Spotify Technology $SPOT Shares Sold by Midwest Trust Co

Midwest Trust Co trimmed its stake in shares of Spotify Technology (NYSE:SPOT) by 21.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,792 shares of the company’s stock after selling 2,656 shares during the period. Midwest Trust Co’s holdings in Spotify Technology were worth $4,748,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPOT. Quadcap Wealth Management LLC raised its position in shares of Spotify Technology by 5.7% during the 3rd quarter. Quadcap Wealth Management LLC now owns 295 shares of the company’s stock worth $206,000 after purchasing an additional 16 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in Spotify Technology by 2.9% in the 4th quarter. Sagespring Wealth Partners LLC now owns 636 shares of the company’s stock worth $370,000 after buying an additional 18 shares during the last quarter. Objectivity Squared LLC boosted its holdings in Spotify Technology by 0.8% in the 4th quarter. Objectivity Squared LLC now owns 2,582 shares of the company’s stock worth $1,499,000 after buying an additional 20 shares during the last quarter. GAMMA Investing LLC increased its stake in Spotify Technology by 1.4% during the 4th quarter. GAMMA Investing LLC now owns 1,667 shares of the company’s stock worth $968,000 after buying an additional 23 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Spotify Technology by 5.8% during the 4th quarter. Greenleaf Trust now owns 455 shares of the company’s stock worth $264,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Analyst Upgrades and Downgrades

SPOT has been the subject of a number of recent research reports. Morgan Stanley increased their target price on shares of Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Citizens Jmp boosted their price target on shares of Spotify Technology from $600.00 to $625.00 and gave the company a “market outperform” rating in a research report on Friday, May 22nd. Canaccord Genuity Group dropped their price objective on shares of Spotify Technology from $750.00 to $720.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Spotify Technology from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Finally, Barclays raised their price objective on shares of Spotify Technology from $500.00 to $565.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $638.58.

Spotify Technology Stock Up 0.1%

Shares of Spotify Technology stock opened at $480.46 on Monday. The firm has a market cap of $98.92 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56. Spotify Technology has a 52 week low of $405.00 and a 52 week high of $748.30. The business’s fifty day simple moving average is $471.10 and its 200-day simple moving average is $494.73.

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

Insider Activity at Spotify Technology

In other news, CEO Alex Norstrom sold 5,436 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $480.86, for a total value of $2,613,954.96. Following the sale, the chief executive officer directly owned 67,582 shares of the company’s stock, valued at approximately $32,497,480.52. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal 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. Also, CEO Gustav Soderstrom sold 20,833 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $430.72, for a total transaction of $8,973,189.76. Following the completion of the transaction, the chief executive officer owned 20,492 shares in the company, valued at approximately $8,826,314.24. This represents a 50.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 111,442 shares of company stock valued at $54,757,553 over the last quarter. 0.40% of the stock is owned by insiders.

Key Stories Impacting Spotify Technology

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

• Positive Sentiment: UBS expects Spotify to report accelerating Q2 revenue growth of about 15.6% on a constant-currency basis, with results likely in line with management guidance, reinforcing confidence in the company’s near-term fundamentals. Spotify on track for double-digit growth, UBS says ahead of Q2
• Positive Sentiment: UBS maintained a buy rating on Spotify Technology (SPOT), signaling continued analyst support despite a lower price target. UBS lowers Spotify price target to $690
• Neutral Sentiment: Several analysts also adjusted price targets this week, including Rosenblatt and Wells Fargo, but the ratings stayed mostly neutral-to-bullish, suggesting expectations have shifted more than the underlying thesis. Spotify analyst price target changes
• Neutral Sentiment: Recent insider share sales by executives, including the CEO and co-CEO, drew attention, but the filings indicate the transactions were tied to tax withholding or pre-arranged trading plans, which softens the negative signal. Spotify CEO sells shares
• Negative Sentiment: Some market commentary highlighted insider selling and valuation concerns, which could pressure sentiment if investors decide Spotify’s growth is already priced in. Spotify stock could be 35% undervalued despite fraud stream removals

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.