Spotify Technology (NYSE:SPOT) CEO Alex Norstrom Sells 5,436 Shares
by Teresa Graham · The Cerbat GemSpotify Technology (NYSE:SPOT – Get Free Report) CEO Alex Norstrom sold 5,436 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $479.51, for a total transaction of $2,606,616.36. Following the completion of the sale, the chief executive officer directly owned 69,989 shares of the company’s stock, valued at $33,560,425.39. The trade was a 7.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Spotify Technology Stock Down 0.1%
Shares of NYSE SPOT traded down $0.49 during mid-day trading on Friday, hitting $488.48. 1,549,270 shares of the company were exchanged, compared to its average volume of 1,826,466. The stock has a 50 day simple moving average of $490.29 and a 200-day simple moving average of $575.75. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The firm has a market cap of $100.57 billion, a price-to-earnings ratio of 50.67, a price-to-earnings-growth ratio of 1.03 and a beta of 1.70.
Spotify Technology (NYSE:SPOT – Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $2.00. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company earned $1.88 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Spotify Technology
Several large investors have recently added to or reduced their stakes in SPOT. Rockefeller Capital Management L.P. boosted its stake in Spotify Technology by 34.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 87,319 shares of the company’s stock worth $50,707,000 after buying an additional 22,348 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Spotify Technology during the 4th quarter valued at about $35,000. World Investment Advisors lifted its holdings in shares of Spotify Technology by 59.3% during the 4th quarter. World Investment Advisors now owns 3,128 shares of the company’s stock worth $1,816,000 after acquiring an additional 1,165 shares during the period. Meadowbrook Advisors Group LLC acquired a new stake in shares of Spotify Technology in the fourth quarter worth approximately $388,000. Finally, Hsbc Holdings PLC boosted its position in shares of Spotify Technology by 16.6% in the fourth quarter. Hsbc Holdings PLC now owns 54,566 shares of the company’s stock worth $31,613,000 after acquiring an additional 7,759 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have issued reports on SPOT. Wells Fargo & Company cut their target price on shares of Spotify Technology from $750.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Moffett Nathanson began coverage on shares of Spotify Technology in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price target on the stock. Pivotal Research cut shares of Spotify Technology from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $875.00 to $420.00 in a research note on Wednesday, February 11th. Citigroup upgraded Spotify Technology from a “neutral” rating to a “buy” rating and set a $650.00 price objective for the company in a research report on Friday, January 30th. Finally, Barclays upped their target price on Spotify Technology from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $699.00.
Check Out Our Latest Analysis on Spotify Technology
Trending Headlines about Spotify Technology
Here are the key news stories impacting Spotify Technology this week:
- Positive Sentiment: Coverage framing Spotify as more than a “streaming platform” underscores the company’s strategic push into podcasts, advertising and broader audio/creator initiatives — a narrative that can support longer-term revenue diversification. Don’t call Spotify a ‘streaming platform’ anymore
- Neutral Sentiment: General market stories and stock-screen lists that mention growth stocks or discounted names could bring incremental interest to Spotify but are not direct catalysts. 3 Growth Stocks With Strong Insider Stakes
- Neutral Sentiment: Another market list piece highlighting potentially undervalued stocks may draw value-seeking flows but is not a direct company update. 3 Stocks Estimated To Be Trading At A Discount Of Up To 43.2%
- Neutral Sentiment: OpenAI’s surprise media acquisition (TBPN) is getting attention; it may incrementally change competition for premium talk-show/online audio formats but the direct impact on Spotify is uncertain. OpenAI Makes Surprise Media Acquisition Ahead of IPO. Why It Will Fail.
- Neutral Sentiment: User-experience pieces (e.g., “Spotify tanked my productivity…”) highlight consumer behavior nuances but are anecdotal and unlikely to move fundamentals alone. Spotify tanked my productivity, but this music app helped me regain focus
- Negative Sentiment: Insider sale — CEO Alex Norstrom sold 5,436 shares at an average $479.51 (≈$2.6M). Norstrom’s stake fell ~7.2%; markets often view insider selling as a near-term negative signal. Alex Norstrom Form 4
- Negative Sentiment: Large insider sale — CEO Gustav Soderstrom sold 20,833 shares at an average $473.52 (≈$9.9M), cutting his holding by ~50%. This sizable reduction is the clearest immediate negative catalyst in today’s filings and likely weighed on sentiment. Gustav Soderstrom Form 4
- Negative Sentiment: Momentum metrics for Spotify have reportedly deteriorated even as analysts remain bullish; declining technical/momentum scores can trigger short-term selling by momentum-driven funds. Spotify stock’s momentum score tanks even as Wall Street analysts stay bullish
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.