Spotify Technology $SPOT Shares Acquired by NewEdge Advisors LLC

Key Points

• NewEdge Advisors increased its Spotify stake by 456.1% in the first quarter, owning 63,311 shares worth approximately $30.7 million. Institutional investors and hedge funds collectively hold 84.09% of SPOT.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $630. Morgan Stanley and Barclays recently raised their targets, though Wells Fargo and KeyCorp lowered theirs.
• Spotify shares opened at $489.90, with a market capitalization of about $100.86 billion. Insiders sold approximately $59.1 million worth of stock over the past 90 days, including substantial sales by directors Sven Lorentzon and Christopher Marshall.

NewEdge Advisors LLC increased its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 456.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,311 shares of the company's stock after buying an additional 51,926 shares during the quarter. NewEdge Advisors LLC's holdings in Spotify Technology were worth $30,700,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SPOT. Portus Wealth Advisors LLC bought a new position in shares of Spotify Technology during the first quarter worth about $32,000. Kemnay Advisory Services Inc. acquired a new position in Spotify Technology during the 4th quarter valued at about $32,000. Whipplewood Advisors LLC grew its position in Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company's stock worth $33,000 after purchasing an additional 55 shares during the last quarter. Palladiem LLC bought a new position in Spotify Technology in the 1st quarter worth about $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $35,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SPOT shares. Morgan Stanley lifted their price target on Spotify Technology from $590.00 to $610.00 and gave the company an "overweight" rating in a report on Friday, May 22nd. Barclays raised their target price on Spotify Technology from $500.00 to $565.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Wells Fargo & Company cut their target price on Spotify Technology from $600.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Guggenheim reissued a "buy" rating and issued a $565.00 price target on shares of Spotify Technology in a research note on Wednesday. Finally, KeyCorp lowered their price target on Spotify Technology from $745.00 to $680.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Spotify Technology presently has a consensus rating of "Moderate Buy" and an average target price of $630.00.

Insider Buying and Selling

In other Spotify Technology news, Director Sven Hans Martin Lorentzon sold 35,380 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $525.73, for a total value of $18,600,327.40. Following the sale, the director directly owned 6,383 shares in the company, valued at approximately $3,355,734.59. The trade was a 84.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christopher P. Marshall sold 2,650 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were 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 of the company's stock, valued at $2,099,714.54. The trade was a 39.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 116,878 shares of company stock worth $59,081,110. 0.40% of the stock is owned by corporate insiders.

Spotify Technology Price Performance

SPOT opened at $489.90 on Friday. The company has a market capitalization of $100.86 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.16 and a beta of 1.58. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $748.30. The business has a 50 day moving average price of $483.03 and a two-hundred day moving average price of $485.12.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: Spotify surpassed 300 million Premium subscribers and reported 777 million monthly active users, up 12% year over year. Revenue increased 14% to approximately €4.78 billion, while net income reached €545 million, a significant improvement from the prior-year loss. Spotify now has over 300 million subscribers
• Positive Sentiment: Management forecast third-quarter revenue of roughly €5.0 billion and operating income of €670 million. Record margins, subscriber gains and stronger cash flow reinforce the long-term profitability argument. Spotify Q2 strengthens the long-term story
• Positive Sentiment: Wall Street remains broadly constructive. Guggenheim assigned a Buy rating with a $565 target, while Cantor Fitzgerald raised its price objective to $530, supporting the view that SPOT has further appreciation potential.
• Neutral Sentiment: Spotify is expanding AI features, including personalized podcasts in Germany that can use calendar and email information with user permission, as well as tools for fan-made covers and remixes. These initiatives could improve engagement and monetization but may increase costs and raise privacy concerns. Spotify plans AI podcasts for Germany
• Negative Sentiment: Despite beating headline revenue and earnings estimates, adjusted second-quarter earnings reportedly came in below consensus because higher marketing, cloud and AI expenses offset operational gains. Third-quarter profit guidance also fell short of investor expectations. Spotify Q2 earnings miss
• Negative Sentiment: Third-quarter guidance for 788 million monthly active users implies a marked slowdown in user growth, particularly in North America and Europe. Investors appear to be demanding faster growth and stronger near-term monetization, explaining the initial post-earnings pressure despite the quarterly beat.
• Negative Sentiment: Co-CEO Gustav Soderstrom sold 20,833 shares and CEO Alex Norstrom sold 5,436 shares to cover tax withholding on vested equity awards. Because the transactions were tax-related, their negative signaling value is limited, but the insider selling remains a near-term overhang. Spotify co-CEO stock sale

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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