Rep. Bruce Westerman Sells Off Shares of Spotify Technology S.A. (NYSE:SPOT)

Representative Bruce Westerman (R-Arkansas) recently sold shares of Spotify Technology S.A. (NYSE:SPOT). In a filing disclosed on May 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Spotify Technology stock on April 21st. The trade occurred in the Representative’s “FISHER IRA” account.

Representative Bruce Westerman also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of UniCredit (OTCMKTS:UNCRY) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of CSX (NASDAQ:CSX) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Siemens Aktiengesellschaft (OTCMKTS:SIEGY) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of GSK (NYSE:GSK) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Charles Schwab (NYSE:SCHW) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of The Goldman Sachs Group (NYSE:GS) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Eli Lilly and Company (NYSE:LLY) on 4/21/2025.
• Sold $15,001 – $50,000 in shares of NVIDIA (NASDAQ:NVDA) on 4/21/2025.
• Sold $1,001 – $15,000 in shares of Chevron (NYSE:CVX) on 4/21/2025.

Spotify Technology Stock Performance

NYSE:SPOT opened at $619.69 on Wednesday. The stock’s 50-day simple moving average is $577.70 and its 200 day simple moving average is $528.25. The company has a market cap of $126.85 billion, a P/E ratio of 104.15 and a beta of 1.72. Spotify Technology S.A. has a 52-week low of $286.21 and a 52-week high of $663.55.

Spotify Technology (NYSE:SPOT) last released its earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($1.16). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. Spotify Technology’s revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. As a group, equities analysts predict that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in shares of Spotify Technology by 512.5% during the first quarter. Cornerstone Planning Group LLC now owns 49 shares of the company’s stock worth $29,000 after buying an additional 41 shares in the last quarter. Tsfg LLC bought a new stake in shares of Spotify Technology in the first quarter worth $28,000. North Star Investment Management Corp. grew its stake in shares of Spotify Technology by 52.8% in the first quarter. North Star Investment Management Corp. now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new stake in shares of Spotify Technology in the fourth quarter worth $26,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Spotify Technology in the fourth quarter worth $27,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lifted their target price on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. Benchmark lifted their price target on Spotify Technology from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. KeyCorp reduced their price target on Spotify Technology from $675.00 to $625.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Cantor Fitzgerald reduced their price target on Spotify Technology from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Macquarie lifted their price target on Spotify Technology from $600.00 to $665.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.48.

About Representative Westerman

Bruce Westerman (Republican Party) is a member of the U.S. House, representing Arkansas’ 4th Congressional District. He assumed office on January 3, 2015. His current term ends on January 3, 2027.

Westerman (Republican Party) is running for re-election to the U.S. House to represent Arkansas’ 4th Congressional District. He declared candidacy for the 2026 election.

Westerman earned his BSBAGE in biological and agricultural engineering from the University of Arkansas in 1990 and his MF in forestry from Yale University in 2001. His professional experience includes working as a plant engineer for Riceland Foods and an engineer/forester for Mid-South Engineering Company.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.