Spotify Technology $SPOT Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in Spotify Technology (NYSE:SPOT - Free Report) by 113.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,712 shares of the company's stock after purchasing an additional 7,276 shares during the period. Intech Investment Management LLC's holdings in Spotify Technology were worth $7,963,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Spotify Technology by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 1,720,259 shares of the company's stock valued at $991,223,000 after purchasing an additional 93,274 shares during the period. Fidelis Capital Partners LLC increased its holdings in shares of Spotify Technology by 2.7% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,094 shares of the company's stock valued at $635,000 after purchasing an additional 29 shares during the period. Employees Retirement System of Texas grew its holdings in Spotify Technology by 2,886.0% during the fourth quarter. Employees Retirement System of Texas now owns 100,209 shares of the company's stock worth $58,192,000 after acquiring an additional 96,853 shares during the period. GS Investments Inc. grew its holdings in Spotify Technology by 51.2% during the fourth quarter. GS Investments Inc. now owns 2,650 shares of the company's stock worth $1,539,000 after acquiring an additional 897 shares during the period. Finally, Wealth Advisors of Tampa Bay LLC grew its holdings in Spotify Technology by 31.0% during the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 3,423 shares of the company's stock worth $1,988,000 after acquiring an additional 810 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPOT shares. Canaccord Genuity Group dropped their price objective on Spotify Technology from $750.00 to $720.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Arete Research raised Spotify Technology from a "neutral" rating to a "buy" rating and set a $586.00 price objective on the stock in a report on Thursday, February 26th. Weiss Ratings raised Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, May 4th. Wells Fargo & Company boosted their target price on Spotify Technology from $580.00 to $600.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, 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 report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average price target of $655.92.

Insider Transactions at Spotify Technology

In other news, Director Christopher P. Marshall sold 2,650 shares of Spotify Technology stock in a transaction dated 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 transaction, the director directly owned 4,039 shares of the company's stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Alex Norstrom sold 5,436 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was 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 $33,560,425.39. The trade was a 7.21% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 90,609 shares of company stock valued at $44,303,507. Corporate insiders own 0.40% of the company's stock.

Spotify Technology Trading Down 3.9%

Spotify Technology stock opened at $496.41 on Friday. The firm has a market capitalization of $102.20 billion, a P/E ratio of 39.55, a PEG ratio of 1.21 and a beta of 1.55. The stock has a fifty day moving average price of $479.44 and a 200 day moving average price of $519.98. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $785.00.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.41 by $0.63. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business's quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. As a group, equities analysts predict that Spotify Technology will post 14.72 EPS for the current year.

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.

Want to see what other hedge funds are holding SPOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Spotify Technology (NYSE:SPOT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.