Piedmont Capital Management LLC NC Acquires New Holdings in Spotify Technology $SPOT

Key Points

• Piedmont Capital Management disclosed a new stake in Spotify Technology, buying 2,285 shares valued at about $1.33 million. The position represents roughly 0.9% of the fund’s portfolio.
• Institutional ownership remains heavy, with 84.09% of Spotify shares held by hedge funds and other institutions. Several other funds also modestly increased their Spotify holdings during the latest reported periods.
• Insiders have been selling shares, including director Sven Hans Martin Lorentzon and CEO Alex Norstrom, with total insider sales over the last quarter reaching about $54.6 million. Despite that, Spotify’s latest earnings beat expectations, reporting $4.04 EPS on revenue of $5.25 billion.

Piedmont Capital Management LLC NC acquired a new stake in Spotify Technology (NYSE:SPOT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,285 shares of the company's stock, valued at approximately $1,327,000. Spotify Technology accounts for about 0.9% of Piedmont Capital Management LLC NC's investment portfolio, making the stock its 19th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quadcap Wealth Management LLC grew its position in shares of Spotify Technology by 5.7% in the 3rd quarter. Quadcap Wealth Management LLC now owns 295 shares of the company's stock valued at $206,000 after purchasing an additional 16 shares during the period. Sagespring Wealth Partners LLC grew its position in shares of Spotify Technology by 2.9% in the 4th quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company's stock valued at $370,000 after purchasing an additional 18 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Spotify Technology by 7.9% in the 3rd quarter. Ameritas Advisory Services LLC now owns 260 shares of the company's stock valued at $181,000 after purchasing an additional 19 shares during the period. Aprio Wealth Management LLC grew its position in shares of Spotify Technology by 3.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 633 shares of the company's stock valued at $442,000 after purchasing an additional 19 shares during the period. Finally, Petra Financial Advisors Inc. grew its position in shares of Spotify Technology by 1.2% in the 3rd quarter. Petra Financial Advisors Inc. now owns 1,639 shares of the company's stock valued at $1,144,000 after purchasing an additional 20 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Spotify Technology

In related news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $525.73, for a total transaction of $18,600,327.40. Following the transaction, the director directly owned 6,383 shares of the company's stock, valued at approximately $3,355,734.59. The trade was a 84.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the completion of the sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 111,442 shares of company stock worth $54,647,508. Insiders own 0.40% of the company's stock.

Spotify Technology News Roundup

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

• Positive Sentiment: Spotify’s Investor Day emphasized long-term growth targets focused on increasing subscriber conversion and strengthening its broader brand and AI-driven strategy, which investors viewed favorably. Spotify's "North Star" Outlook Was Music to Investors Ears
• Positive Sentiment: Spotify also brought in a new head of PR and communications, signaling a stronger focus on reputation management and clearer messaging as it expands its content and AI initiatives. Will Spotify (SPOT) Elevate Its Brand Narrative As AI Strategy Deepens Under New PR Leadership?
• Neutral Sentiment: Spotify reversed its iPhone app icon change after user backlash, a small brand-related issue that is unlikely to materially affect fundamentals. Spotify reverts iPhone app icon to original after disco-ball backlash
• Negative Sentiment: Several analysts trimmed earnings estimates slightly, including Erste Group Bank lowering FY2026 and FY2027 EPS forecasts, which adds a modest headwind to sentiment. Spotify Technology (SPOT) analyst estimate updates
• Negative Sentiment: Recent trading has also reflected broader weakness, with SPOT sliding in the latest sessions even as the market rose, suggesting investors are still cautious after a strong run. Spotify (SPOT) Stock Slides as Market Rises: Facts to Know Before You Trade

Spotify Technology Stock Down 0.3%

Shares of Spotify Technology stock opened at $480.77 on Monday. Spotify Technology has a 12-month low of $405.00 and a 12-month high of $785.00. The stock has a market cap of $98.98 billion, a P/E ratio of 38.31, a P/E/G ratio of 1.18 and a beta of 1.56. The business's 50 day moving average is $482.76 and its 200-day moving average is $510.35.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.23 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business's revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts expect that Spotify Technology will post 14.71 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Arete Research upgraded Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 price objective for the company in a research report on Thursday, February 26th. KeyCorp decreased their price objective on Spotify Technology from $745.00 to $680.00 and set an "overweight" rating for the company in a research report on Wednesday, April 29th. Pivotal Research decreased their price objective on Spotify Technology from $420.00 to $400.00 and set a "hold" rating for the company in a research report on Wednesday, April 29th. The Goldman Sachs Group decreased their price objective on Spotify Technology from $670.00 to $600.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group decreased their price objective on Spotify Technology from $750.00 to $720.00 and set a "buy" rating for the company in a research report on Wednesday, April 29th. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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