Quantitative Investment Management LLC Takes $5.01 Million Position in Spotify Technology $SPOT

Quantitative Investment Management LLC bought a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,919 shares of the company's stock, valued at approximately $5,013,000.

A number of other large investors also recently added to or reduced their stakes in the business. SPX Gestao de Recursos Ltda bought a new stake in Spotify Technology in the second quarter worth $3,960,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Spotify Technology in the second quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new position in shares of Spotify Technology in the second quarter worth about $34,292,000. Ancora Advisors LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at about $3,049,000. Finally, Manning & Napier Advisors LLC bought a new stake in shares of Spotify Technology in the 2nd quarter valued at about $100,867,000. Hedge funds and other institutional investors own 84.09% of the company's stock.

Insider Buying and Selling

In other Spotify Technology news, CEO Alex Norstrom 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 completion of the transaction, the chief executive officer directly owned 66,773 shares of the company's stock, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gustav Soderstrom sold 20,833 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $496.52, for a total transaction of $10,344,001.16. Following the completion of the transaction, the chief executive officer owned 20,376 shares of the company's stock, valued at approximately $10,117,091.52. The trade was a 50.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 73,371 shares of company stock valued at $36,222,251. 0.40% of the stock is owned by corporate insiders.

Key Spotify Technology News

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

• Positive Sentiment: A bullish analysis argues that Spotify’s improving fundamentals and stock price well below last year’s peak could create substantial upside through 2030. The thesis highlights a potential disconnect between the company’s operating performance and its valuation, despite Spotify’s latest quarterly revenue rising 13.9% year over year. Prediction: Spotify Stock Could Be a Monster Winner by 2030
• Positive Sentiment: Spotify launched Premium Early Access in India, giving paying subscribers earlier access to releases from prominent artists including Badshah and Harrdy Sandhu. The initiative could improve premium-user engagement, strengthen Spotify’s position in India and support future monetization in a large growth market. Spotify launches Premium Early Access in India
• Neutral Sentiment: A discussion of Sweden’s startup ecosystem provides broader technology-sector context but does not announce a material change to Spotify’s operations, financial outlook or valuation. How Sweden built one of Europe’s hottest startup ecosystems
• Negative Sentiment: Spotify’s ad-skipping feature is raising questions about the company’s podcast strategy. Although it may improve the listener experience, easier avoidance of podcast ads could reduce advertising value or complicate revenue sharing for creators and Spotify. Spotify Ad-Skipping Feature Blurs Company Impact On Podcasting

Spotify Technology Stock Performance

Spotify Technology stock opened at $548.35 on Monday. The stock has a market cap of $112.89 billion, a price-to-earnings ratio of 34.14, a PEG ratio of 1.34 and a beta of 1.58. The stock's 50 day simple moving average is $493.67 and its two-hundred day simple moving average is $489.23. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $745.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $3.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.16 by ($0.13). Spotify Technology had a return on equity of 41.39% and a net margin of 18.44%.The firm had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.47 billion. During the same quarter last year, the company posted ($0.42) EPS. Spotify Technology's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts predict that Spotify Technology will post 14.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SPOT. Cantor Fitzgerald raised their price target on Spotify Technology from $510.00 to $530.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Rosenblatt Securities cut their target price on shares of Spotify Technology from $531.00 to $527.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Wells Fargo & Company dropped their price target on shares of Spotify Technology from $600.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Argus reissued a "buy" rating and issued a $600.00 price target on shares of Spotify Technology in a report on Thursday, August 13th. Finally, Guggenheim restated a "buy" rating and issued a $565.00 price objective on shares of Spotify Technology in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology has an average rating of "Moderate Buy" and an average price target of $609.05.

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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