National Pension Service Makes New $316.28 Million Investment in Spotify Technology $SPOT

Key Points

• National Pension Service opened a new position in Spotify Technology, buying 544,640 shares worth about $316.3 million in the fourth quarter. The stake represented roughly 0.26% of Spotify.
• Spotify has seen ongoing institutional interest, with hedge funds and other institutional investors now owning 84.09% of the stock. However, insider selling has also been notable, including recent sales by CEO Alex Norstrom and Gustav Soderstrom.
• Wall Street remains generally constructive on SPOT, with analysts assigning a Moderate Buy consensus and an average price target of $655.92. The company also beat quarterly earnings expectations, reporting $4.04 EPS versus the expected $3.41 on revenue of $5.25 billion.

National Pension Service acquired a new position in shares of Spotify Technology (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 544,640 shares of the company's stock, valued at approximately $316,278,000. National Pension Service owned about 0.26% of Spotify Technology as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Quadcap Wealth Management LLC raised its position in Spotify Technology by 5.7% during the 3rd quarter. Quadcap Wealth Management LLC now owns 295 shares of the company's stock worth $206,000 after buying an additional 16 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in Spotify Technology by 2.9% during the 4th quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company's stock worth $370,000 after buying an additional 18 shares during the last quarter. Ameritas Advisory Services LLC raised its position in Spotify Technology by 7.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 260 shares of the company's stock worth $181,000 after buying an additional 19 shares during the last quarter. Aprio Wealth Management LLC raised its position in Spotify Technology by 3.1% during the 3rd quarter. Aprio Wealth Management LLC now owns 633 shares of the company's stock worth $442,000 after buying an additional 19 shares during the last quarter. Finally, Petra Financial Advisors Inc. raised its position in Spotify Technology by 1.2% during the 3rd quarter. Petra Financial Advisors Inc. now owns 1,639 shares of the company's stock worth $1,144,000 after buying an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 84.09% of the company's stock.

Insider Activity

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the firm's 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 approximately $33,560,425.39. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gustav Soderstrom sold 20,833 shares of the firm's 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 trade represents a 50.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,609 shares of company stock worth $44,303,507 in the last three months. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

SPOT has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the stock a "neutral" rating in a research report on Tuesday. Canaccord Genuity Group cut their price target on shares of Spotify Technology from $750.00 to $720.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Citigroup upgraded shares of Spotify Technology from a "neutral" rating to a "buy" rating and set a $650.00 price target for the company in a report on Friday, January 30th. Guggenheim cut their price target on shares of Spotify Technology from $600.00 to $565.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $655.92.

Spotify Technology News Summary

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

• Positive Sentiment: Spotify has rolled out several new audio features, including podcast clips, narrated magazine articles, and AI-powered music/remix tools with artist revenue sharing, which could boost user engagement and broaden monetization opportunities. Article: Spotify now lets you ‘clip' moments from your favorite podcast
• Positive Sentiment: Recent coverage highlighted Spotify’s long-term 2030 growth targets and margin ambitions, reinforcing the bullish view that the company can keep expanding revenue and profitability. Article: Is Spotify (SPOT) the Best Steve Cohen Stock To Buy?
• Positive Sentiment: Analyst commentary has also been supportive, with Rosenblatt recently lifting its price target on SPOT to $534 while keeping a Neutral rating, which can still help investor sentiment. Article: Spotify Technology S.A. (SPOT) Gains Attention Following AI Remix Collaboration With Universal Music Group
• Neutral Sentiment: Spotify’s addition of long-form article audio and other content formats expands its platform, but investors are still waiting to see whether these features materially improve subscriber growth or ad revenue. Article: Ninth Bonus Treasure in The Great Canadian Treasure Hunt Is Released in Saskatchewan
• Negative Sentiment: Multiple directors recently sold shares, including Thomas Staggs, Christopher Marshall, and Sven Lorentzon, which may pressure sentiment because insider selling is often viewed as a cautionary signal. SEC filing for insider sale
• Negative Sentiment: A shareholder law firm said it is investigating Spotify for possible securities-law violations, adding legal uncertainty that could weigh on the stock. Article: SPOT Investors Have Opportunity to Join Spotify Technology S.A. Fraud Investigation

Spotify Technology Trading Up 0.5%

NYSE:SPOT opened at $515.55 on Friday. The firm has a 50-day moving average price of $479.86 and a two-hundred day moving average price of $520.14. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The company has a market capitalization of $106.14 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share 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 firm 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 firm posted $1.07 EPS. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts predict that Spotify Technology will post 14.72 earnings per share for the current year.

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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