Spotify Technology (NYSE:SPOT) Stock Unloaded Rep. Bruce Westerman

Representative Bruce Westerman (R-Arkansas) recently sold shares of Spotify Technology S.A. NYSE: SPOT. In a filing disclosed on May 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Spotify Technology stock on April 21st. The trade occurred in the Representative's "FISHER IRA" account.

Representative Bruce Westerman also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of UniCredit OTCMKTS: UNCRY on 4/21/2025.
• Sold $1,001 - $15,000 in shares of CSX NASDAQ: CSX on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Siemens Aktiengesellschaft OTCMKTS: SIEGY on 4/21/2025.
• Sold $1,001 - $15,000 in shares of GSK NYSE: GSK on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Charles Schwab NYSE: SCHW on 4/21/2025.
• Sold $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Abbott Laboratories NYSE: ABT on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Eli Lilly and Company NYSE: LLY on 4/21/2025.
• Sold $15,001 - $50,000 in shares of NVIDIA NASDAQ: NVDA on 4/21/2025.
• Sold $1,001 - $15,000 in shares of Chevron NYSE: CVX on 4/21/2025.

Spotify Technology Stock Performance

Shares of NYSE:SPOT traded up $15.84 during midday trading on Friday, hitting $656.02. The company's stock had a trading volume of 2,222,366 shares, compared to its average volume of 2,191,867. The company has a market cap of $134.29 billion, a P/E ratio of 110.26 and a beta of 1.72. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $663.55. The business's 50 day simple moving average is $582.66 and its 200 day simple moving average is $530.69.

Spotify Technology (NYSE:SPOT - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. On average, sell-side analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SPOT shares. Guggenheim upped their price target on Spotify Technology from $675.00 to $725.00 and gave the company a "buy" rating in a research report on Monday. Rosenblatt Securities dropped their price target on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Barclays dropped their price target on Spotify Technology from $710.00 to $650.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Spotify Technology from $640.00 to $670.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Phillip Securities upgraded Spotify Technology to a "moderate sell" rating in a report on Monday, May 5th. Eight analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $606.48.

Institutional Trading of Spotify Technology

Hedge funds have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its stake in shares of Spotify Technology by 566.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,980 shares of the company's stock valued at $3,541,000 after acquiring an additional 6,782 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $1,335,575,000. Marks Group Wealth Management Inc acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $535,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at $214,000. Finally, Swedbank AB raised its stake in shares of Spotify Technology by 20.9% in the fourth quarter. Swedbank AB now owns 946,129 shares of the company's stock valued at $423,279,000 after acquiring an additional 163,626 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

About Representative Westerman

Bruce Westerman (Republican Party) is a member of the U.S. House, representing Arkansas' 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Westerman (Republican Party) is running for re-election to the U.S. House to represent Arkansas' 4th Congressional District. He declared candidacy for the 2026 election. Westerman earned his BSBAGE in biological and agricultural engineering from the University of Arkansas in 1990 and his MF in forestry from Yale University in 2001. His professional experience includes working as a plant engineer for Riceland Foods and an engineer/forester for Mid-South Engineering Company.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.