Spotify Technology (NYSE:SPOT) CEO Alex Norstrom Sells 5,436 Shares of Stock

Spotify Technology (NYSE:SPOT) CEO Alex Norstrom sold 5,436 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 67,582 shares of the company’s stock, valued at approximately $32,497,480.52. This trade represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Spotify Technology Stock Performance

Shares of NYSE:SPOT opened at $485.78 on Thursday. The business’s 50-day simple moving average is $469.36 and its 200 day simple moving average is $496.11. The company has a market cap of $100.01 billion, a P/E ratio of 38.71, a PEG ratio of 1.21 and a beta of 1.56. Spotify Technology has a one year low of $405.00 and a one year high of $748.30.

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 during the quarter, compared to the consensus estimate 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 for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $1.07 earnings per share. Analysts predict that Spotify Technology will post 14.62 earnings per share for the current year.

Institutional Trading of Spotify Technology

Several institutional investors have recently added to or reduced their stakes in SPOT. Principal Financial Group Inc. lifted its holdings in Spotify Technology by 12.9% during the 4th quarter. Principal Financial Group Inc. now owns 645,196 shares of the company’s stock worth $374,672,000 after buying an additional 73,722 shares during the last quarter. City Holding Co. increased its holdings in shares of Spotify Technology by 2,515.9% in the 4th quarter. City Holding Co. now owns 5,598 shares of the company’s stock valued at $3,251,000 after acquiring an additional 5,384 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of Spotify Technology by 37.6% in the 4th quarter. Robeco Schweiz AG now owns 18,544 shares of the company’s stock valued at $10,769,000 after acquiring an additional 5,071 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. acquired a new stake in shares of Spotify Technology during the 4th quarter valued at approximately $1,162,000. Finally, Robinhood Asset Management LLC bought a new position in Spotify Technology during the fourth quarter worth $8,233,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SPOT has been the topic of several analyst reports. Rosenblatt Securities lifted their price target on shares of Spotify Technology from $500.00 to $534.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. The Goldman Sachs Group decreased their price objective on shares of Spotify Technology from $670.00 to $600.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Daiwa Securities Group began coverage on Spotify Technology in a research report on Thursday, March 26th. They set an “outperform” rating and a $535.00 target price on the stock. Pivotal Research cut their price target on Spotify Technology from $420.00 to $400.00 and set a “hold” rating on the stock in a research note on Wednesday, April 29th. Finally, Morgan Stanley increased their price target on Spotify Technology from $590.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Two investment 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’s stock. Based on data from MarketBeat.com, Spotify Technology has a consensus rating of “Moderate Buy” and an average target price of $641.83.

More Spotify Technology News

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

• Positive Sentiment: Spotify updated its song-mixing feature with new customization tools, which could improve user engagement and strengthen the platform’s appeal. Spotify updates its song-mixing feature with new customization tools
• Positive Sentiment: Recent articles highlighted Spotify as a potentially attractive value or buy idea versus peers, reflecting continued bullish analyst interest in Spotify Technology (SPOT). XYZ vs. SPOT: Which Stock Is the Better Value Option?
• Neutral Sentiment: Two company executives sold shares on July 6, but the filings say the sales were made to cover tax withholding tied to vested equity awards, which typically limits the negative signal. SEC Form 4 filing for Gustav Soderstrom
• Neutral Sentiment: Another piece framed Spotify as having gained while the market dipped, suggesting relative strength in recent trading, but it was largely a recap rather than a new catalyst. Spotify (SPOT) Gains As Market Dips: What You Should Know
• Negative Sentiment: Spotify pushed back against prediction markets Kalshi and Polymarket after finding artificial streaming activity linked to betting on its music charts, raising concerns about platform integrity and reputational risk. Prediction Markets Face Spotify Pushback After $3 Million Kalshi Bet

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.