Norges Bank Takes $711.46 Million Position in Spotify Technology $SPOT

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Spotify Technology, buying 1,225,155 shares valued at about $711.46 million, or 0.60% of the company.
• Spotify continues to attract heavy institutional interest, with hedge funds and other investors holding 84.09% of the stock and several firms recently increasing or establishing positions.
• The company reported strong quarterly results, with EPS of $4.04 topping estimates and revenue of $5.25 billion, while analysts still maintain a generally positive view with a Moderate Buy consensus and a $655.92 average target.

Norges Bank bought a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,225,155 shares of the company's stock, valued at approximately $711,460,000. Norges Bank owned 0.60% of Spotify Technology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SPOT. Capital World Investors increased its stake in shares of Spotify Technology by 40.7% during the third quarter. Capital World Investors now owns 2,730,713 shares of the company's stock valued at $1,906,260,000 after buying an additional 789,755 shares during the period. Capital Research Global Investors purchased a new position in shares of Spotify Technology during the third quarter valued at approximately $512,190,000. Principal Financial Group Inc. increased its stake in shares of Spotify Technology by 3,534.9% during the third quarter. Principal Financial Group Inc. now owns 571,474 shares of the company's stock valued at $398,889,000 after buying an additional 555,752 shares during the period. National Pension Service purchased a new position in shares of Spotify Technology during the fourth quarter valued at approximately $316,278,000. Finally, Swedbank AB increased its stake in shares of Spotify Technology by 37.9% during the fourth quarter. Swedbank AB now owns 1,616,321 shares of the company's stock valued at $938,614,000 after buying an additional 444,162 shares during the period. 84.09% of the stock is owned by hedge funds and other institutional investors.

Spotify Technology Stock Down 0.3%

NYSE SPOT opened at $496.41 on Monday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The firm has a market capitalization of $102.20 billion, a PE ratio of 39.55, a P/E/G ratio of 1.21 and a beta of 1.56. The stock's 50 day moving average is $479.44 and its 200 day moving average is $519.26.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly 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 return on equity of 35.73% and a net margin of 15.56%.The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. On average, research analysts anticipate that Spotify Technology will post 14.72 earnings per share for the current year.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: Spotify’s new paid AI remix and cover tools, developed with Universal Music Group, could create a fresh revenue stream while keeping artists involved through revenue sharing. Article: Spotify, UMG Deal Sets Up Paid AI Music Remix Tool
• Positive Sentiment: The company is also expanding its platform with “Reserved by Spotify” concert-ticket access and narrated long-form audio, which could deepen user engagement and improve Premium subscriber value. Article: Spotify Tests Superfan Tickets And Narrated Articles To Deepen Engagement
• Positive Sentiment: Recent commentary highlighted that Spotify’s broader AI and audio expansion strategy is helping investors view the company as more than just a music streamer. Article: Why Spotify Technology (SPOT) Is Up 5.5% After Launching Paid AI Remixes And Superfan Tools
• Neutral Sentiment: Analysts remain generally constructive, but recent price-target changes and mixed ratings suggest the market is still weighing execution risk against long-term growth potential. Article: Spotify Technology S.A. (SPOT) Gains Attention Following AI Remix Collaboration With Universal Music Group
• Negative Sentiment: Recent insider sales by directors, including Thomas Staggs and Christopher Marshall, may pressure sentiment because investors often view heavy insider selling cautiously. SEC filing for insider sale SEC filing for insider sale
• Negative Sentiment: A shareholder law firm is investigating potential securities-law issues at Spotify, adding a legal overhang for the stock. Article: SPOT Investors Have Opportunity to Join Spotify Technology S.A. Fraud Investigation

Insider Activity at Spotify Technology

In other Spotify Technology news, Director Thomas O. Staggs sold 5,477 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total value of $2,880,902.00. Following the sale, the director directly owned 3,619 shares of the company's stock, valued at approximately $1,903,594. The trade was a 60.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Marshall sold 2,650 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the sale, the director directly owned 4,039 shares in the company, valued at $2,099,714.54. This trade represents a 39.62% 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 valued at $44,303,507 over the last ninety days. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SPOT shares. UBS Group reduced their target price on Spotify Technology from $760.00 to $735.00 and set a "buy" rating on the stock in a research note on Thursday, April 30th. Citizens Jmp boosted their target price on Spotify Technology from $600.00 to $625.00 and gave the company a "market outperform" rating in a research note on Friday, May 22nd. Wells Fargo & Company boosted their target price on Spotify Technology from $580.00 to $600.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Daiwa Securities Group initiated coverage on Spotify Technology in a research report on Thursday, March 26th. They set an "outperform" rating and a $535.00 price target on the stock. Finally, Canaccord Genuity Group dropped their price target on 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 analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $655.92.

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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