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Spotify Co-founder Daniel Ek Cashes Out More Spotify Stock, Shifts Focus to Tech and Climate Startups

Daniel Ek, the co-founder of Spotify Technology SA has sold 650,000 company shares for $179 million. Spotify’s stock has risen by 267% since late 2022. Ek still holds a 7% stake in the company and has a $4.4 billion net worth. Ek's move aligns with broader trends of tech billionaires reducing their stakes.

Weekly Report: what happened at OND last week (0422-0426)?

Spotify Stock Sheds All Gains After Q1 Earnings, But Analysts Are Impressed With the Performance

Spotify reported fiscal first-quarter 2024 revenue of $3.95 billion, up 20% year-on-year. Spotify is the largest pure-play audio streaming service. J.P. Morgan maintained Spotify with an Overweight and raised the price target from $320 to $365.

Music Giant Spotify's Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump

Spotify reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to €3.64 billion. Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million. The company missed its guidance by 3 million.

Weekly Report: what happened at OND last week (0415-0419)?

Weekly Report: what happened at OND last week (0408-0412)?

Spotify's Q1 Outlook: Analyst Anticipates Surge in Subscriber Base and Revenue Per User

Keybanc analyst Justin Patterson maintained Spotify Technology SA (NYSE:SPOT) with an Overweight rating and raised the price target from $300 to $350. Spotify will report its first-quarter fiscal 2024 results before the market opens on April 23. Spotify stock gained 130% in the last 12 months.

Weekly Report: what happened at OND last week (0401-0405)?