SBI Okasan Asset Management Co.Ltd. Purchases Shares of 2,000 Spotify Technology $SPOT

Key Points

• SBI Okasan Asset Management opened a new position in Spotify Technology, buying 2,000 shares worth about $1.162 million in the fourth quarter.
• Spotify’s latest earnings beat expectations, with EPS of $4.04 versus the $3.41 estimate and revenue of $5.25 billion, up 8.2% year over year.
• Analysts remain generally upbeat, with several firms raising price targets and MarketBeat showing a Moderate Buy consensus and average target price of $655.92, though insider selling and a securities-law investigation add some caution.

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Spotify Technology (NYSE:SPOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,000 shares of the company's stock, valued at approximately $1,162,000.

A number of other hedge funds have also added to or reduced their stakes in SPOT. Quadcap Wealth Management LLC boosted its holdings 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 acquiring an additional 16 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings 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 acquiring an additional 18 shares during the last quarter. Ameritas Advisory Services LLC boosted its holdings 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 acquiring an additional 19 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings 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 acquiring an additional 19 shares during the last quarter. Finally, Petra Financial Advisors Inc. boosted its holdings 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 acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Key Stories Impacting Spotify Technology

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 Stock Up 0.5%

Shares of NYSE SPOT opened at $515.55 on Friday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The stock's 50 day moving average price is $479.86 and its 200-day moving average price is $520.14. The company has a market capitalization of $106.14 billion, a PE ratio of 41.08, a PEG ratio of 1.25 and a beta of 1.55.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share 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 firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The company's revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Spotify Technology will post 14.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction that occurred 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 sale, the chief executive officer owned 69,989 shares of the company's stock, valued at approximately $33,560,425.39. The trade was a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total transaction 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 position. The SEC filing for this sale provides additional information. Insiders have sold a total of 90,609 shares of company stock worth $44,303,507 in the last three months. Insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SPOT shares. JPMorgan Chase & Co. lifted their price objective on shares of Spotify Technology from $600.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, May 22nd. Morgan Stanley boosted their target price on Spotify Technology from $590.00 to $610.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. Rosenblatt Securities boosted their target price on Spotify Technology from $500.00 to $534.00 and gave the stock a "neutral" rating in a research note on Friday, May 22nd. Citizens Jmp boosted their target price on Spotify Technology from $600.00 to $625.00 and gave the stock a "market outperform" rating in a research note on Friday, May 22nd. Finally, Arete Research upgraded Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 target price on the stock in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Spotify Technology 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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