Spotify Technology $SPOT Shares Bought by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Spotify stake by 29.1% in Q1, buying an additional 70,933 shares and bringing its total holding to 314,453 shares valued at about $147.8 million.
• Institutional ownership remains high at 84.09%, while insiders have sold 111,442 shares over the last 90 days, including notable sales by CEO Gustav Soderstrom and Director Thomas O. Staggs.
• Analysts remain broadly positive on Spotify, with a consensus rating of “Moderate Buy” and an average price target of $638.58, despite mixed recent moves from firms adjusting targets and ratings.

Allspring Global Investments Holdings LLC raised its stake in Spotify Technology (NYSE:SPOT - Free Report) by 29.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 314,453 shares of the company's stock after purchasing an additional 70,933 shares during the period. Allspring Global Investments Holdings LLC owned 0.15% of Spotify Technology worth $147,796,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quadcap Wealth Management LLC lifted its stake in Spotify Technology by 5.7% during the third quarter. Quadcap Wealth Management LLC now owns 295 shares of the company's stock worth $206,000 after purchasing an additional 16 shares during the last quarter. Sagespring Wealth Partners LLC increased its stake in Spotify Technology by 2.9% during the fourth quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company's stock valued at $370,000 after purchasing an additional 18 shares during the last quarter. Objectivity Squared LLC raised its holdings in shares of Spotify Technology by 0.8% during the fourth quarter. Objectivity Squared LLC now owns 2,582 shares of the company's stock worth $1,499,000 after purchasing an additional 20 shares during the period. GAMMA Investing LLC raised its holdings in shares of Spotify Technology by 1.4% during the fourth quarter. GAMMA Investing LLC now owns 1,667 shares of the company's stock worth $968,000 after purchasing an additional 23 shares during the period. Finally, Greenleaf Trust lifted its position in shares of Spotify Technology by 5.8% in the 4th quarter. Greenleaf Trust now owns 455 shares of the company's stock worth $264,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company's stock.

Insider Transactions at Spotify Technology

In other Spotify Technology news, CEO Gustav Soderstrom sold 20,833 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $430.72, for a total transaction of $8,973,189.76. Following the sale, the chief executive officer directly owned 20,492 shares in the company, valued at approximately $8,826,314.24. The trade was a 50.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Thomas O. Staggs sold 5,477 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the sale, the director directly owned 3,619 shares of the company's stock, valued at approximately $1,903,594. This represents a 60.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 111,442 shares of company stock worth $54,757,553 over the last ninety days. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on SPOT. Wall Street Zen raised shares of Spotify Technology from a "hold" rating to a "buy" rating in a report on Sunday, July 12th. Wells Fargo & Company dropped their price objective on shares of Spotify Technology from $600.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut shares of Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, June 23rd. Barclays lifted their target price on Spotify Technology from $500.00 to $565.00 and gave the company an "overweight" rating in a research note on Friday, May 22nd. Finally, Guggenheim lowered their target price on Spotify Technology from $600.00 to $565.00 and set a "buy" rating for the company in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $638.58.

Key Headlines Impacting Spotify Technology

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

• Positive Sentiment: Spotify rolled out a new AI assistant that helps users search music, create playlists, and discover podcasts by speaking naturally, highlighting product innovation and potentially boosting user engagement. Spotify's new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and $600 price target, citing upcoming catalysts such as AI remixing features and a possible Warner Music Group remixing agreement, which supports a bullish longer-term view. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Positive Sentiment: Spotify expanded parent-managed accounts to its free tier in several major markets, a move that could widen adoption among families and improve the platform’s ecosystem. Spotify expands parent-managed accounts to users on its free tier
• Neutral Sentiment: Back Market announced new partnerships with Duolingo and Spotify as part of its back-to-school campaign, but the announcement appears more promotional than financially material for SPOT. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase - And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Singer Lorde criticized Spotify over sloppy AI-generated song descriptions, adding to concerns that Spotify’s AI rollout could face backlash around quality and trust. Lorde slams Spotify over sloppy AI-generated song descriptions
• Negative Sentiment: Recent market coverage noted that Spotify dipped more than the broader market, suggesting investors are still focused on valuation and near-term execution despite the company’s strong fundamentals. Why Spotify (SPOT) Dipped More Than Broader Market Today

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $475.67 on Friday. The business's fifty day moving average price is $475.16 and its two-hundred day moving average price is $491.82. The company has a market capitalization of $97.93 billion, a P/E ratio of 37.90, a PEG ratio of 1.19 and a beta of 1.56. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $748.30.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.63. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The company had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.23 billion. During the same quarter in the prior year, the business posted $1.07 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that Spotify Technology will post 14.59 earnings per share for the current fiscal 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.

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