Spotify Technology $SPOT Stake Lowered by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lessened its holdings in shares of Spotify Technology (NYSE:SPOT) by 22.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 111,749 shares of the company’s stock after selling 31,905 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Spotify Technology were worth $54,587,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. acquired a new position in Spotify Technology during the 2nd quarter valued at $27,000. Palladiem LLC acquired a new stake in shares of Spotify Technology in the 1st quarter valued at $34,000. Fairscale Capital LLC raised its stake in shares of Spotify Technology by 35.2% in the third quarter. Fairscale Capital LLC now owns 73 shares of the company’s stock valued at $36,000 after acquiring an additional 19 shares during the last quarter. Tsfg LLC increased its stake in shares of Spotify Technology by 39.7% in the second quarter. Tsfg LLC now owns 81 shares of the company’s stock valued at $37,000 after buying an additional 23 shares in the last quarter. Finally, Blume Capital Management Inc. grew its stake in shares of Spotify Technology by 2,000.0% during the third quarter. Blume Capital Management Inc. now owns 84 shares of the company’s stock valued at $41,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SPOT. Phillip Securities downgraded Spotify Technology from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, October 26th. Stonex Financial cut Spotify Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 14th. Piper Sandler reissued a “neutral” rating and issued a $580.00 price objective (up from $540.00) on shares of Spotify Technology in a research report on Friday, October 23rd. Citizens Jmp reaffirmed a “market outperform” rating and set a $625.00 target price on shares of Spotify Technology in a report on Friday, October 23rd. Finally, Oppenheimer increased their price objective on Spotify Technology from $550.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Twenty-three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Spotify Technology has a consensus rating of “Moderate Buy” and a consensus price target of $620.07.

Spotify Technology Stock Performance

Spotify Technology stock opened at $611.79 on Friday. The stock has a market capitalization of $125.96 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 1.86 and a beta of 1.49. The stock’s 50 day moving average price is $542.95 and its two-hundred day moving average price is $502.95. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $654.68.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Thursday, October 22nd. The company reported $2.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.37). Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the prior year, the business earned $3.28 earnings per share. Spotify Technology’s revenue for the quarter was up 16.3% on a year-over-year basis. On average, equities research analysts forecast that Spotify Technology will post 13.60 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gustav Söderström sold 20,913 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $544.19, for a total transaction of $11,380,645.47. Following the completion of the transaction, the chief executive officer owned 20,025 shares in the company, valued at approximately $10,897,404.75. This represents a 51.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 62,733 shares of company stock worth $34,998,490 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Spotify Technology News Roundup

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

Spotify Technology Company Profile

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.