Key Points
- Spotify CEO Gustav Söderström sold 20,910 shares for about $12.53 million, cutting his reported holdings by 51.37% to 19,792 shares. The SEC filing says the sale covered tax withholding on vested equity awards.
- Spotify shares recently traded at $611.79. In its latest reported quarter, revenue rose 16.3% year over year to $5.63 billion, while earnings per share of $2.81 fell short of analyst expectations of $3.18.
- Analysts give Spotify a consensus “Moderate Buy” rating, with an average price target of $620.07; 23 analysts rate the stock Buy, nine Hold, and one Sell.
Spotify Technology (NYSE:SPOT - Get Free Report) CEO Gustav Söderström sold 20,910 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $599.37, for a total transaction of $12,532,826.70. Following the transaction, the chief executive officer directly owned 19,792 shares of the company's stock, valued at approximately $11,862,731.04. This trade represents a 51.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Gustav Soderstrom also recently made the following trade(s):
- On Monday, October 12th, Gustav Söderström sold 20,910 shares of Spotify Technology stock. The stock was sold at an average price of $530.13, for a total transaction of $11,085,018.30.
- On Monday, September 14th, Gustav Söderström sold 20,913 shares of Spotify Technology stock. The stock was sold at an average price of $544.19, for a total transaction of $11,380,645.47.
Spotify Technology Price Performance
Shares of SPOT stock traded up $13.28 during trading hours on Friday, reaching $611.79. The stock had a trading volume of 968,237 shares, compared to its average volume of 1,931,504. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $654.68. The firm has a 50-day simple moving average of $542.95 and a 200-day simple moving average of $502.95. The firm has a market capitalization of $125.96 billion, a PE ratio of 40.56, a price-to-earnings-growth ratio of 1.86 and a beta of 1.49.
Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.81 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.37). The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. Spotify Technology had a net margin of 15.74% and a return on equity of 35.64%. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.28 earnings per share. On average, equities analysts anticipate that Spotify Technology will post 13.60 earnings per share for the current year.
Institutional Investors Weigh In On Spotify Technology
A number of institutional investors have recently added to or reduced their stakes in SPOT. Pin Oak Investment Advisors Inc. bought a new position in Spotify Technology during the 2nd quarter valued at $27,000. Palladiem LLC acquired a new position in shares of Spotify Technology during the 1st quarter valued at $34,000. Fairscale Capital LLC increased its position in shares of Spotify Technology by 35.2% during the 3rd quarter. Fairscale Capital LLC now owns 73 shares of the company's stock valued at $36,000 after purchasing an additional 19 shares during the period. Tsfg LLC increased its position in shares of Spotify Technology by 39.7% during the 2nd quarter. Tsfg LLC now owns 81 shares of the company's stock valued at $37,000 after purchasing an additional 23 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in shares of Spotify Technology by 142.9% in the 3rd quarter. Elevation Wealth Partners LLC now owns 85 shares of the company's stock worth $41,000 after buying an additional 50 shares in the last quarter. 84.09% of the stock is currently owned by institutional investors and hedge funds.
Key Spotify Technology News
These are some of the SPOT news items that stood out recently:
- Positive Sentiment: Spotify launched audiobooks in India, offering 15 listening hours per month for Rs 199 and titles in eight languages. The move expands its paid audio offering in a large market and could support subscriber engagement and revenue growth. Article: Spotify introduces audiobooks in India
- Positive Sentiment: The company added nine AI DJ voices, including an Indian-accented option, and gave Premium users a setting to reduce or disable commentary. These personalization updates may improve the listening experience and help retain users. Article: Spotify adds AI DJ voices and commentary controls
- Neutral Sentiment: CEO Gustav Söderström sold 20,910 shares, reducing his reported stake by 51.37%. The filing says the sale covered tax withholding obligations tied to vested equity awards, which makes it a less direct bearish signal than a sale explicitly made for investment reasons. SEC filing
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Spotify Technology from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, August 26th. Phillip Securities cut Spotify Technology from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, October 26th. Guggenheim boosted their price objective on Spotify Technology from $575.00 to $650.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Citizens Jmp reissued a "market outperform" rating and issued a $625.00 price objective on shares of Spotify Technology in a report on Friday, October 23rd. Finally, Argus reissued a "buy" rating and issued a $600.00 price objective on shares of Spotify Technology in a report on Thursday, August 13th. Twenty-three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Spotify Technology has an average rating of "Moderate Buy" and an average target price of $620.07.
View Our Latest Research Report on Spotify Technology
About Spotify Technology
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Spotify Technology operates a digital audio streaming platform offering music, podcasts and audiobooks. Listeners can use the service through a free, advertising-supported option or paid subscriptions, with features for discovering, organizing and sharing audio content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon, Spotify launched its streaming service in 2008. The company serves listeners and creators in markets around the world and provides tools and services for artists, podcasters, authors and other content partners.
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