Spotify Technology $SPOT Stock Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in Spotify Technology (NYSE:SPOT) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,493,012 shares of the company’s stock after selling 181,665 shares during the period. Fisher Asset Management LLC owned about 1.21% of Spotify Technology worth $1,215,045,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in shares of Spotify Technology by 18.4% during the third quarter. Russell Investments Group Ltd. now owns 337,226 shares of the company’s stock worth $164,435,000 after buying an additional 52,516 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its holdings in shares of Spotify Technology by 42.1% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 368 shares of the company’s stock worth $179,000 after acquiring an additional 109 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Spotify Technology by 156.5% in the 3rd quarter. Fifth Third Bancorp now owns 8,391 shares of the company’s stock worth $4,090,000 after acquiring an additional 5,120 shares in the last quarter. Bingham Private Wealth LLC acquired a new position in shares of Spotify Technology in the 3rd quarter worth approximately $208,000. Finally, Ritholtz Wealth Management grew its position in Spotify Technology by 0.8% during the 3rd quarter. Ritholtz Wealth Management now owns 5,019 shares of the company’s stock worth $2,446,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 84.09% of the company’s stock.

Spotify Technology News Roundup

Here’s some of the latest news about SPOT:

• Positive Sentiment: Spotify launched audiobooks in India, including Hindi and regional-language titles, with a plan priced at ?199 per month for 15 hours of listening. The move broadens its offerings and could help attract subscribers and deepen engagement in a large market. Article
• Positive Sentiment: A Baron Capital fund disclosed initiating a position in Spotify, a modest endorsement from an institutional investor, though the report does not indicate the size or timing of the holding. Article
• Neutral Sentiment: Spotify added nine AI DJ voices, including an Indian-accented option, and gave Premium users a way to reduce or turn off spoken commentary. These updates may support personalization and engagement, but no subscriber or revenue impact was reported. Article

Insider Activity at Spotify Technology

In related news, CEO Gustav Söderström sold 20,910 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $530.13, for a total value of $11,085,018.30. Following the sale, the chief executive officer directly owned 19,908 shares of the company’s stock, valued at approximately $10,553,828.04. The trade was a 51.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPOT. Wall Street Zen cut Spotify Technology from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. TD Cowen reissued a “hold” rating and issued a $525.00 price objective on shares of Spotify Technology in a research note on Friday, October 23rd. Benchmark decreased their target price on Spotify Technology from $695.00 to $650.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Rosenblatt Securities restated a “neutral” rating and set a $527.00 target price on shares of Spotify Technology in a report on Tuesday, October 20th. Finally, Barclays raised their target price on Spotify Technology from $565.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Twenty-three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.07.

Spotify Technology Stock Down 1.8%

SPOT stock opened at $598.29 on Friday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $668.49. The business’s fifty day moving average is $541.90 and its 200-day moving average is $502.45. The company has a market cap of $123.18 billion, a P/E ratio of 39.66, a price-to-earnings-growth ratio of 1.90 and a beta of 1.49.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $2.81 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.37). The firm had revenue of $5.63 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business earned $3.28 earnings per share. Research analysts anticipate that Spotify Technology will post 13.60 earnings per share for the current fiscal year.

About Spotify Technology

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.