Spotify Technology S.A. (SPOT) Stock Price & Analysis
Spotify Technology S.A. (SPOT) closed at USD 627.66 on Wednesday, November 4, 2026, up 4.59% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 600.09; the Nov 4, 2026 session ranged USD 606.45–632.49 on volume of 2,814,620 shares. Market capitalization is $129.06B, with a 52-week range of USD 405–668.5 (NYQ). Source: Nexqual, retrieved November 5, 2026 at 09:25 UTC.
Also available as compact Markdown for AI agents: nexqual.com/SPOT.md
Key facts (SPOT)
- 7 of 80 tracked superinvestors hold SPOT (13F, Q2 2026 (1 investor on Q3 2026, filed early)): 1 new, 1 added, 3 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 14 Form 4 filings, $97.5M; 4 not under a Rule 10b5-1 plan ($24.8M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.95 on a 1–5 scale) (41 analysts), mean target USD 646.61 (range 460.98–752.87).
- Total return with dividends: 1Y +1.2% vs S&P 500 +14.4%; 5Y +117.2% vs S&P 500 +75.0%.
- Latest earnings report: 2026-10-22 (next date not yet announced).
- Dividend: SPOT paid no cash dividend in the last five years.
- Short interest: 2.20% of float (as of 2026-10-15), 2.4 days to cover.
Superinvestors (SEC 13F-HR, Q2 2026) (SPOT)
7 of 80 tracked investors hold SPOT (1 investor on Q3 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Josh Tarasoff | Greenlea Lane Capital | 4.96% | $18.1M | New position | Q2 2026 |
| ValueAct Capital | 4.29% | $242M | Added +47.0% | Q2 2026 | |
| Chase Coleman | Tiger Global Management | 2.24% | $538M | Reduced -25.9% | Q2 2026 |
| William Von Mueffling | Cantillon Capital Management | 1.40% | $9.3M | Reduced -95.4% | Q2 2026 |
| Polen Capital | Polen Capital Management | 0.32% | $37.5M | Reduced -24.1% | Q2 2026 |
| Thomas Gayner | Markel Group | 0.10% | $12.6M | Unchanged | Q3 2026 |
| Robert Vinall | RV Capital GmbH | 0.06% | $230K | Unchanged | Q2 2026 |
Insider sales (SEC Form 4, open-market, last ~7 months) (SPOT)
10 of 14 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-12 | Soderstrom Gustav | Co-Chief Executive Officer | 20,910 | $11.1M | 51.2% | Yes (adopted June 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-14 | Soderstrom Gustav | Co-Chief Executive Officer | 20,913 | $11.4M | 51.1% | Yes (adopted June 12, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Jenkins Dustee | Chief Public Affairs Officer | 3,810 | $2.0M | 8.7% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-03 | Norstrom Alex | Co-Chief Executive Officer | 5,436 | $2.7M | 7.5% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-03 | Soderstrom Gustav | Co-Chief Executive Officer | 20,833 | $10.6M | 50.8% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-06 | Norstrom Alex | Co-Chief Executive Officer | 5,436 | $2.6M | 7.4% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-06 | Soderstrom Gustav | Co-Chief Executive Officer | 20,833 | $10.0M | 50.7% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Soderstrom Gustav | Co-Chief Executive Officer | 20,833 | $10.3M | 50.6% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-02 | Norstrom Alex | Co-Chief Executive Officer | 5,436 | $2.7M | 7.4% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26 | Marshall Christopher P | Director | 2,650 | $1.4M | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-26 | Staggs Thomas O | Director | 5,477 | $2.9M | 17% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-22 | Lorentzon Sven Hans Martin | Director | 35,380 | $18.6M | 0.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Soderstrom Gustav | Co-Chief Executive Officer | 20,833 | $9.0M | 50.4% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-05 | Norstrom Alex | Co-Chief Executive Officer | 5,436 | $2.4M | 7.3% | Yes (adopted December 11, 2025) | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (SPOT)
Consensus Buy (mean 1.95 on a 1–5 scale), 41 analysts; mean target USD 646.61 (low 460.98, high 752.87).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-23 | Morgan Stanley | Target raised | Overweight | $640 → $700 |
| 2026-10-23 | Oppenheimer | Target raised | Outperform | $550 → $650 |
| 2026-10-23 | Piper Sandler | Target raised | Neutral | $540 → $580 |
| 2026-10-23 | JP Morgan | Target raised | Overweight | $650 → $700 |
| 2026-10-23 | Evercore ISI Group | Target raised | Outperform | $700 → $750 |
| 2026-10-23 | Wells Fargo | Target raised | Overweight | $570 → $660 |
| 2026-10-23 | Barclays | Target raised | Overweight | $565 → $650 |
| 2026-10-23 | TD Cowen | Reiterated | Hold | $525 |
| 2026-10-23 | Citizens | Reiterated | Market Outperform | $625 |
| 2026-10-23 | Guggenheim | Target raised | Buy | $575 → $650 |
| 2026-10-23 | Rosenblatt | Target raised | Neutral | $527 → $576 |
| 2026-10-23 | Cantor Fitzgerald | Target raised | Neutral | $490 → $550 |
Total return (dividends reinvested) (SPOT)
| 1Y (from 2025-11-05) | 5Y (from 2021-11-01) | |
|---|---|---|
| Total return | +1.2% | +117.2% |
| S&P 500 (SPY) | +14.4% | +75.0% |
| Per year | +1.2% | +16.7% |
| Volatility (annualized) | 46.9% | 43.6% |
| Max drawdown | -36.3% (Nov 2025→Feb 2026) | -75.4% (Nov 2021→Oct 2022) |
Dividends (SPOT)
SPOT paid no cash dividend in the last five years.
Short interest (SPOT)
3,480,760 shares sold short, 2.20% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 4,522,956 shares (-23.0%). Days to cover: 2.4 (short shares ÷ average daily volume).
SPOT earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Sep 30, 2026 | $2.48 | $2.84 | Miss −12.7% | — |
| — | Quarter ended Jun 30, 2026 | $2.61 | $2.80 | Miss −6.8% | — |
| — | Quarter ended Mar 31, 2026 | $3.45 | $2.92 | Beat +18.2% | — |
| — | Quarter ended Dec 31, 2025 | $4.43 | $2.84 | Beat +56.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
SPOT recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 22, 2026 | 6-K | Current report (foreign issuer) · period ended Sep 30, 2026 |
| Oct 22, 2026 | 6-K | Current report (foreign issuer) · period ended Oct 22, 2026 |
| Sep 3, 2026 | 6-K | Current report (foreign issuer) · period ended Sep 3, 2026 |
| Aug 20, 2026 | 6-K | Current report (foreign issuer) · period ended Aug 20, 2026 |
| Aug 4, 2026 | 6-K | Current report (foreign issuer) · period ended Jun 30, 2026 |
| Aug 4, 2026 | 6-K | Current report (foreign issuer) · period ended Aug 4, 2026 |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
SPOT suppliers, customers and competitors (named in its 20-F)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | OpenAI | “On October 6, 2025, we announced a new partnership with OpenAI, extending our ubiquity strategy into emerging agentic AI.” |
| Partner | CEO of Candle Media | “In addition to his role on our board of directors, Mr. Staggs is the founder and co-CEO of Candle Media LLC and is a partner of Smash Capital Advisors LP.” |
| Competitor | Alphabet (Google) (GOOGL) | “Some of our competitors, including Apple, Alphabet, and Amazon, have developed, and are continuing to develop, devices for which their audio streaming services are preloaded or may also be set as the default providers, which puts us at a significant competitive disadvantage.” |
| Competitor | Amazon (AMZN) | “Some of our competitors, including Apple, Alphabet, and Amazon, have developed, and are continuing to develop, devices for which their audio streaming services are preloaded or may also be set as the default providers, which puts us at a significant competitive disadvantage.” |
| Competitor | Apple (AAPL) | “Some of our competitors, including Apple, Alphabet, and Amazon, have developed, and are continuing to develop, devices for which their audio streaming services are preloaded or may also be set as the default providers, which puts us at a significant competitive disadvantage.” |
| Competitor | Meta Platforms (META) | “We face robust and rapidly evolving competition in all aspects of our business, including from companies that allow users to share and discover content and/or that enable advertisers to use content platforms to reach customers, such as Apple, Alphabet, Amazon, Meta, and ByteDance.” |
| Competitor | ByteDance | “We face robust and rapidly evolving competition in all aspects of our business, including from companies that allow users to share and discover content and/or that enable advertisers to use content platforms to reach customers, such as Apple, Alphabet, Amazon, Meta, and ByteDance.” |
Quoted from the company's 20-F filed Feb 10, 2026.
Companies that name SPOT in their SEC reports
| Relationship to SPOT | Company | Filing | Sentence |
|---|---|---|---|
| competitor | LiveOne, Inc. (LVO) | 10-K Jun 29, 2026 | “Our competitors include (i) broadcast radio providers, including terrestrial radio providers such as CBS and satellite radio providers such as Sirius XM, (ii) interactive on-demand audio content and pre-recorded entertainment, such as Apple Music, Amazon Music, Spotify and Pandora that allow listeners to stream music or select the audio content that they stream or purchase, (iii) podcast providers, including Amazo…” |
| competitor | PodcastOne, Inc. (PODC) | 10-K Jun 29, 2026 | “We compete for the time and attention of our users across different forms of media, including traditional broadcast, satellite, and internet radio (iHeartRadio, LastFM, Pandora, and SiriusXM), other providers of on-demand audio streaming services (Spotify, Amazon Prime, Apple Music, Deezer, Google Play Music, Joox, Pandora, and SoundCloud), and other providers of in-home and mobile entertainment such as cable tele…” |
| partner | Reservoir Media, Inc. (RSVR) | 10-K May 28, 2026 | “In connection with the digital distribution of our music, we currently partner with a broad range of digital music services, such as Amazon, Apple, Deezer, Spotify, SoundCloud, Tencent Music Entertainment Group and YouTube; radio services, such as iHeart Radio, Pandora and SiriusXM; fitness platforms, such as Apple Fitness+, Equinox, and Peloton; and social media outlets, such as Facebook, Instagram, Snapchat and …” |
| competitor | CUMULUS MEDIA INC (CMLSQ) | 10-K Apr 10, 2026 | “•audio programming by internet content providers, internet radio stations such as Spotify and Pandora, cable systems, direct broadcast satellite systems and other digital audio broadcast formats;” |
| partner | dLocal Ltd (DLO) | 20-F Mar 18, 2026 | “To that end, as of December 31, 2025, over 760 global merchants, including brand names such as Shein, Didi, Payoneer, Temu, Google, Facebook, Rappi, Deel, Uber, SpaceX, Worldpay and Spotify, across multiple verticals including financial services, remittances, e-commerce, advertising, streaming, on-demand delivery, ride hailing, SaaS, travel, e-learning, gaming, and crypto, have turned to dLocal as a trusted partne…” |
| competitor | Townsquare Media, Inc. (TSQ) | 10-K Mar 16, 2026 | “Many competing audio media offerings, including Spotify, Pandora and SiriusXM, do not offer any local content in our markets.” |
| competitor | AUDDIA INC. (AUUD) | 10-K Mar 6, 2026 | “competitive responses from larger platforms with substantial scale and promotion tooling (e.g., Spotify and SoundCloud), and broader market” |
| competitor | ENTRAVISION COMMUNICATIONS CORP (EVC) | 10-K Mar 5, 2026 | “We also compete for the time of Latino consumers against streaming video services, such as Netflix, YouTube and ViX (which is owned and operated by TelevisaUnvision), digital audio platforms like Spotify and Pandora, and social media such as” |
| supplier | AKAMAI TECHNOLOGIES INC (AKAM) | 10-K Feb 20, 2026 | “Our customers include many of the world's leading corporations, such as adidas, Adobe, Aflac, Airbnb, Asus, Autodesk, Bank of Montreal, Carnival Corporation, Comcast, Commerzbank, Daiwa Institute of Research, eBay, Electronic Arts, Epic Games, Fidelity Investments, Honda, Japan Airlines, Liberty Mutual, Maersk Transportation & Logistics, Marriott, NBCUniversal, Panasonic, Panera Bread, Paramount Global, Philips, R…” |
| competitor | Roblox Corp (RBLX) | 10-K Feb 11, 2026 | “We compete for users and their engagement hours with global technology leaders such as Amazon, Apple, Meta Platforms, Google, Microsoft, and Tencent, global entertainment companies such as Comcast, Disney, Paramount Global, and Warner Bros Discovery, global gaming companies such as Activision Blizzard (now owned by Microsoft), Electronic Arts, Take-Two, Epic Games, Krafton, NetEase, and Valve, online content platf…” |
| competitor | SIRIUS XM HOLDINGS INC. (SIRI) | 10-K Feb 5, 2026 | “Streaming and on-demand services, including Amazon Prime, Apple Music, Spotify, TikTok and YouTube, compete with our SiriusXM and Pandora services.” |
| partner | Warner Music Group Corp. (WMG) | 10-K Nov 20, 2025 | “As a proactive measure, WMG and other major music rightsholders are collaborating with technology platforms, such as Spotify, to establish a responsible, artist-first framework for AI development.” |
SPOT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $3.28 | $3.54 | -7.5% | $5.23B | 19 |
| Next quarter (ends Mar 2027) | $3.50 | $3.61 | -3.1% | $5.24B | 10 |
| Current fiscal year (ends Dec 2026) | $11.86 | $12.91 | -8.2% | $19.51B | 29 |
| Next fiscal year (ends Dec 2027) | $15.24 | $15.73 | -3.1% | $22.42B | 28 |
SPOT options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 6, 2026 | 1 | 45.3% | ±2.7% |
| Nov 13, 2026 | 8 | 39.5% | ±5.0% |
| Nov 20, 2026 | 15 | 39.2% | ±6.6% |
| Nov 27, 2026 | 22 | 36.7% | ±7.3% |
| Dec 4, 2026 | 29 | 37.8% | ±8.7% |
| Dec 11, 2026 | 36 | 38.3% | ±9.8% |
| Dec 18, 2026 | 43 | 38.3% | ±10.6% |
| Jan 15, 2027 | 71 | 37.5% | ±13.3% |
30-day implied volatility 37.2% vs 47.9% realized over the last 30 trading days. Put/call ratio (volume) 0.29. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of November 5, 2026 at 09:25 UTC)
| Price | USD 627.66 |
|---|---|
| Change | ▲ 4.59% (up) |
| Previous Close | USD 600.09 |
| Open | USD 609.86 |
| Day Range | USD 606.45 – 632.49 |
| 52-Week Range | USD 405 – 668.5 |
| Volume | 2,814,620 shares |
| Market Cap | $129.06B |
| Exchange | NYQ |
Technical Analysis (SPOT)
Nexqual's technical model rates SPOT "BUY" based on 5 bullish and 3 bearish signals across 128 daily candles, as of November 5, 2026 at 09:25 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 71.91 (overbought) |
| vs SMA50 | Above (USD 534.54) |
| MACD | 22.17 (positive) |
Analyst Ratings (SPOT)
Wall Street analysts rate SPOT "Buy" based on 41 analysts, with a mean price target of USD 646.61 (range USD 460.98–752.87), per Nexqual as of November 5, 2026 at 09:25 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 41 |
| Mean Target | USD 646.61 |
| High Target | USD 752.87 |
| Low Target | USD 460.98 |
| Buy / Hold / Sell | 32 / 9 / 0 |
Earnings (SPOT)
| Next Earnings Date | 2026-10-22 |
|---|---|
| EPS Estimate | USD 3.28 |
| Revenue Estimate | $5.23B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 2.48 vs est 2.84 ▼ miss |
| 2026-06-30 | USD 2.61 vs est 2.8 ▼ miss |
| 2026-03-31 | USD 3.45 vs est 2.92 ▲ beat |
| 2025-12-31 | USD 4.43 vs est 2.84 ▲ beat |
Source: Nexqual, November 5, 2026 at 09:25 UTC.
Financials & Fundamentals (SPOT)
| Total Revenue | $18.81B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +16.30% |
| Gross Margin | +33.12% |
| Operating Margin | +13.52% |
| Profit Margin | +15.73% |
| ROE | +35.81% |
| Debt / Equity | 0.05 |
| Current Ratio | 2.13 |
| Total Cash | $7.08B |
| Total Debt | $452.00M |
Source: Nexqual, November 5, 2026 at 09:25 UTC.
Financial Health Score (SPOT)
Nexqual rates Spotify Technology S.A.'s overall financial health "Solid" across five dimensions, as of November 5, 2026 at 09:25 UTC.
| Growth | Solid — Revenue +10% YoY (annual) |
|---|---|
| Profitability | Solid — Gross margin 33%, operating 14% (last 12 months) |
| Balance Sheet | Strong — EUR 7.08B cash vs EUR 452M debt, net cash position |
| Cash Flow | Solid — Operating cash flow EUR 3.25B (TTM) |
| Efficiency | Strong — ROE 36%, ROA 11.8% |
Ownership (SPOT)
| Insider Ownership | +23.46% |
|---|---|
| Institutional Ownership | +69.21% |
| Shares Outstanding | 205.62M |
| Float | 157.05M |
| Short % of Float | +2.20% |
Source: Nexqual, November 5, 2026 at 09:25 UTC.
Leadership (SPOT)
Spotify Technology S.A. is led by Alex Norström, Co-CEO & Director, per Nexqual as of November 5, 2026 at 09:25 UTC.
| Co-CEO & Director | Alex Norström |
|---|---|
| Founder & Executive Chairman | Daniel G. Ek |
| Co-CEO & Director | Gustav Söderström |
| Co-Founder & Director | Sven Martin Lorentzon |
| Chief Financial Officer | Christian Luiga |
Major Backers & Investors (SPOT)
Notable institutional backers of Spotify Technology S.A. include Baillie Gifford, Morgan Stanley, Price (T.Rowe) Associates Inc, according to Nexqual as of November 5, 2026 at 09:25 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Baillie Gifford | 3.85% |
| Morgan Stanley | 3.6% |
| Price (T.Rowe) Associates Inc | 1.75% |
| Wellington Management | 1.51% |
| WCM Investment Management, LLC | 1.38% |
| Jennison Associates LLC | 1.36% |
| Fisher Asset Management, LLC | 1.3% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 5.29% |
| State Street | 2.25% |
| Vanguard Group | 2.12% |
Source: Nexqual, November 5, 2026 at 09:25 UTC.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| PINS | Pinterest, Inc. | USD 21.22 | ▲ 4.22% |
| NBIS | Nebius Group N.V. | USD 141.52 | ▼ 6.67% |
| BIDU | Baidu, Inc. | USD 80.43 | ▲ 4.5% |
| RDDT | Reddit, Inc. | USD 101.89 | ▲ 5.97% |
| TME | Tencent Music Entertainment Gro | USD 9.48 | ▲ 4.87% |
| META | Meta Platforms, Inc. | USD 630 | ▲ 1.44% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: November 5, 2026 at 09:25 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt