Spotify Technology (NYSE:SPOT) CEO Gustav Soderstrom Sells 20,833 Shares

Spotify Technology (NYSE:SPOT) CEO Gustav Soderstrom sold 20,833 shares of Spotify Technology stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $478.45, for a total transaction of $9,967,548.85. Following the completion of the transaction, the chief executive officer directly owned 20,259 shares of the company’s stock, valued at $9,692,918.55. This trade represents a 50.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 Tuesday, June 2nd, Gustav Soderstrom sold 20,833 shares of Spotify Technology stock. The stock was sold at an average price of $496.52, for a total transaction of $10,344,001.16.
• On Tuesday, May 5th, Gustav Soderstrom sold 20,833 shares of Spotify Technology stock. The stock was sold at an average price of $430.72, for a total transaction of $8,973,189.76.

Spotify Technology Stock Down 1.7%

Shares of NYSE SPOT opened at $485.78 on Thursday. The firm’s 50-day moving average price is $469.36 and its two-hundred day moving average price is $496.11. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $748.30. The stock has a market capitalization of $100.01 billion, a P/E ratio of 38.71, a P/E/G ratio of 1.21 and a beta of 1.56.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, April 28th. The company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.41 by $0.63. The company had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a return on equity of 35.73% and a net margin of 15.56%.The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, equities research analysts expect that Spotify Technology will post 14.62 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on SPOT. Canaccord Genuity Group dropped their target price on Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Daiwa Securities Group assumed coverage on shares of Spotify Technology in a report on Thursday, March 26th. They set an “outperform” rating and a $535.00 price target for the company. Rosenblatt Securities upped their price target on shares of Spotify Technology from $500.00 to $534.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. UBS Group dropped their price objective on shares of Spotify Technology from $760.00 to $735.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Finally, The Goldman Sachs Group cut their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average price target of $641.83.

Institutional Trading of Spotify Technology

Hedge funds have recently added to or reduced their stakes in the business. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Spotify Technology during the third quarter valued at about $26,000. Portus Wealth Advisors LLC acquired a new position in Spotify Technology during the 1st quarter valued at about $32,000. Kemnay Advisory Services Inc. bought a new stake in shares of Spotify Technology during the 4th quarter worth about $32,000. Whipplewood Advisors LLC raised its position in shares of Spotify Technology by 423.1% during the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock worth $33,000 after buying an additional 55 shares in the last quarter. Finally, Palladiem LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth approximately $34,000. Institutional investors own 84.09% of the company’s stock.

Key Spotify Technology News

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

• Positive Sentiment: Spotify updated its song-mixing feature with new customization tools, which could improve user engagement and strengthen the platform’s appeal. Spotify updates its song-mixing feature with new customization tools
• Positive Sentiment: Recent articles highlighted Spotify as a potentially attractive value or buy idea versus peers, reflecting continued bullish analyst interest in Spotify Technology (SPOT). XYZ vs. SPOT: Which Stock Is the Better Value Option?
• Neutral Sentiment: Two company executives sold shares on July 6, but the filings say the sales were made to cover tax withholding tied to vested equity awards, which typically limits the negative signal. SEC Form 4 filing for Gustav Soderstrom
• Neutral Sentiment: Another piece framed Spotify as having gained while the market dipped, suggesting relative strength in recent trading, but it was largely a recap rather than a new catalyst. Spotify (SPOT) Gains As Market Dips: What You Should Know
• Negative Sentiment: Spotify pushed back against prediction markets Kalshi and Polymarket after finding artificial streaming activity linked to betting on its music charts, raising concerns about platform integrity and reputational risk. Prediction Markets Face Spotify Pushback After $3 Million Kalshi Bet

Spotify Technology Company 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.