Key Points
- Spotify CEO Alex Norstrom sold 5,436 shares at an average price of $502.10, generating approximately $2.73 million. The sale was made to cover tax withholding tied to vested equity awards, and he retained 66,773 shares.
- Spotify shares opened at $483.75, with a market capitalization of about $99.6 billion and a 52-week range of $405.00 to $748.30. Institutional investors own approximately 84.09% of the company.
- Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $630, despite several recent target reductions and a second-quarter adjusted earnings miss.
Spotify Technology (NYSE:SPOT - Get Free Report) CEO Alex Norstrom sold 5,436 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $502.10, for a total value of $2,729,415.60. Following the sale, the chief executive officer directly owned 66,773 shares of the company's stock, valued at $33,526,723.30. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Alex Norstrom also recently made the following trade(s):
- On Monday, July 6th, Alex Norstrom sold 5,436 shares of Spotify Technology stock. The shares were sold at an average price of $480.86, for a total value of $2,613,954.96.
Spotify Technology Stock Performance
Shares of NYSE SPOT opened at $483.75 on Thursday. The business has a 50 day simple moving average of $483.95 and a 200 day simple moving average of $485.29. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $748.30. The stock has a market cap of $99.60 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.19 and a beta of 1.58.
Institutional Trading of Spotify Technology
Several hedge funds have recently added to or reduced their stakes in the business. Portus Wealth Advisors LLC bought a new position in Spotify Technology in the 1st quarter worth approximately $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $32,000. Whipplewood Advisors LLC boosted its position in shares of Spotify Technology by 423.1% in the first quarter. Whipplewood Advisors LLC now owns 68 shares of the company's stock valued at $33,000 after acquiring an additional 55 shares during the period. Palladiem LLC acquired a new stake in shares of Spotify Technology in the first quarter worth $34,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Spotify Technology in the fourth quarter worth $35,000. Institutional investors own 84.09% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SPOT. Benchmark dropped their price target on shares of Spotify Technology from $695.00 to $650.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings cut Spotify Technology from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 23rd. Wells Fargo & Company decreased their price target on Spotify Technology from $600.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. Citizens Jmp increased their price objective on Spotify Technology from $600.00 to $625.00 and gave the company a "market outperform" rating in a report on Friday, May 22nd. Finally, Cantor Fitzgerald raised their price objective on Spotify Technology from $510.00 to $530.00 and gave the company a "neutral" rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $630.00.
Read Our Latest Stock Analysis on Spotify Technology
Trending Headlines about Spotify Technology
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Spotify surpassed 300 million Premium subscribers for the first time and reported 777 million monthly active users, up 12% year over year. Revenue rose 14% to approximately €4.78 billion, while net income reached €545 million versus a loss a year earlier. Spotify now has over 300 million subscribers
- Positive Sentiment: Management issued a solid third-quarter revenue outlook of roughly €5.0 billion, with projected operating income of €670 million and a 32.9% gross margin. Record margins, subscriber gains and stronger cash flow support the long-term profitability story. Spotify profit surge and 300 million subscribers
- Positive Sentiment: Analyst support remains constructive: Guggenheim reaffirmed a Buy rating with a $565 price target, while Cantor Fitzgerald raised its target to $530, although it retained a Neutral rating.
- Neutral Sentiment: Spotify is expanding AI capabilities, including consent-based remix and cover tools through partnerships with Universal Music Group and Merlin. The initiatives could create new engagement and monetization opportunities, but will require additional investment. Merlin signs Spotify AI licensing deal
- Negative Sentiment: Second-quarter adjusted earnings were below consensus—approximately $3.00 per share versus estimates ranging from $3.16 to $3.27—as higher marketing, cloud and AI expenses offset operational gains. Spotify Q2 earnings miss
- Negative Sentiment: Third-quarter MAU guidance of 788 million implies the slowest quarterly user growth since 2018, while profit guidance fell short of Wall Street expectations. Slower growth in North America and Europe is particularly concerning for monetization.
- Negative Sentiment: CEO Gustav Soderstrom and co-CEO Alex Norstrom sold shares to cover tax withholding on vested equity awards. The transactions were disclosed as tax-related rather than discretionary selling, limiting—but not eliminating—their negative signaling value.
Spotify Technology Company Profile
(
Get Free Report)
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.
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