Catalyst Capital Advisors LLC Takes Position in Spotify Technology $SPOT

Catalyst Capital Advisors LLC acquired a new stake in shares of Spotify Technology (NYSE:SPOT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,160 shares of the company’s stock, valued at approximately $562,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. KERR FINANCIAL PLANNING Corp bought a new position in shares of Spotify Technology in the 3rd quarter worth about $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Spotify Technology in the first quarter worth $32,000. Kemnay Advisory Services Inc. bought a new position in Spotify Technology during the 4th quarter valued at about $32,000. Whipplewood Advisors LLC grew its position in Spotify Technology by 423.1% in the 1st quarter. Whipplewood Advisors LLC now owns 68 shares of the company’s stock worth $33,000 after purchasing an additional 55 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Spotify Technology in the fourth quarter worth $35,000. 84.09% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Spotify Technology

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

• Positive Sentiment: Spotify unveiled a new AI assistant that lets users find songs, build playlists, and explore podcasts using natural language, which could improve engagement and support premium user growth. Spotify’s new AI assistant lets you find songs, create playlists and explore podcasts using natural language
• Positive Sentiment: Jefferies reiterated a Buy rating and a $600 price target ahead of earnings, signaling continued confidence in Spotify’s long-term growth and AI-related product roadmap. Spotify seen delivering steady Q2 results as investors await AI remixing updates
• Neutral Sentiment: Spotify was highlighted in an investor letter as having robust results, suggesting institutional investors still see the company as a strong operator despite recent market noise. Market Overlooked Spotify Technology S.A. (SPOT) Despite Robust Results
• Neutral Sentiment: Spotify partnered with Back Market for a back-to-school promotion, expanding brand visibility but with limited direct financial impact. Back Market Kicks Off Back-to-School Season with Survey Revealing How Parents Are Redefining the Smart Tech Purchase – And Debuting New Partnerships with Duolingo and Spotify
• Negative Sentiment: Zacks said Spotify’s growth story remains intact, but warned that a rich valuation, high royalty costs, and intensifying competition make the risk/reward less attractive. Spotify’s Growth Story Is Intact, but Faces Valuation Threat
• Negative Sentiment: Spotify also faced criticism after Lorde slammed the company over sloppy AI-generated song descriptions, adding a reputational headwind around its AI rollout. Lorde slams Spotify over sloppy AI-generated song descriptions

Analyst Upgrades and Downgrades

Several research firms have recently commented on SPOT. JPMorgan Chase & Co. upped their price objective on Spotify Technology from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Cantor Fitzgerald increased their price objective on shares of Spotify Technology from $430.00 to $520.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Spotify Technology from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Benchmark dropped their price target on Spotify Technology from $760.00 to $695.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Finally, Citizens Jmp boosted their price objective on Spotify Technology from $600.00 to $625.00 and gave the stock a “market outperform” rating in a research note on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Spotify Technology currently has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Insider Activity

In other news, CEO Alex Norstrom sold 5,436 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $480.86, for a total value of $2,613,954.96. Following the completion of the sale, the chief executive officer owned 67,582 shares of the company’s stock, valued at $32,497,480.52. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Christopher P. Marshall sold 2,650 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $519.86, for a total value of $1,377,629.00. Following the completion of the sale, the director directly owned 4,039 shares of the company’s stock, valued at approximately $2,099,714.54. This represents a 39.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,442 shares of company stock worth $54,757,553 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $478.86 on Friday. The firm’s 50 day simple moving average is $476.38 and its 200-day simple moving average is $491.73. Spotify Technology has a one year low of $405.00 and a one year high of $748.30. The firm has a market cap of $98.59 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 1.18 and a beta of 1.56.

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, beating the consensus estimate of $3.41 by $0.63. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.23 billion. Spotify Technology had a net margin of 15.56% and a return on equity of 35.73%. Spotify Technology’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. Equities research analysts predict that Spotify Technology will post 14.5 EPS for the current fiscal year.

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.