Quantitative Investment Management LLC Acquires New Holdings in Spotify Technology $SPOT

Quantitative Investment Management LLC bought a new position in Spotify Technology (NYSE:SPOT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,919 shares of the company’s stock, valued at approximately $5,013,000.

A number of other large investors have also added to or reduced their stakes in the stock. SPX Gestao de Recursos Ltda purchased a new stake in Spotify Technology during the 2nd quarter valued at $3,960,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Spotify Technology in the 2nd quarter worth $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of Spotify Technology in the second quarter worth $34,292,000. Ancora Advisors LLC bought a new stake in shares of Spotify Technology in the second quarter worth $3,049,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Spotify Technology during the second quarter valued at $100,867,000. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Stock Performance

NYSE SPOT opened at $548.35 on Monday. The company has a market capitalization of $112.89 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.58. The business’s fifty day moving average is $493.67 and its 200 day moving average is $489.23. Spotify Technology has a fifty-two week low of $405.00 and a fifty-two week high of $745.00.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $3.03 EPS for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.13). Spotify Technology had a return on equity of 41.39% and a net margin of 18.44%.The company had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.47 billion. During the same quarter in the previous year, the company earned ($0.42) EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts forecast that Spotify Technology will post 14.3 EPS for the current year.

Insider Buying and Selling

In related news, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total value of $2,729,415.60. Following the completion of the sale, the chief executive officer directly owned 66,773 shares of the company’s stock, valued at approximately $33,526,723.30. This represents a 7.53% 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 stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $496.52, for a total transaction of $10,344,001.16. Following the completion of the sale, the chief executive officer directly owned 20,376 shares of the company’s stock, valued at $10,117,091.52. This represents a 50.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 73,371 shares of company stock valued at $36,222,251. 0.40% of the stock is currently owned by corporate insiders.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: A bullish analysis argues that Spotify’s improving fundamentals and stock price well below last year’s peak could create substantial upside through 2030. The thesis highlights a potential disconnect between the company’s operating performance and its valuation, despite Spotify’s latest quarterly revenue rising 13.9% year over year. Prediction: Spotify Stock Could Be a Monster Winner by 2030
• Positive Sentiment: Spotify launched Premium Early Access in India, giving paying subscribers earlier access to releases from prominent artists including Badshah and Harrdy Sandhu. The initiative could improve premium-user engagement, strengthen Spotify’s position in India and support future monetization in a large growth market. Spotify launches Premium Early Access in India
• Neutral Sentiment: A discussion of Sweden’s startup ecosystem provides broader technology-sector context but does not announce a material change to Spotify’s operations, financial outlook or valuation. How Sweden built one of Europe’s hottest startup ecosystems
• Negative Sentiment: Spotify’s ad-skipping feature is raising questions about the company’s podcast strategy. Although it may improve the listener experience, easier avoidance of podcast ads could reduce advertising value or complicate revenue sharing for creators and Spotify. Spotify Ad-Skipping Feature Blurs Company Impact On Podcasting

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SPOT shares. JPMorgan Chase & Co. increased their target price on Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Rosenblatt Securities cut their price target on Spotify Technology from $531.00 to $527.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Argus reaffirmed a “buy” rating and set a $600.00 price target on shares of Spotify Technology in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $609.05.

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.