1,248 Spotify Technology $SPOT Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC lessened its holdings in shares of Spotify Technology (NYSE:SPOT) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 39,178 shares of the company’s stock after selling 1,248 shares during the period. Trillium Asset Management LLC’s holdings in Spotify Technology were worth $19,096,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new stake in shares of Spotify Technology during the second quarter worth about $27,000. Palladiem LLC acquired a new stake in shares of Spotify Technology in the 1st quarter worth about $34,000. Fairscale Capital LLC lifted its position in Spotify Technology by 35.2% in the 3rd quarter. Fairscale Capital LLC now owns 73 shares of the company’s stock valued at $36,000 after acquiring an additional 19 shares in the last quarter. Tsfg LLC lifted its position in Spotify Technology by 39.7% in the 2nd quarter. Tsfg LLC now owns 81 shares of the company’s stock valued at $37,000 after acquiring an additional 23 shares in the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in Spotify Technology by 142.9% during the 3rd quarter. Elevation Wealth Partners LLC now owns 85 shares of the company’s stock valued at $41,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Recent Spotify Technology Headlines

These are some of the SPOT headlines 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

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. Argus reissued a “buy” rating and set a $600.00 price objective on shares of Spotify Technology in a report on Thursday, August 13th. UBS Group dropped their target price on Spotify Technology from $690.00 to $675.00 and set a “buy” rating on the stock in a report on Monday, October 5th. KeyCorp cut their target price on Spotify Technology from $680.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 1st. TD Cowen reiterated a “hold” rating and set a $525.00 price target on shares of Spotify Technology in a report on Friday, October 23rd. Finally, Barclays increased their price target on Spotify Technology from $565.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Twenty-three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $620.07.

Insider Activity at Spotify Technology

In other news, CEO Gustav Söderström sold 20,913 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $544.19, for a total value of $11,380,645.47. Following the transaction, the chief executive officer owned 20,025 shares in the company, valued at $10,897,404.75. The trade was a 51.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 62,733 shares of company stock worth $34,998,490. 0.40% of the stock is owned by company insiders.

Spotify Technology Trading Up 2.2%

Shares of SPOT traded up $13.28 during trading hours on Friday, reaching $611.79. 968,237 shares of the stock traded hands, compared to its average volume of 1,931,504. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $654.68. The company has a market cap of $125.96 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.86 and a beta of 1.49. The stock has a fifty day simple moving average of $542.95 and a 200 day simple moving average of $502.95.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings data 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). The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $5.64 billion. Spotify Technology had a return on equity of 35.64% and a net margin of 15.74%. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.28 earnings per share. Analysts predict that Spotify Technology will post 13.60 earnings per share for the current fiscal year.

Spotify Technology 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.