California State Teachers Retirement System Has $87.59 Million Stock Position in Spotify Technology $SPOT

Key Points

• California State Teachers Retirement System reduced its Spotify stake by 1.7% in the first quarter, retaining 180,624 shares valued at approximately $87.6 million. Institutional investors collectively own 84.09% of the company.
• Spotify reported quarterly EPS of $4.04, beating estimates of $3.41, while revenue rose 8.2% year over year to $5.25 billion. Shares recently traded around $522.68, with a market capitalization of roughly $107.6 billion.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $629.73 price target, although some firms lowered ratings or forecasts. Insiders sold $54.8 million of stock over the past three months, including CEO Gustav Soderstrom’s tax-related sale of 20,833 shares.

California State Teachers Retirement System lessened its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 1.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,624 shares of the company's stock after selling 3,113 shares during the quarter. California State Teachers Retirement System owned approximately 0.09% of Spotify Technology worth $87,586,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Portus Wealth Advisors LLC acquired a new stake in shares of Spotify Technology during the first quarter valued at about $32,000. Kemnay Advisory Services Inc. acquired a new position in shares of Spotify Technology in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC raised its holdings in Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company's stock valued at $33,000 after buying an additional 55 shares during the last quarter. Palladiem LLC acquired a new stake in Spotify Technology during the 1st quarter worth approximately $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Spotify Technology during the 4th quarter worth approximately $35,000. 84.09% of the stock is currently owned by institutional investors.

Insider Activity at Spotify Technology

In related news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total value of $8,973,189.76. Following the completion of the sale, the chief executive officer owned 20,492 shares of the company's stock, valued at approximately $8,826,314.24. This trade represents a 50.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, Director Christopher P. Marshall sold 2,650 shares of the business'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. This trade represents a 39.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 111,442 shares of company stock valued at $54,757,553 over the last three months. 0.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SPOT has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Spotify Technology from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. JPMorgan Chase & Co. lifted their target price on Spotify Technology from $600.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Weiss Ratings lowered Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Pivotal Research lowered their price target on shares of Spotify Technology from $420.00 to $400.00 and set a "hold" rating for the company in a report on Wednesday, April 29th. Finally, Canaccord Genuity Group dropped their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Spotify Technology presently has an average rating of "Moderate Buy" and an average price target of $629.73.

Spotify Technology Trading Up 2.2%

Shares of NYSE SPOT opened at $522.68 on Thursday. The firm has a market capitalization of $107.61 billion, a P/E ratio of 41.65, a P/E/G ratio of 1.27 and a beta of 1.56. The firm's 50-day moving average price is $485.86 and its 200-day moving average price is $486.46. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $748.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The company had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.23 billion. During the same period last year, the business posted $1.07 EPS. The firm's revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts forecast that Spotify Technology will post 14.46 EPS for the current year.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: KeyCorp maintained an “Overweight” rating and a $680 price target, well above recent trading levels, while projecting substantial earnings growth through fiscal 2028. The firm expects FY2028 EPS of $27.06, compared with a current-year consensus estimate of roughly $14.46. Spotify Stock May Be a Bargain on Cash Flow
• Positive Sentiment: A preview article highlighted expectations for strong user growth and described the shares as attractive after recent weakness. The stock’s longer-term performance remains strong, having gained approximately 239% over three years. Spotify Q2 Preview
• Positive Sentiment: A new Snapchat integration will enable real-time music sharing through Spotify, potentially improving discovery, engagement and user acquisition. Snapchat Introduces Real-Time Music Sharing Through Spotify Integration
• Neutral Sentiment: Valuation signals are mixed: discounted-cash-flow analysis suggests the stock may be undervalued based on future cash generation, while conventional multiples indicate investors are already paying a premium and therefore expect strong execution.
• Negative Sentiment: KeyCorp reduced its EPS forecasts for Q2, Q3 and Q4 2026, lowering its FY2026 estimate to $16.64 from $17.11 and FY2027 to $21.61 from $22.78, although it retained its bullish rating and price target. Spotify Analyst Estimates
• Negative Sentiment: Pre-earnings analysis said Spotify may lack the typical indicators supporting an earnings beat. Earlier lower-than-expected guidance for Q2 and ongoing efforts to police fake streams add execution risks ahead of the report. Spotify Earnings Expected to Grow

Spotify Technology Company 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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