Spotify Technology $SPOT Holdings Increased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its Spotify stake by 372.6% in the third quarter, bringing its holdings to 3,696 shares valued at approximately $1.8 million. Institutional investors collectively own 84.09% of SPOT.
• Spotify shares opened at $532.69, while analysts maintain a “Moderate Buy” consensus with an average price target of $610.25. However, StoneX downgraded the stock to Hold, citing limited near-term revenue-per-user catalysts and higher record-label payments.
• Investors face mixed upcoming catalysts: Spotify’s earnings report is expected to show declining earnings, while AI-driven personalization and expanded Siri integration could support longer-term engagement and monetization. CEO Gustav Söderström also sold about $11.1 million in shares to cover taxes on vested equity awards.

First Citizens Bank & Trust Co. lifted its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 372.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,696 shares of the company's stock after acquiring an additional 2,914 shares during the period. First Citizens Bank & Trust Co.'s holdings in Spotify Technology were worth $1,801,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new position in shares of Spotify Technology in the 2nd quarter worth $27,000. Portus Wealth Advisors LLC acquired a new position in Spotify Technology in the first quarter valued at $32,000. Whipplewood Advisors LLC boosted its holdings in Spotify Technology by 423.1% in the first quarter. Whipplewood Advisors LLC now owns 68 shares of the company's stock valued at $33,000 after acquiring an additional 55 shares during the last quarter. Palladiem LLC purchased a new stake in Spotify Technology during the first quarter valued at about $34,000. Finally, Osbon Capital Management LLC purchased a new stake in Spotify Technology during the fourth quarter valued at about $35,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Key Spotify Technology News

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

• Positive Sentiment: Spotify outperformed the broader market in the latest session, suggesting investors may be focusing on its improving profitability and long-term growth prospects ahead of its upcoming earnings report. Why Spotify outpaced the stock market
• Positive Sentiment: Baillie Gifford highlighted Spotify’s potential to benefit from artificial-intelligence-driven personalization and deeper listener insights, which could support engagement, targeting and monetization over time. Spotify AI personalization opportunity
• Positive Sentiment: Expanded Siri functionality in Apple’s iOS 27 makes Spotify easier to control by voice, potentially improving discovery and usage among iPhone customers. Spotify Siri integration
• Neutral Sentiment: StoneX downgraded SPOT to Hold from Buy, citing limited near-term catalysts for revenue per user and higher payments to record labels. The call adds pressure to a stock trading at a premium earnings multiple. StoneX Spotify downgrade
• Neutral Sentiment: Spotify is expected to report earnings soon, but analysts anticipate a decline in earnings and see limited evidence of a likely consensus beat. Investors will focus on margins, subscriber trends and management’s outlook. Spotify earnings expectations
• Negative Sentiment: Reports that lossless audio is disrupting the Spotify desktop application could hurt customer satisfaction and complicate the rollout of a higher-quality service. Spotify lossless audio issues
• Negative Sentiment: CEO Gustav Söderström sold approximately $11.1 million of shares, reducing his direct holdings by more than half. The filing says the sale covered tax withholding on vested equity awards, which limits—but does not eliminate—the negative signaling effect. Spotify CEO SEC filing

Spotify Technology Price Performance

Shares of NYSE SPOT opened at $532.69 on Friday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $696.95. The business has a 50-day moving average of $521.34 and a 200-day moving average of $495.34. The company has a market capitalization of $109.67 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 1.61 and a beta of 1.61.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its earnings results 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). The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.47 billion. Spotify Technology had a net margin of 18.44% and a return on equity of 41.39%. Spotify Technology's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.42) EPS. Research analysts expect that Spotify Technology will post 13.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SPOT shares. Wall Street Zen lowered Spotify Technology from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Argus reaffirmed a "buy" rating and issued a $600.00 price objective on shares of Spotify Technology in a research note on Thursday, August 13th. Piper Sandler initiated coverage on Spotify Technology in a research note on Thursday, October 8th. They issued a "neutral" rating and a $540.00 price objective on the stock. UBS Group decreased their target price on Spotify Technology from $690.00 to $675.00 and set a "buy" rating for the company in a report on Monday, October 5th. Finally, Weiss Ratings raised shares of Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $610.25.

Insider Activity at Spotify Technology

In other news, CEO Gustav Söderström sold 20,910 shares of the company's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the completion of the transaction, the chief executive officer directly owned 19,908 shares in the company, valued at approximately $10,553,828.04. This represents a 51.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Alex Norström sold 5,436 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the transaction, the chief executive officer owned 66,773 shares in the company, valued at $33,526,723.30. This represents a 7.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 68,092 shares of company stock valued at $35,762,410 in the last ninety days. 0.40% of the stock is owned by corporate insiders.

Spotify Technology Company Profile

Spotify Technology SA is a global audio streaming company that operates the Spotify platform. The service provides users with access to a broad catalog of music, podcasts and audiobooks, along with personalized recommendations, playlists and other discovery features.

Spotify offers a subscription-based Premium service with enhanced listening features, as well as an ad-supported service available at no direct cost to users. The company generates revenue primarily through Premium subscriptions and advertising, including audio, video and display advertising delivered across its platform.

Founded in 2006 by Daniel Ek and Martin Lorentzon, Spotify is headquartered in Stockholm, Sweden, and serves listeners, creators, advertisers and other partners across markets worldwide.

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