Spotify Technology (NYSE:SPOT) Stock Acquired Rep. Bruce Westerman

Representative Bruce Westerman (R-Arkansas) recently bought shares of Spotify Technology S.A. (NYSE:SPOT). In a filing disclosed on April 16th, the Representative disclosed that they had bought between $1,001 and $15,000 in Spotify Technology stock on March 20th. The trade occurred in the Representative’s “FISHER IRA” account.

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

• Purchased $1,001 – $15,000 in shares of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTCMKTS:LVMUY) on 4/2/2025.
• Purchased $1,001 – $15,000 in shares of Sony Group (NYSE:SONY) on 3/24/2025.
• Purchased $1,001 – $15,000 in shares of Mitsubishi UFJ Financial Group (NYSE:MUFG) on 3/21/2025.
• Purchased $1,001 – $15,000 in shares of BP (NYSE:BP) on 3/21/2025.
• Sold $1,001 – $15,000 in shares of Procter & Gamble (NYSE:PG) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of Medtronic (NYSE:MDT) on 3/20/2025.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of Visa (NYSE:V) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 3/20/2025.
• Sold $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 3/20/2025.

Spotify Technology Price Performance

SPOT opened at $574.85 on Friday. Spotify Technology S.A. has a 1-year low of $267.76 and a 1-year high of $652.63. The company has a market capitalization of $117.68 billion, a price-to-earnings ratio of 96.61 and a beta of 1.75. The business has a 50 day moving average price of $576.70 and a two-hundred day moving average price of $497.49.

Analysts Set New Price Targets

SPOT has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Spotify Technology from $550.00 to $695.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. China Renaissance assumed coverage on shares of Spotify Technology in a research note on Wednesday, March 26th. They issued a “buy” rating and a $740.00 price objective on the stock. Guggenheim reissued a “buy” rating and set a $675.00 target price on shares of Spotify Technology in a research note on Monday, February 24th. KeyCorp decreased their price target on shares of Spotify Technology from $675.00 to $625.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, Redburn Atlantic started coverage on Spotify Technology in a research report on Tuesday, March 11th. They set a “neutral” rating and a $545.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $564.45.

Hedge Funds Weigh In On Spotify Technology

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Spotify Technology by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 224,209 shares of the company’s stock worth $82,628,000 after purchasing an additional 14,426 shares during the last quarter. M&T Bank Corp increased its position in Spotify Technology by 5.5% during the third quarter. M&T Bank Corp now owns 26,991 shares of the company’s stock worth $9,947,000 after buying an additional 1,395 shares during the last quarter. Virtu Financial LLC bought a new position in Spotify Technology during the third quarter valued at about $1,782,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Spotify Technology in the third quarter worth about $1,477,000. Finally, Franklin Resources Inc. boosted its stake in shares of Spotify Technology by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 641,720 shares of the company’s stock worth $239,041,000 after acquiring an additional 16,511 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

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.

Spotify Technology Company Profile

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.