World Investment Advisors Buys 1,165 Shares of Spotify Technology $SPOT

World Investment Advisors grew its stake in shares of Spotify Technology (NYSE:SPOT) by 59.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,128 shares of the company’s stock after acquiring an additional 1,165 shares during the period. World Investment Advisors’ holdings in Spotify Technology were worth $1,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadcap Wealth Management LLC raised its position in shares of Spotify Technology by 5.7% during the 3rd quarter. Quadcap Wealth Management LLC now owns 295 shares of the company’s stock worth $206,000 after purchasing an additional 16 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of Spotify Technology by 6.3% during the 3rd quarter. Sage Mountain Advisors LLC now owns 289 shares of the company’s stock worth $201,000 after purchasing an additional 17 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in shares of Spotify Technology by 2.9% during the 4th quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company’s stock worth $370,000 after purchasing an additional 18 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in Spotify Technology by 7.9% in the 3rd quarter. Ameritas Advisory Services LLC now owns 260 shares of the company’s stock valued at $181,000 after acquiring an additional 19 shares during the last quarter. Finally, Aprio Wealth Management LLC raised its holdings in Spotify Technology by 3.1% in the 3rd quarter. Aprio Wealth Management LLC now owns 633 shares of the company’s stock valued at $442,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology Price Performance

Spotify Technology stock opened at $436.74 on Friday. The firm has a 50 day simple moving average of $487.47 and a 200-day simple moving average of $530.60. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The stock has a market cap of $89.92 billion, a price-to-earnings ratio of 34.80, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $4.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.63. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. Equities analysts expect that Spotify Technology will post 14.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on SPOT. The Goldman Sachs Group cut their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Wells Fargo & Company cut their price objective on shares of Spotify Technology from $640.00 to $580.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. UBS Group cut their price objective on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Arete Research upgraded shares of Spotify Technology from a “neutral” rating to a “buy” rating and set a $586.00 price objective for the company in a report on Thursday, February 26th. Finally, Morgan Stanley began coverage on shares of Spotify Technology in a report on Monday, April 13th. They issued an “overweight” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $645.77.

More Spotify Technology News

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

• Positive Sentiment: Spotify said it will adopt Apple’s HLS video technology for podcasts, a move that should make it easier for creators to distribute and monetize video podcasts across platforms, including Apple Podcasts. That could broaden Spotify-hosted content’s reach and support engagement with creators. TechCrunch article
• Positive Sentiment: Related coverage from multiple outlets emphasized that Spotify’s hosting platforms are adopting Apple’s video podcast technology, reinforcing the idea that the company is improving creator tools and cross-platform publishing. MacRumors article
• Neutral Sentiment: Spotify also cut prices for its Premium Standard tier in India and discontinued Premium Lite there. The move could help subscriber growth in a key market, but it may also pressure average revenue per user, so the overall stock impact is unclear. Moneycontrol article
• Negative Sentiment: Pomerantz LLP announced an investigation into claims on behalf of Spotify investors, adding a potential legal and headline-risk overhang that can weigh on sentiment. PR Newswire article

Insider Buying and Selling

In related news, CEO Alex Norstrom sold 5,436 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the completion of the transaction, the chief executive officer owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This trade represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gustav Soderstrom sold 20,833 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total transaction of $9,864,842.16. Following the transaction, the chief executive officer directly owned 20,609 shares of the company’s stock, valued at $9,758,773.68. The trade was a 50.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,102 shares of company stock valued at $21,444,648 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

About Spotify Technology

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.