renewed: Spotify signed a new multiyear licensing and advertising agreement with “The Joe Rogan Experience,” reportedly worth approximately $250 million. The show remains the top U.S. podcast by listenership, helping retain a major audience draw and supporting Spotify’s podcast monetization strategy. Joe Rogan Re-Ups Lucrative Spotify Deal
• Positive Sentiment: Audiobook expansion broadens growth opportunities: Spotify plans to expand audiobook availability from 22 markets to more than 180 by the end of 2026, offering roughly 350,000 titles in more than 120 languages. The move could increase subscriber engagement and create additional revenue streams, although the financial impact will take time to develop. Spotify expands audiobooks to over 180 markets
• Positive Sentiment: Enterprise software initiative: Spotify launched technology.spotify.com to commercialize some of its internal developer and enterprise tools. This represents a potential long-term diversification opportunity, though the business is still early-stage and its revenue contribution is uncertain. Spotify is getting more serious about selling enterprise software
• Neutral Sentiment: Analyst coverage is cautious: Piper Sandler initiated coverage with a “neutral” rating and a $540 price target, implying limited near-term upside from recent levels. Analysts overall reportedly maintain a “moderate buy” view, but the mixed outlook suggests valuation remains a concern. Spotify receives new analyst coverage
• Negative Sentiment: Valuation and expectations remain risks: Recent commentary argues that Spotify’s roughly $100 billion-plus market value may already price in substantial growth. UBS also lowered its expectations for the stock, potentially limiting gains if subscriber, advertising, or profitability growth does not accelerate. Spotify valuation commentary

Insider Activity

In other news, CEO Gustav Söderström sold 20,913 shares of the firm's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the sale, the chief executive officer owned 20,025 shares of the company's stock, valued at $10,897,404.75. This trade represents a 51.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of Spotify Technology stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $502.10, for a total value of $2,729,415.60. Following the transaction, the chief executive officer owned 66,773 shares in the company, valued at $33,526,723.30. This trade represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 47,182 shares of company stock worth $24,677,392. Corporate insiders own 0.40% of the company's stock.

Spotify Technology Company Profile

Spotify Technology SA is a global audio streaming company that operates the Spotify platform. The service provides users with access to a broad catalog of music, podcasts and audiobooks, along with personalized recommendations, playlists and other discovery features.

Spotify offers a subscription-based Premium service with enhanced listening features, as well as an ad-supported service available at no direct cost to users. The company generates revenue primarily through Premium subscriptions and advertising, including audio, video and display advertising delivered across its platform.

Founded in 2006 by Daniel Ek and Martin Lorentzon, Spotify is headquartered in Stockholm, Sweden, and serves listeners, creators, advertisers and other partners across markets worldwide.

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