Bluebird Wealth Management LLC Makes New Investment in Spotify Technology $SPOT

Bluebird Wealth Management LLC purchased a new position in shares of Spotify Technology (NYSE:SPOT) during the 4th quarter, Holdings Channel.com reports. The fund purchased 3,787 shares of the company’s stock, valued at approximately $2,199,000. Spotify Technology accounts for 2.1% of Bluebird Wealth Management LLC’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SPOT. Sivia Capital Partners LLC acquired a new stake in Spotify Technology during the 2nd quarter worth about $312,000. Jump Financial LLC grew its position in Spotify Technology by 5.2% during the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock worth $869,000 after purchasing an additional 56 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Spotify Technology during the 2nd quarter worth about $178,000. NewEdge Advisors LLC grew its position in Spotify Technology by 36.9% during the 2nd quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock worth $9,707,000 after purchasing an additional 3,412 shares during the period. Finally, Glenview Trust co acquired a new stake in Spotify Technology during the 2nd quarter worth about $298,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Stock Up 1.6%

SPOT stock opened at $426.16 on Thursday. The company’s 50-day simple moving average is $497.53 and its 200-day simple moving average is $541.60. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00. The firm has a market cap of $87.74 billion, a P/E ratio of 33.96, a PEG ratio of 1.04 and a beta of 1.55.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.41 by $0.63. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 EPS. On average, analysts anticipate that Spotify Technology will post 14.51 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $473.52, for a total value of $9,864,842.16. Following the sale, the chief executive officer directly owned 20,609 shares in the company, valued at approximately $9,758,773.68. The trade was a 50.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $479.51, for a total value of $2,606,616.36. Following the completion of the sale, the chief executive officer owned 69,989 shares in the company, valued at approximately $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Spotify Technology in a research report on Monday, April 13th. They set an “overweight” rating and a $630.00 price target on the stock. Sanford C. Bernstein lowered their target price on shares of Spotify Technology from $830.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 14th. KeyCorp lowered their target price on shares of Spotify Technology from $745.00 to $680.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Moffett Nathanson initiated coverage on shares of Spotify Technology in a research note on Tuesday, January 27th. They set a “neutral” rating and a $487.00 target price on the stock. Finally, Cantor Fitzgerald lowered their target price on shares of Spotify Technology from $525.00 to $430.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and an average price target of $645.77.

Key Spotify Technology News

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

• Positive Sentiment: Analysts list SPOT among the “10 Best Fortune 500 Stocks to Buy,” citing roughly 33.6% upside — a visible vote of confidence that can prompt fresh buying from momentum and analyst-following investors. Is Spotify Technology (SPOT) One of the Best Fortune 500 Stocks to Buy According to Analysts?
• Positive Sentiment: Zacks and other outlets highlight Spotify in screens for positive earnings momentum/Earnings ESP, which can lift sentiment ahead of future quarters if investors expect SPOT to beat estimates. Looking for Stocks with Positive Earnings Momentum? Check Out These 2 Computer and Technology Names
• Positive Sentiment: Coverage framing the recent pullback as a buying opportunity (e.g., The Motley Fool) encourages value/momentum buyers after the year-to-date decline, supporting short-term demand. Is the Spotify Stock Dip a Buying Opportunity?
• Positive Sentiment: Product/engagement news — Spotify adding free Peloton workout classes for subscribers — is a user-growth/engagement positive that may help retention and ARPU over time. Spotify surprises subscribers with a major new free addition
• Neutral Sentiment: Zacks features on using Earnings ESP to find stocks that could top estimates are informational — they raise awareness but are not specific catalysts unless SPOT is explicitly flagged to beat. How to Boost Your Portfolio with Top Computer and Technology Stocks Set to Beat Earnings
• Neutral Sentiment: Comparisons between CRM and SPOT on value metrics are useful for investors weighing options but don’t directly move SPOT unless leading funds rotate between the names. CRM vs. SPOT: Which Stock Is the Better Value Option?
• Negative Sentiment: Analyses highlighting recent share-price weakness and a short‑term negative momentum narrative remind investors that SPOT has underperformed in recent weeks/months, which can keep selling pressure for momentum-sensitive investors. Evaluating Spotify Technology (NYSE:SPOT) After Recent Share Price Weakness And A Popular Undervaluation Narrative
• Negative Sentiment: A recent piece notes that last week’s earnings announcement disappointed some investors despite assertions about earnings quality — such mixed reception can create short-term volatility. Shareholders Can Be Confident That Spotify Technology’s (NYSE:SPOT) Earnings Are High Quality

Spotify Technology 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.