Spotify Technology (NYSE:SPOT) Stock Unloaded Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) recently sold shares of Spotify Technology NYSE: SPOT. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in Spotify Technology stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

Spotify Technology Stock Up 1.7%

NYSE:SPOT traded up $11.43 during trading hours on Friday, hitting $692.85. 1,755,770 shares of the stock were exchanged, compared to its average volume of 2,244,213. The company's 50 day moving average is $700.63 and its two-hundred day moving average is $615.88. Spotify Technology has a twelve month low of $300.57 and a twelve month high of $785.00. The company has a market capitalization of $141.83 billion, a P/E ratio of 114.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.68.

Spotify Technology (NYSE:SPOT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($1.16). Spotify Technology had a return on equity of 22.53% and a net margin of 7.19%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the prior year, the company posted $0.97 EPS. The firm's quarterly revenue was up 15.2% compared to the same quarter last year. On average, equities research analysts expect that Spotify Technology will post 10.3 EPS for the current year.

Analysts Set New Price Targets

SPOT has been the topic of a number of analyst reports. Loop Capital increased their price target on Spotify Technology from $435.00 to $550.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Wells Fargo & Company raised their price objective on Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a research note on Friday, March 28th. Barclays raised their price objective on Spotify Technology from $650.00 to $800.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Rosenblatt Securities lowered their target price on Spotify Technology from $658.00 to $657.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, DZ Bank cut Spotify Technology from a "strong-buy" rating to a "strong sell" rating in a report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Spotify Technology currently has an average rating of "Moderate Buy" and an average target price of $727.52.

Institutional Investors Weigh In On Spotify Technology

Several hedge funds have recently bought and sold shares of SPOT. Mpwm Advisory Solutions LLC acquired a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $26,000. Hillsdale Investment Management Inc. acquired a new position in Spotify Technology during the fourth quarter valued at approximately $27,000. Tsfg LLC acquired a new position in shares of Spotify Technology during the first quarter worth $28,000. Copia Wealth Management acquired a new position in shares of Spotify Technology during the fourth quarter worth $29,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company's stock worth $29,000 after buying an additional 41 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.