Rokos Capital Management 13F: Adds $21M to SPOT Stake

Rokos Capital Management significantly increased its stake in Spotify Technology S.A. (NYSE: SPOT), adding 46,555 shares according to its latest 13F filing with the SEC. This move, as of the reporting period, brings its total holdings to 90,446 shares, valued at approximately $43.6 million. The increase represents a 106% boost from its previous position.

What Changed in Rokos Capital Management's Spotify Position

Rokos Capital Management's decision to increase its Spotify holdings by 46,555 shares doubled its stake from 43,891 shares to 90,446 shares. The value of the new position is about $43.6 million, reflecting a significant vote of confidence in the streaming giant.

Other Institutional Activity in Spotify

Among other institutional investors, BlackRock, Inc. reduced its Spotify holdings by 222,507 shares, ending with 11,377,853 shares worth approximately $5.5 billion. Morgan Stanley, however, added 1,779,548 shares, bringing its total to 8,380,266 shares valued at about $4.1 billion. Baillie Gifford & Co trimmed its stake by 112,901 shares to hold 8,218,203 shares, valued at $3.99 billion. State Street Corp increased its position slightly by 16,804 shares to 4,729,053 shares, worth about $2.29 billion. Wellington Management Group showed significant interest, adding 2,420,870 shares to reach 3,319,838 shares, valued at $1.61 billion.

Spotify Technology S.A. Stock Down 12.4%

Shares of Spotify (NYSE: SPOT) traded near $482. The company has a market cap of $99.1 billion, with a P/E ratio of 32.46 and a forward P/E of 26.27. Spotify's beta is 1.553, indicating higher volatility compared to the market. The stock's 52-week range is between $405 and $785, with a 50-day moving average of $480.40 and a 200-day moving average of $560.53. Spotify maintains a current ratio of 2.06 and a quick ratio of 1.508, with a debt-to-equity ratio of 5.943.

Recent Earnings

In its latest earnings report, Spotify posted revenues of $17.53 billion, with a revenue growth of 8.2%. The company achieved a net margin of 15.4% and a return on equity of 37.99%. Spotify's earnings per share stood at $14.85. The next earnings announcement is scheduled for July 28, 2026.

Insider Buying and Selling at Spotify Technology S.A.

On June 2, 2026, Co-Chief Executive Officer Gustav Soderstrom sold 20,833 shares under a planned transaction at an average price of $496.52. On the same day, Co-Chief Executive Officer Alex Norstrom sold 5,436 shares at an average price of $498.27, also under a planned transaction. Both executives also bought shares at different prices, with Soderstrom purchasing 20,833 shares at $151.25 and Norstrom acquiring 5,436 shares at the same price.

Analysts Set New Price Targets

On May 22, 2026, JP Morgan maintained its 'buy' rating for Spotify with a price target of $650. Wells Fargo, Citizens, Barclays, and Morgan Stanley also maintained 'buy' ratings with targets of $600, $625, $565, and $610, respectively. Cantor Fitzgerald, on May 26, 2026, maintained a 'hold' rating with a target of $520. The consensus among 39 analysts is a 'buy' rating, with a target mean price of $607.24.

About Spotify Technology S.A.

Spotify Technology S.A. is a global leader in audio streaming services, headquartered in Stockholm, Sweden. Founded in 2006, the company operates through two main segments: Premium and Ad-Supported. The Premium segment offers subscribers access to a vast library of music and podcasts, including exclusive content and high-definition music. The Ad-Supported segment provides free access to music and podcasts with advertisements. Spotify, led by CEO Alex Norström, employs over 7,000 people worldwide.

Bottom Line

Rokos Capital Management's doubling of its Spotify stake underscores its confidence in the company's growth prospects. Investors closely watch these 13F filings to gauge institutional sentiment, though it's important to remember these reports are backward-looking snapshots. As Spotify continues to expand its offerings and maintain a strong market presence, it remains a key player in the streaming industry.