Spotify Technology $SPOT Shares Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. raised its stake in shares of Spotify Technology (NYSE:SPOT - Free Report) by 90.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,754 shares of the company's stock after acquiring an additional 2,264 shares during the period. SummitTX Capital L.P.'s holdings in Spotify Technology were worth $2,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Spotify Technology in the 4th quarter valued at approximately $711,460,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Spotify Technology by 1,382.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,247,182 shares of the company's stock worth $724,251,000 after purchasing an additional 1,163,045 shares during the period. Coatue Management LLC lifted its holdings in shares of Spotify Technology by 35.9% during the fourth quarter. Coatue Management LLC now owns 2,450,881 shares of the company's stock worth $1,423,251,000 after purchasing an additional 647,708 shares during the period. National Pension Service acquired a new position in Spotify Technology in the 4th quarter valued at $316,278,000. Finally, Swedbank AB increased its stake in Spotify Technology by 37.9% in the 4th quarter. Swedbank AB now owns 1,616,321 shares of the company's stock valued at $938,614,000 after buying an additional 444,162 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

More Spotify Technology News

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

• Positive Sentiment: Spotify’s integration with Snapchat will enable real-time music sharing, potentially increasing song discovery, engagement and traffic to the Spotify platform. Snapchat introduces real-time music sharing through Spotify integration
• Positive Sentiment: A Q2 preview from Seeking Alpha projects strong user growth and argues that Spotify shares are attractive after falling toward the lower end of their 52-week range. The view is supported by Spotify’s solid Q1 performance, including earnings that exceeded expectations, although Q2 guidance was weaker than anticipated. Spotify Q2 Preview: Expecting Strong User Growth, Shares Attractive
• Positive Sentiment: KeyCorp maintained its Overweight rating and $680 price target, implying substantial potential upside from recent trading levels despite trimming its forecasts.
• Neutral Sentiment: Spotify’s Q2 earnings release is approaching, with consensus expectations calling for approximately $3.78 to $3.41 per share depending on the estimate set. Investors are likely focused on subscriber additions, advertising trends, margins and management’s outlook. Analysts note that Spotify lacks the typical combination of positive earnings revisions and a strong earnings-surprise trend that would signal a likely beat. Spotify Earnings Expected to Grow: Should You Buy?
• Negative Sentiment: KeyCorp lowered its EPS estimates for Q2 2026 to $3.78, Q3 to $4.03, Q4 to $4.92, FY2026 to $16.64 and FY2027 to $21.61. The cuts suggest more cautious expectations for Spotify’s near-term earnings momentum, even though the firm retained its bullish rating and target price.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SPOT shares. Cantor Fitzgerald boosted their price target on shares of Spotify Technology from $430.00 to $520.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 26th. The Goldman Sachs Group dropped their target price on Spotify Technology from $670.00 to $600.00 and set a "buy" rating on the stock in a research report on Wednesday, April 29th. Barclays increased their target price on Spotify Technology from $500.00 to $565.00 and gave the stock an "overweight" rating in a research note on Friday, May 22nd. UBS Group decreased their price target on Spotify Technology from $735.00 to $690.00 and set a "buy" rating on the stock in a research note on Friday, July 10th. Finally, Guggenheim decreased their price target on Spotify Technology from $600.00 to $565.00 and set a "buy" rating on the stock in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $630.70.

Insiders Place Their Bets

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $480.86, for a total transaction of $2,613,954.96. Following the completion of the transaction, the chief executive officer directly owned 67,582 shares in the company, valued at approximately $32,497,480.52. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Gustav Soderstrom sold 20,833 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $478.45, for a total transaction of $9,967,548.85. Following the transaction, the chief executive officer owned 20,259 shares of the company's stock, valued at $9,692,918.55. This trade represents a 50.70% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 111,442 shares of company stock worth $54,757,553. 0.40% of the stock is owned by company insiders.

Spotify Technology Stock Performance

SPOT opened at $512.11 on Wednesday. The company has a market cap of $105.43 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 1.23 and a beta of 1.56. Spotify Technology has a one year low of $405.00 and a one year high of $748.30. The business's fifty day moving average is $484.06 and its two-hundred day moving average is $486.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.41 by $0.63. The business had revenue of $5.25 billion during the quarter, compared to analysts' expectations of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $1.07 earnings per share. On average, analysts predict that Spotify Technology will post 14.46 EPS for the current fiscal year.

Spotify Technology Company Profile

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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