Spotify Technology (NYSE:SPOT) Shares 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 Price Performance

Spotify Technology stock opened at $626.27 on Thursday. Spotify Technology S.A. has a 1-year low of $288.07 and a 1-year high of $663.55. The company has a market cap of $128.20 billion, a PE ratio of 105.26 and a beta of 1.72. The stock’s 50 day moving average price is $579.61 and its 200 day moving average price is $528.93.

Spotify Technology (NYSE:SPOT) last issued 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). The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Spotify Technology

Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC purchased a new stake in Spotify Technology during the fourth quarter valued at about $1,335,575,000. GQG Partners LLC purchased a new stake in Spotify Technology during the fourth quarter valued at about $800,725,000. Goldman Sachs Group Inc. grew its position in Spotify Technology by 1,151.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,740,803 shares of the company’s stock valued at $957,494,000 after acquiring an additional 1,601,653 shares during the period. Forsta AP Fonden purchased a new stake in Spotify Technology during the fourth quarter valued at about $619,600,000. Finally, Geode Capital Management LLC grew its position in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock valued at $659,841,000 after acquiring an additional 1,259,183 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPOT has been the subject of several research reports. Benchmark lifted their price objective on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group lifted their price objective on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Macquarie lifted their price objective on Spotify Technology from $600.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Loop Capital lifted their price objective on Spotify Technology from $435.00 to $550.00 and gave the stock a “hold” rating in a report on Friday, May 2nd. Finally, UBS Group cut their price target on Spotify Technology from $690.00 to $680.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and twenty have issued 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 $606.48.

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.