Spotify Technology (NYSE:SPOT) Stock Acquired Rep. Jefferson Shreve

Representative Jefferson Shreve (R-Indiana) recently bought shares of Spotify Technology S.A. (NYSE:SPOT). In a filing disclosed on May 08th, the Representative disclosed that they had bought between $15,001 and $50,000 in Spotify Technology stock on April 11th. The trade occurred in the Representative’s “CRT – NIMCRUT” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Chipotle Mexican Grill (NYSE:CMG) on 4/17/2025.
• Purchased $50,001 – $100,000 in shares of Applied Materials (NASDAQ:AMAT) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Caterpillar (NYSE:CAT) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Lululemon Athletica (NASDAQ:LULU) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Western Digital (NASDAQ:WDC) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Zoetis (NYSE:ZTS) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of CSX (NASDAQ:CSX) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Ross Stores (NASDAQ:ROST) on 4/17/2025.

Spotify Technology Stock Performance

SPOT opened at $648.97 on Friday. Spotify Technology S.A. has a twelve month low of $286.21 and a twelve month high of $663.55. The firm has a market cap of $132.85 billion, a price-to-earnings ratio of 109.07 and a beta of 1.72. The firm’s 50-day simple moving average is $575.47 and its 200-day simple moving average is $524.89.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the subject of several recent analyst reports. Macquarie upped their target price on shares of Spotify Technology from $600.00 to $665.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. The Goldman Sachs Group increased 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. Canaccord Genuity Group lifted their target price on Spotify Technology from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. Wolfe Research raised Spotify Technology from a “peer perform” rating to an “outperform” rating and set a $660.00 price target for the company in a research report on Monday, April 21st. Finally, FBN Securities started coverage on shares of Spotify Technology in a research note on Friday, March 28th. They set a “sector perform” rating and a $645.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $604.76.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPOT. Altfest L J & Co. Inc. bought a new position in shares of Spotify Technology during the first quarter worth approximately $1,321,000. Deutsche Bank AG increased its holdings in shares of Spotify Technology by 26.8% during the first quarter. Deutsche Bank AG now owns 1,207,847 shares of the company’s stock worth $664,352,000 after purchasing an additional 255,432 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Spotify Technology in the 1st quarter valued at $171,000. ASR Vermogensbeheer N.V. acquired a new position in Spotify Technology in the first quarter valued at about $1,943,000. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Spotify Technology by 3.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 477 shares of the company’s stock worth $262,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

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Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

Spotify Technology Company Profile

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.