Rosenblatt Securities Cuts Spotify Technology (NYSE:SPOT) Price Target to $527.00

Spotify Technology (NYSE:SPOT) had its price objective reduced by Rosenblatt Securities from $531.00 to $527.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

SPOT has been the topic of several other reports. UBS Group decreased their price target on shares of Spotify Technology from $735.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, July 10th. Morgan Stanley upped their price objective on Spotify Technology from $590.00 to $610.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Canaccord Genuity Group decreased their price objective on Spotify Technology from $750.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 29th. Wells Fargo & Company lowered their target price on Spotify Technology from $600.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Pivotal Research dropped their target price on Spotify Technology from $420.00 to $400.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $630.00.

Spotify Technology Stock Up 3.1%

Shares of NYSE:SPOT opened at $489.90 on Wednesday. The firm has a market cap of $100.86 billion, a P/E ratio of 30.50, a P/E/G ratio of 1.16 and a beta of 1.58. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $748.30. The company’s 50-day moving average price is $483.03 and its two-hundred day moving average price is $485.12.

Insider Transactions at Spotify Technology

In other Spotify Technology news, CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $502.10, for a total transaction of $2,729,415.60. Following the completion of the sale, the chief executive officer owned 66,773 shares in the company, valued at approximately $33,526,723.30. The trade was a 7.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sven Hans Martin Lorentzon sold 35,380 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $525.73, for a total value of $18,600,327.40. Following the completion of the transaction, the director directly owned 6,383 shares in the company, valued at approximately $3,355,734.59. This trade represents a 84.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 116,878 shares of company stock valued at $59,081,110. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spotify Technology

Hedge funds have recently added to or reduced their stakes in the stock. Sivia Capital Partners LLC acquired a new position in shares of Spotify Technology during the 2nd quarter worth about $312,000. Jump Financial LLC boosted its stake in Spotify Technology by 5.2% during the 2nd quarter. Jump Financial LLC now owns 1,132 shares of the company’s stock worth $869,000 after acquiring an additional 56 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in Spotify Technology during the 2nd quarter worth approximately $178,000. NewEdge Advisors LLC grew its holdings in Spotify Technology by 36.9% during the second quarter. NewEdge Advisors LLC now owns 12,650 shares of the company’s stock valued at $9,707,000 after purchasing an additional 3,412 shares during the period. Finally, Glenview Trust co acquired a new position in Spotify Technology during the second quarter valued at approximately $298,000. Institutional investors and hedge funds own 84.09% of the company’s stock.

Key Spotify Technology News

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

• Positive Sentiment: Spotify surpassed 300 million Premium subscribers and reported 777 million monthly active users, up 12% year over year. Revenue increased 14% to approximately €4.78 billion, while net income reached €545 million, a significant improvement from the prior-year loss. Spotify now has over 300 million subscribers
• Positive Sentiment: Management forecast third-quarter revenue of roughly €5.0 billion and operating income of €670 million. Record margins, subscriber gains and stronger cash flow reinforce the long-term profitability argument. Spotify Q2 strengthens the long-term story
• Positive Sentiment: Wall Street remains broadly constructive. Guggenheim assigned a Buy rating with a $565 target, while Cantor Fitzgerald raised its price objective to $530, supporting the view that SPOT has further appreciation potential.
• Neutral Sentiment: Spotify is expanding AI features, including personalized podcasts in Germany that can use calendar and email information with user permission, as well as tools for fan-made covers and remixes. These initiatives could improve engagement and monetization but may increase costs and raise privacy concerns. Spotify plans AI podcasts for Germany
• Negative Sentiment: Despite beating headline revenue and earnings estimates, adjusted second-quarter earnings reportedly came in below consensus because higher marketing, cloud and AI expenses offset operational gains. Third-quarter profit guidance also fell short of investor expectations. Spotify Q2 earnings miss
• Negative Sentiment: Third-quarter guidance for 788 million monthly active users implies a marked slowdown in user growth, particularly in North America and Europe. Investors appear to be demanding faster growth and stronger near-term monetization, explaining the initial post-earnings pressure despite the quarterly beat.
• Negative Sentiment: Co-CEO Gustav Soderstrom sold 20,833 shares and CEO Alex Norstrom sold 5,436 shares to cover tax withholding on vested equity awards. Because the transactions were tax-related, their negative signaling value is limited, but the insider selling remains a near-term overhang. Spotify co-CEO stock sale

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.