OPTIMAS CAPITAL Ltd Has $1.49 Million Stock Position in Spotify Technology $SPOT

OPTIMAS CAPITAL Ltd decreased its stake in Spotify Technology (NYSE:SPOT) by 47.8% in the fourth quarter, HoldingsChannel reports. The firm owned 2,560 shares of the company’s stock after selling 2,340 shares during the period. Spotify Technology accounts for 1.6% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 15th biggest position. OPTIMAS CAPITAL Ltd’s holdings in Spotify Technology were worth $1,487,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KERR FINANCIAL PLANNING Corp acquired a new stake in Spotify Technology during the 3rd quarter worth about $26,000. Newbridge Financial Services Group Inc. acquired a new stake in Spotify Technology during the 4th quarter worth about $35,000. JPL Wealth Management LLC acquired a new stake in Spotify Technology during the 3rd quarter worth about $35,000. Kozak & Associates Inc. boosted its position in Spotify Technology by 1,700.0% during the 4th quarter. Kozak & Associates Inc. now owns 72 shares of the company’s stock worth $39,000 after acquiring an additional 68 shares during the period. Finally, Eastern Bank boosted its position in Spotify Technology by 110.5% during the 4th quarter. Eastern Bank now owns 80 shares of the company’s stock worth $46,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 84.09% of the company’s stock.

More Spotify Technology News

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

• Positive Sentiment: Spotify is expanding its strategy in Asia, with a report that it is targeting Korea using AI-driven hyper-personalization. That suggests continued investment in product innovation and international growth, which investors may view favorably. Spotify targets Korea with AI hyper-personalization
• Positive Sentiment: Several reports highlighted strong underlying fundamentals after Spotify’s latest earnings, including premium subscriber growth, improved free cash flow, and rising operating income. Those results continue to support the stock’s longer-term bull case. Spotify Stock Will Trade at This Price In a Year
• Neutral Sentiment: Analyst sentiment remains supportive overall, with Spotify carrying a “Moderate Buy” consensus rating. However, some firms recently trimmed price targets, indicating expectations are still high and valuation remains a point of debate. Spotify Technology (NYSE:SPOT) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Negative Sentiment: CEO Gustav Soderstrom sold about $10.3 million of Spotify stock, continuing a recent pattern of insider selling. While insider sales do not always signal trouble, they can weigh on sentiment if investors worry management sees less upside near current levels. Spotify Technology (NYSE:SPOT) CEO Sells $10,344,001.16 in Stock

Spotify Technology Price Performance

Shares of Spotify Technology stock opened at $492.50 on Friday. The firm has a market cap of $101.40 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 1.19 and a beta of 1.56. Spotify Technology has a 52-week low of $405.00 and a 52-week high of $785.00. The stock has a 50-day simple moving average of $480.53 and a 200-day simple moving average of $515.21.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $4.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.63. The business 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 firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. As a group, equities research analysts predict that Spotify Technology will post 14.72 earnings per share for the current year.

Insider Buying and Selling at Spotify Technology

In other news, Director Thomas O. Staggs sold 5,477 shares of Spotify Technology stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $526.00, for a total transaction of $2,880,902.00. Following the completion of the sale, the director directly owned 3,619 shares in the company, valued at $1,903,594. The trade was a 60.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alex Norstrom sold 5,436 shares of Spotify Technology stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total value of $2,606,616.36. Following the sale, the chief executive officer owned 69,989 shares of the company’s stock, valued at approximately $33,560,425.39. This represents a 7.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 111,442 shares of company stock worth $54,647,508 over the last quarter. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SPOT shares. The Goldman Sachs Group decreased their price objective on Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company lifted their target price on shares of Spotify Technology from $580.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Barclays boosted their price target on shares of Spotify Technology from $500.00 to $565.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Weiss Ratings upgraded shares of Spotify Technology from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 4th. Finally, Wall Street Zen raised Spotify Technology from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $655.92.

About Spotify Technology

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.