Spotify Technology Option Alert: Feb 28 $640 Puts Sweep (31) near the midpoint: 186 vs 1582 OI; Earnings 4/22 Before Open [est] 

Spotify Technology Option Alert: Feb 28 $640 Puts Sweep (31) near the midpoint: 186 @ $27.577 vs 1582 OI; Earnings 4/22 Before Open [est] Ref=$616.3

Spotify Technology (NYSE:SPOT) Stock

Spotify Technology

Spotify is the leading global music streaming service provider, with nearly 700 million monthly active users and over 250 million paying subscribers, with the latter comprising the firm's premium segment. most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.

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Tiger Global Management makes aggressive bets on high-growth tech companies and reduces stakes in insurance and healthcare amid regulatory uncertainties.

Meta Remains Tiger Global&#39;s Top Holding as Fund Makes Aggressive Tech Bets

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Spotify is set to launch a new premium subscription service &#34;Music Pro&#34; at $18 per month, targeting music enthusiasts with enhanced features.

Spotify&#39;s $18 &#39;Music Pro&#39; Subscription Focuses On Superfans, With Content From Taylor Swift, Kendrick Lamar: Report

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iShares Trust Dow Jones US Healthcare Sector Index Fund

Joseph M. Terranova picked Spotify Technology, which reported better-than-expected fiscal fourth-quarter 2024 financial sales.

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Shares of companies in the broader communication sector are trading lower amid overall market weakness on US consumer and economic concerns.

Tiger Global Management LLC is taking bold risks. Chase Coleman's hedge fund made <a href="https://www.benzinga.com/general/hedge-funds">aggressive fourth-quarter 2024 bets</a> on high-growth names while shedding some underperformers, signaling a clear preference for tech and digital dominance.
<h2 class="wp-block-heading">Big Buys: Betting On Disruption</h2>
Tiger Global&#8217;s latest 13F <a href="https://13f.info/13f/000091957425001475-tiger-global-management-llc-q4-2024#google_vignette">filing </a>shows that as of Dec. 31, 2024, it increased its stakes in several growth stocks, with Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) leading the charge—a 2.13% increase in its portfolio weighting.
The fund also jumped on Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) ahead of its much-anticipated public momentum, boosting its position by 1.11%. 
Cybersecurity leader Zscaler Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZS#NASDAQ">ZS</a>) and e-commerce giant PDD Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) also saw meaningful increases, reinforcing Tiger's focus on digital transformation.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43811538/5-top-tech-stocks-hedge-funds-have-been-bullish-on-in-q4-hint-its-not-nvidia">5 Top Tech Stocks Hedge Funds Have Been Bullish On In Q4 (Hint: It&#8217;s Not Nvidia)</a>
<h2 class="wp-block-heading">Major Exits: A Health Check On UnitedHealth</h2>
The biggest surprise? Tiger Global slashed its UnitedHealth Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) stake by 5.06%, moving away from the insurance titan amid regulatory uncertainties.
Also on the chopping block were Nu Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>), ZoomInfo Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZI#NASDAQ">ZI</a>) and Toast Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) &#8211; all seeing reductions, albeit on a smaller scale.
<h2 class="wp-block-heading">The Core Holdings: Meta Still Reigns Supreme</h2>
Despite the shake-ups, Tiger's core conviction remains clear: Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) still dominates its portfolio, making up 16.52% of its holdings. 
Other tech titans like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) and Apollo Global Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>) round out the top positions, showcasing a clear tilt toward AI, cloud computing, and digital media.
<h2 class="wp-block-heading">The Takeaway: Tiger's Tech-Forward Playbook</h2>
Tiger Global's fourth-quarter strategy signals a full-speed-ahead approach to tech, AI, and digital consumer trends while dialing back on legacy finance and healthcare.
With AI-driven companies and disruptive digital platforms leading the portfolio, Coleman&#8217;s fund continues to invest heavily in technology&#8217;s future &#8211; systematically removing exposure to declining sectors.
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Image created using artificial intelligence via Midjourney.

Meta Remains Tiger Global's Top Holding as Fund Makes Aggressive Tech Bets

Investors with a lot of money to spend have taken a bearish stance on Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SPOT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 19 uncommon options trades for Spotify Technology.
This isn't normal.
The overall sentiment of these big-money traders is split between 31% bullish and 36%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $91,825, and 16 are calls, for a total amount of $1,058,236.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $380.0 to $860.0 for Spotify Technology over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Spotify Technology's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Spotify Technology's whale activity within a strike price range from $380.0 to $860.0 in the last 30 days. 
<h3>Spotify Technology Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739985329_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$263.9</td>
<td>$262.0</td>
<td>$262.0</td>
<td>$400.00</td>
<td>$393.0K</td>
<td align="right">55</td>
<td align="right">0</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$42.3</td>
<td>$38.9</td>
<td>$41.55</td>
<td>$860.00</td>
<td>$82.8K</td>
<td align="right">2</td>
<td align="right">20</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$260.25</td>
<td>$256.9</td>
<td>$256.9</td>
<td>$380.00</td>
<td>$77.0K</td>
<td align="right">70</td>
<td align="right">0</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$134.2</td>
<td>$132.45</td>
<td>$132.45</td>
<td>$520.00</td>
<td>$66.2K</td>
<td align="right">228</td>
<td align="right">5</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/18/25</td>
<td>$56.9</td>
<td>$56.15</td>
<td>$56.15</td>
<td>$660.00</td>
<td>$56.1K</td>
<td align="right">95</td>
<td align="right">8</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify is the leading global music streaming service provider, with over 600 million monthly active users and 250 million paying subscribers, with the latter comprising the firm's premium segment. most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.
In light of the recent options history for Spotify Technology, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is Spotify Technology Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 632,163, with SPOT's price up by 1.5%, positioned at $640.0.</li>
<li>RSI indicators show the stock to be may be overbought.</li>
<li>Earnings announcement expected in 62 days.</li>
</ul>
<h3>Expert Opinions on Spotify Technology</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $668.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Canaccord Genuity has decided to maintain their Buy rating on Spotify Technology, which currently sits at a price target of $700. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $600. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $675. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Spotify Technology with a target price of $670. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Spotify Technology with a target price of $695. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Spotify Technology, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Unpacking the Latest Options Trading Trends in Spotify Technology

Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is set to launch a new premium subscription service called &#8220;Music Pro&#8221; at $18 per month, targeting music enthusiasts with enhanced features.
What Happened: The streaming giant has secured licensing agreements with Universal Music and Warner Music, enabling the inclusion of content from artists like Taylor Swift and Kendrick Lamar, according to sources cited <a href="https://www.ft.com/content/425cbc57-fa9f-4f51-84ee-1ba57c50a15e">by</a> the Financial Times.
However, a deal with Sony Music Entertainment, home to Beyoncé, remains pending, according to the report. 
The new tier will offer three key features: higher-quality audio streaming, priority access to concert tickets, and advanced functionality including a &#8220;DJ&#8221; option. This move aligns with the music industry&#8217;s broader strategy to monetize &#8220;superfans&#8221; who regularly invest in merchandise and live performances.
Spotify did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/25/02/43761150/bitcoin-ethereum-dogecoin-dip-as-investors-hunt-for-volatility-amid-dull-weekend-heres-why-this-analyst-thinks-blindly-longing-the-btc-range-lows-may-not-be-a-good-idea">Bitcoin, Ethereum, Dogecoin Dip As Investors Seek Volatility Over A Dull Weekend: Analyst Thinks &#8216;Blindly&#8217; Longing The BTC Range Lows May Not Be A Good Idea</a>
Why It Matters: Spotify CEO Daniel Ek recently signaled this strategic shift, stating the company is moving away from a &#8220;one size fits all&#8221; approach toward more specialized offerings as its user base expands. The platform will also integrate more professional music videos to compete with Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) owned YouTube and ByteDance&#8216;s TikTok.
Spotify&#8217;s expansion comes amid strong financial performance, with the company recently achieving its first full year of profitability following strategic cost-cutting measures. The stock has surged nearly 40% year-to-date, reaching a market capitalization of $130 billion, surpassing the combined value of the three major record labels.
Current <a href="https://www.benzinga.com/quote/SPOT/analyst-ratings">analyst consensus shows a price target</a> of $534.10 for SPOT, with recent ratings from Citigroup, Goldman Sachs, and Benchmark averaging $711.67, implying an 11.63% upside potential.
<figure class="wp-block-image aligncenter size-full is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/17035407/Screenshot-2025-02-17-at-2.23.23%E2%80%AFPM.png" alt="" class="wp-image-785049" style="width:670px;height:auto" /></figure>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Spotify's $18 'Music Pro' Subscription Focuses On Superfans, With Content From Taylor Swift, Kendrick Lamar: Report

<a href="https://www.sec.gov/Archives/edgar/data/1167483/000091957425001475/xslForm13F_X02/infotable.xml">https://www.sec.gov/Archives/edgar/data/1167483/000091957425001475/xslForm13F_X02/infotable.xml</a>

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Tiger Global Management's Latest 13F Filing Shows Increased Positions In Eli Lilly By 1.31M Shares, Reddit By 2.03M Shares, Coupang By 8.12M Shares, Sherwin-Williams By 1.00M Shares, Spotify By 1.26M Shares; Decreased Holdings In UnitedHealth By 438.8K Shares, Nu Holdings By 8.88M Shares, Uber Technologies By 2.60M Shares, Applied Materials By 895.2K Shares, Novo Nordisk By 1.27M Shares

Citigroup analyst Jason Bazinet maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Neutral and raises the price target from $540 to $720.

Price Target

Analyst Ratings

Citigroup Maintains Neutral on Spotify Technology, Raises Price Target to $720

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/02/12/final-trades-vertiv-holdings-spotify-and-the-iyh.html">Halftime Report Final Trade</a>s,&#8221; Joseph M. Terranova of Virtus Investment Partners picked Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
Spotify, on Feb. 4, reported better-than-expected fiscal fourth-quarter 2024 financial sales. 
The Stockholm-based company reported quarterly sales of $4.53 billion (4.24 billion euros), up by 16% year-on-year, which beat the analyst consensus estimate of $4.15 billion.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>.
Stephen Weiss of Short Hills Capital Partners said he is sticking with Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) as the stock got cheaper on Wednesday. &#8220;It's a good opportunity to <a href="https://in.benzinga.com/25/02/43661891/vertiv-q4-results-highlight-robust-data-center-demand-shares-down-on-q1-guidance">get in,&#8221; he added.</a>
Shares of Vertiv dipped around 10% on Wednesday following results for its fourth quarter. Net sales rose 26% year-over-year to $2.346 billion, beating the consensus of $2.151 billion. 
For 2025, Vertiv said it sees revenue of $9.125 billion – $9.275 billion vs. consensus of $9.148 billion and adjusted EPS of $3.50 – $3.60 vs. consensus of $3.56. For the first quarter, Vertiv expects revenue of $1.900 billion- $1.950 billion (vs. $1.904 billion estimate) and adjusted EPS of $0.57 – $0.63 <a href="https://www.benzinga.com/calendars/guidance">(vs. consensus of $0.64)</a>.
Shannon Saccocia of NB Private Wealth named iShares U.S. Healthcare ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYH#NYSE">IYH</a>) as her final trade.
Price Action:
<ul>
<li>Vertiv shares declined 9.7% to close at $111.24 on Wednesday.</li>
<li>iShares U.S. Healthcare ETF slipped 0.2% during Wednesday's session.</li>
<li>Spotify shares gained 2.8% to close at $640.59 on Wednesday.</li>
</ul>
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Image: Shutterstock

Spotify, Vertiv Holdings And More: CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: Vertiv, Spotify Technology, iShares U.S. Healthcare ETF

On a past <a href="https://www.youtube.com/watch?v=hCq5lKpkUaI">episode</a> of "The Joe Rogan Experience," Joe Rogan and his guest, <a href="https://www.benzinga.com/m-a/24/01/36788880/internet-media-buzzfeed-vice-face-further-downsizing-amid-financial-woes">VICE Media</a> co-founder Shane Smith, discussed <a href="https://www.benzinga.com/personal-finance/25/01/43351521/2025-is-the-year-the-wealth-disparity-gets-much-worse-viral-finance-influencer-explains-the-trump-economic-effect">wealth inequality</a>. Rogan brought up a widely shared but flawed statistic – that 80% of the world's wealth is inherited.
"That's how you make monsters," Rogan said, explaining that passing wealth down for generations creates a cycle where some people are born rich while others never get a fair shot. He also pointed out that inherited wealth doesn't guarantee financial responsibility, meaning some of the world's wealthiest individuals may not be the best stewards of their fortunes.
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Smith agreed, saying that most people never get the chance to <a href="https://www.benzinga.com/25/02/43505720/the-real-way-warren-buffett-got-rich-and-why-you-should-care">build real wealth</a>. He described it as never getting "a kick at the can," meaning many are stuck in the economic position they were born into. While society often highlights <a href="https://www.benzinga.com/startups/24/09/41030114/the-new-shark-tank-star-replacing-mark-cuban-once-made-a-220-million-blunder-that-grew-his-startup-i">rags-to-riches success stories</a>, Smith and Rogan argue that wealth is more often inherited than earned.
Though exact numbers vary, research supports the idea that inherited wealth plays a huge role in global inequality. According to intelligence firm Wealth-X, around 10.2% of billionaires inherited their entire fortune, while nearly 30% combined inheritance with their own efforts.
Trending: Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a>
2024 data from <a href="https://www.forbes.com/sites/monicahunter-hart/2024/03/31/worlds-youngest-billionaires-2024-john-collison-ben-francis-evan-spiegel/">Forbes </a>highlights that all billionaires under 30 inherited their wealth, showing how generational wealth transfer is becoming more common. Examples include the Del Vecchio siblings, who inherited shares in their family's luxury eyewear company Luxottica, and Livia Voigt, who became a billionaire at just 19 thanks to her family's company, WEG Industries.
Over the years, Rogan has accumulated a substantial fortune. As of early 2025, he has hundreds of millions of dollars, mostly from his massively successful and <a href="https://www.benzinga.com/news/24/10/41561452/trump-to-joe-rogan-biggest-mistake-was-trusting-bad-and-disloyal-people">influential podcast</a>. In 2020, he signed an exclusive licensing deal with Spotify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) worth an estimated $200 million, which he later renewed in 2024 <a href="https://www.benzinga.com/real-estate/24/11/42244420/more-freedom-why-joe-rogan-left-l-a-for-a-14-4-million-mansion-on-lake-austin">for around $250 million</a>, allowing his podcast to be available on multiple platforms. Beyond his podcast, Rogan continues to perform stand-up comedy and remains a significant figure in the UFC community.
See Also: Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a>
But wealth isn't just about money. <a href="https://www.benzinga.com/personal-finance/24/11/41987495/the-greatest-wealth-transfer-in-history-is-here-but-72-of-americans-say-theyre-not-ready-for-it">Inheriting wealth</a> also means gaining <a href="https://www.benzinga.com/cannabis-conference/networking-app">valuable connections</a>, status, and opportunities that keep the rich at the top while making it harder for others to catch up. Rogan and Smith said that this system creates a society where wealth stays concentrated among a few, making it more difficult for others to move up.
Despite this, Rogan still sees the United States as a <a href="https://www.benzinga.com/personal-finance/24/05/39069576/are-you-rich-heres-the-net-worth-you-need-to-be-poor-middle-class-and-wealthy">land of opportunity</a>. He said, "This really is the promised land. It really is, I mean, clearly not for everybody but also there's a possibility the opportunity awaits itself right here. It really is the greatest country the world has ever known."
Disclaimer: Some elements of this story were previously reported by Benzinga and have been updated.
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<ul>
<li>How do billionaires pay less in income tax than you?<a href="https://www.benzinga.com/money/tax-deferring-adv"> Tax deferring is their number one strategy</a>.</li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
</ul>

'That's How You Make Monsters,' Says Joe Rogan, Reacting To Claims That 80% Of The World's Wealth Is Inherited

A federal appeals court in San Francisco showed skepticism toward Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) efforts to overturn a jury verdict in favor <a href="https://www.benzinga.com/25/02/43453177/googles-fight-against-epic-gamess-antitrust-win-hits-roadblocks-judges-say-apple-case-doesnt-apply" target="_blank" rel="noreferrer noopener">of </a><a href="https://www.benzinga.com/25/02/43453177/googles-fight-against-epic-gamess-antitrust-win-hits-roadblocks-judges-say-apple-case-doesnt-apply" target="_blank" rel="noreferrer noopener">Fortine</a><a href="https://www.benzinga.com/25/02/43453177/googles-fight-against-epic-gamess-antitrust-win-hits-roadblocks-judges-say-apple-case-doesnt-apply" target="_blank" rel="noreferrer noopener">-maker</a><a href="https://www.benzinga.com/25/02/43453177/googles-fight-against-epic-gamess-antitrust-win-hits-roadblocks-judges-say-apple-case-doesnt-apply" target="_blank" rel="noreferrer noopener"> Epic Games</a>.
Afederal judge decided that parts of&nbsp;Elon Musk's&nbsp;lawsuit against&nbsp;OpenAI&nbsp;will advance to trial. This legal battle centers on Musk's efforts to halt OpenAI's <a target="_blank" href="https://www.benzinga.com/25/02/43484737/chatgpt-maker-openais-future-hangs-in-the-balance-as-judge-says-musks-lawsuit-will-partially-proceed-to-trial" rel="noreferrer noopener">transition to&nbsp;a for-profit model</a>.
Earnings Results
Spotify Technology&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) reported fourth-quarter&nbsp;earnings of $1.88 per share, which missed the&nbsp;analyst consensus estimate of $2.06 and sales of $4.53 billion (4.24 billion euros), up by 16% year-on-year, which beat the analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43463926/spotify-q4-earnings-revenue-beat-higher-arpu-and-premium-growth-drive-profitability-issues-strong-q" rel="noreferrer noopener">consensus estimate of $4.15 billion</a>.
Take-Two Interactive Software, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) &nbsp;reported third-quarter revenue of $1.37 billion, missing analyst estimates of $1.39 billion and adjusted earnings of 72 cents per share, beating analyst <a target="_blank" href="https://www.benzinga.com/25/02/43548484/take-two-interactive-software-q3-earnings-revenue-miss-eps-beat-bookings-up" rel="noreferrer noopener">estimates of 57 cents per share</a>.
Palantir Technologies Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) reported&nbsp;fourth-quarter&nbsp;revenue of&nbsp;$827.52 million, beating the&nbsp;consensus estimate of&nbsp;$775.91 million. The company reported&nbsp;fourth-quarter&nbsp;adjusted earnings of 14 cents per share, beating analyst estimates <a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43449486/palantir-q4-earnings-revenue-beat-eps-beat-us-revenue-up-52-customer-count-up-43-strong-guidance-th" rel="noreferrer noopener">of 11 cents per share</a>.
Smartphones
Apple Inc.&#8216;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Watch Series 10&nbsp;users are reportedly voicing their dissatisfaction over the limited selection of watch faces available, <a target="_blank" href="https://www.benzinga.com/media/25/02/43425734/apple-watch-faces-are-a-mess-series-10s-biggest-feature-is-limited-to-just-four-faces-frustrating-users" rel="noreferrer noopener">despite the device's advanced features</a>.
Apple&nbsp;is reportedly gearing up to unveil five new products in March, including the iPhone SE 4, M4 <a target="_blank" href="https://www.benzinga.com/tech/25/02/43428732/apples-spring-2025-lineup-iphone-se-4-m4-macbook-air-and-more-expected-soon" rel="noreferrer noopener">MacBook Air, and a new iPad Air</a>.
Apple&nbsp;has increased the monthly subscription cost for its&nbsp;AppleCare+&nbsp;service <a target="_blank" href="https://www.benzinga.com/media/25/02/43485288/apple-raises-monthly-applecare-prices-for-all-iphones-and-you-can-no-longer-buy-the-warranty-upfront-in-stores" rel="noreferrer noopener">across all iPhone models in the U.S</a>.&nbsp;
Samsung Electronics Co.&#8216;s&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) Galaxy S25 Ultra&nbsp;is available at a significantly lower price than<a target="_blank" href="https://www.benzinga.com/tech/25/02/43429568/samsung-offers-galaxy-s25-ultra-at-a-discount-of-up-to-1020-making-it-3x-cheaper-than-apples-iphone-16-pro-heres-how-you-can-get-it-for-almost-free" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/25/02/43429568/samsung-offers-galaxy-s25-ultra-at-a-discount-of-up-to-1020-making-it-3x-cheaper-than-apples-iphone-16-pro-heres-how-you-can-get-it-for-almost-free" rel="noreferrer noopener">Apple Inc.&#8217;s</a><a target="_blank" href="https://www.benzinga.com/tech/25/02/43429568/samsung-offers-galaxy-s25-ultra-at-a-discount-of-up-to-1020-making-it-3x-cheaper-than-apples-iphone-16-pro-heres-how-you-can-get-it-for-almost-free" rel="noreferrer noopener">&nbsp;</a><a target="_blank" href="https://www.benzinga.com/tech/25/02/43429568/samsung-offers-galaxy-s25-ultra-at-a-discount-of-up-to-1020-making-it-3x-cheaper-than-apples-iphone-16-pro-heres-how-you-can-get-it-for-almost-free" rel="noreferrer noopener">iPhone 16 Pro</a>.&nbsp;
Technology &amp; Online Retail
LinkedIn, owned by&nbsp;Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>),&nbsp;Indeed&nbsp;and&nbsp;Greenhouse&nbsp;have all introduced new AI-powered tools designed to help job seekers gauge their chances of <a target="_blank" href="https://www.benzinga.com/25/02/43425534/linkedin-and-indeed-are-finally-holding-employers-accountable-new-ai-tools-will-show-job-seekers-their-chances-of-getting-a-response" rel="noreferrer noopener">receiving responses from potential employers</a>.
Nvidia Corp.&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GeForce RTX 5090&nbsp;and&nbsp;5080&nbsp;graphics&nbsp;cards have sold out&nbsp;almost immediately after their release. However, gaming enthusiasts can still acquire these powerful GPUs through <a target="_blank" href="https://www.benzinga.com/25/02/43428596/rtx-5090-and-5080-are-sold-outbut-you-can-still-get-one-with-these-high-end-prebuilt-gaming-pcs" rel="noreferrer noopener">high-end prebuilt gaming PCs</a>.
Microsoft has quietly removed a workaround that allowed users to install&nbsp;<a target="_blank" href="https://www.benzinga.com/25/02/43455003/windows-11-disaster-microsoft-quietly-removes-workaround-for-unsupported-pcs-leaving-millions-stranded" rel="noreferrer noopener">Windows 11</a><a target="_blank" href="https://www.benzinga.com/25/02/43455003/windows-11-disaster-microsoft-quietly-removes-workaround-for-unsupported-pcs-leaving-millions-stranded" rel="noreferrer noopener">&nbsp;on unsupported PCs</a>.
Microsoft has recruited top talent from&nbsp;Google DeepMind. This recruitment is part of an effort led by&nbsp;Mustafa Suleyman&nbsp;to <a target="_blank" href="https://www.benzinga.com/tech/25/02/43518599/microsoft-poaches-top-deepmind-ai-talent-behind-googles-podcasting-feature-mustafa-suleymans-zurich-ai-lab-expands" rel="noreferrer noopener">expand Microsoft's AI lab in Zurich</a>.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) decided not to comply with the European Union's AI Code of Practice.&nbsp;Joel Kaplan, the new head of global affairs at Meta, made this announcement, escalating the company's<a target="_blank" href="https://www.benzinga.com/25/02/43487588/metas-global-affairs-head-dismisses-eus-ai-regulations-reignites-regulatory-tensions-for-the-mark-zuckerberg-led-tech-giant" rel="noreferrer noopener"> ongoing disputes with European regulators</a>.
Alphabet CEO&nbsp;Sundar Pichai&nbsp;hinted at potential future monetization strategies for Gemini AI, <a target="_blank" href="https://www.benzinga.com/25/02/43488268/googles-gemini-ai-could-soon-include-adssundar-pichai-hints-at-future-monetization-beyond-subscriptions" rel="noreferrer noopener">including the introduction of ads</a>.
Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;is gearing up to introduce a&nbsp;major AI upgrade&nbsp;to its&nbsp;Alexa&nbsp;voice assistant with a press event <a target="_blank" href="https://www.benzinga.com/media/25/02/43517995/amazons-remarkable-alexa-is-coming-heres-what-to-expect-from-the-ai-overhaul-and-its-potential-10-monthly-fee" rel="noreferrer noopener">reportedly in New York on Feb. 26</a>.
Artificial Intelligence (AI)
OpenAI&nbsp;revealed a new feature for ChatGPT&nbsp;called "deep research," which autonomously plans and executes multi-step data searches. This feature allows users to input questions using text, images, <a target="_blank" href="https://www.benzinga.com/tech/25/02/43425315/openais-deep-research-promises-ai-powered-analysis-heres-what-it-can-and-cant-do" rel="noreferrer noopener">and files like PDFs or spreadsheets</a>.
OpenAI&nbsp;introduced a comprehensive rebranding initiative <a target="_blank" href="https://www.benzinga.com/tech/25/02/43485775/openais-big-rebrand-chatgpt-parent-wants-to-reflect-a-more-organic-future-with-new-logo-typeface" rel="noreferrer noopener">featuring a new logo and typeface</a>.
OpenAI is contemplating a shift in its open-source strategy as it faces&nbsp;mounting competition from&nbsp;<a target="_blank" href="https://www.benzinga.com/25/02/43426111/openai-rethinks-open-source-as-deepseek-gains-ground-sam-altman-hints-at-major-changes-in-ai-model-development" rel="noreferrer noopener">Chinese companies like&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/02/43426111/openai-rethinks-open-source-as-deepseek-gains-ground-sam-altman-hints-at-major-changes-in-ai-model-development" rel="noreferrer noopener">DeepSeek</a>.
Advanced Micro Devices Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO&nbsp;Lisa Su&nbsp;has addressed&nbsp;DeepSeek&#8217;s&nbsp;AI advancements and their potential <a target="_blank" href="https://www.benzinga.com/tech/25/02/43487668/amd-ceo-lisa-su-on-deepseeks-ai-disruption-training-and-inference-with-less-infrastructure-is-a-good-thingbut-gpus-not-asics-will-still-power-the-future-of-ai-chips" rel="noreferrer noopener">impact on the semiconductor market</a>.
Alphabet CEO&nbsp;Sundar Pichai&nbsp;recognized the progress made by China's&nbsp;DeepSeek&nbsp;but said that&nbsp;Google's Gemini&nbsp;remains ahead in <a target="_blank" href="https://www.benzinga.com/25/02/43487551/sundar-pichai-acknowledges-deepseeks-ai-advancementsbut-says-googles-gemini-still-leads-in-cost-performance-and-latency" rel="noreferrer noopener">efficiency, cost, and performance</a>.
Aravind Srinivas, CEO of&nbsp;Jeff Bezos-backed&nbsp;Perplexity AI, believes many startup founders fail because they chase market trends instead of working<a target="_blank" href="https://www.benzinga.com/tech/25/02/43452421/aravind-srinivas-ceo-of-jeff-bezos-backed-perplexity-reveals-why-most-startups-fail-the-thing-that-most-people-get-wrong" rel="noreferrer noopener"> on problems they truly care about</a>.
Palantir&nbsp;advised its clients to avoid using AI models <a target="_blank" href="https://www.benzinga.com/25/02/43453280/peter-thiels-palantir-sounds-alarm-on-chinas-deepseek-citing-national-security-threat-but-says-it-wont-drop-clients-who-use-it" rel="noreferrer noopener">from Chinese startup&nbsp;</a><a target="_blank" href="https://www.benzinga.com/25/02/43453280/peter-thiels-palantir-sounds-alarm-on-chinas-deepseek-citing-national-security-threat-but-says-it-wont-drop-clients-who-use-it" rel="noreferrer noopener">DeepSeek</a>.
Palantir chief technology officer&nbsp;Shyam Sankar&nbsp;warned that the U.S. is in an &#8220;AI arms race&#8221; with China, calling for&nbsp;urgent action&nbsp;to maintain dominance as the<a target="_blank" href="https://www.benzinga.com/tech/25/02/43453553/palantirs-shyam-sankar-us-is-at-war-with-china-in-ai-and-the-time-to-act-was-yesterday" rel="noreferrer noopener"> race for artificial intelligence escalates</a>.

Equities

Large Cap

AAPL

AMZN

NVDA

PLTR

SSNLF

TTWO

Consumer Tech News (Feb 3-Feb 7): Meta Plans Not To Comply With The EU AI Code Of Practice, Apple Raises AppleCare+ Service' Subscription Cost & More

These ten large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) shares rocketed 34.38% after the company reported strong fourth-quarter financial results. Several analysts <a href="https://www.benzinga.com//node/43543416" target="_blank" rel="noreferrer noopener">also lifted their price forecasts</a>.</li>
<li>Doximity, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCS#NYSE">DOCS</a>) shares escalated 34.06% after the company reported better-than-expected third-quarter results and <a href="https://www.benzinga.com//node/43544376" target="_blank" rel="noreferrer noopener">issued guidance above estimates</a>.</li>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock jumped 27.21% after announcing the full production of NVIDIA Blackwell rack-scale <a href="https://www.benzinga.com//node/43500503" target="_blank" rel="noreferrer noopener">solutions with NVIDIA HGX B200</a>.</li>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares rose 23.17%  after the company reported upbeat fiscal second-quarter results and <a href="https://www.benzinga.com//node/43566785" target="_blank" rel="noreferrer noopener">analysts raised the price forecast</a>.</li>
<li>Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) stock upped 21.36% after the company reported better-than-expected results and issued guidance <a href="https://www.benzinga.com//node/43546168" target="_blank" rel="noreferrer noopener">with its midpoint above estimates</a>. Several analysts raised the <a href="https://www.benzinga.com/quote/pins/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Cloudflare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NET#NYSE">NET</a>) shares rose 20.42% after reporting <a href="https://www.benzinga.com//node/43547316" target="_blank" rel="noreferrer noopener">fourth-quarter financial results</a>. Many analysts raised the <a href="https://www.benzinga.com/quote/net/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Tempus AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) stock increased 20.16% after TD Cowen analyst Dan Brennan reinstated a Buy rating and<a href="https://www.benzinga.com/quote/tem/analyst-ratings" target="_blank" rel="noreferrer noopener"> announced a $74 price forecast</a>.</li>
<li>Expedia Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXPE#NASDAQ">EXPE</a>) stock rose 18.38% after reporting better-than-<a href="https://www.benzinga.com//node/43547860" target="_blank" rel="noreferrer noopener">expected fourth-quarter results</a>. Several analysts raised the <a href="https://www.benzinga.com/quote/expe/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast on the stock</a>.</li>
<li>Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) stock grew 13.57% after the company reported upbeat quarterly results and <a href="https://www.benzinga.com//node/43506847" target="_blank" rel="noreferrer noopener">analysts raised their price forecast</a>.</li>
<li>Monolithic Power Systems, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MPWR#NASDAQ">MPWR</a>) stock upped 13% last week after the company reported better-than-expected <a href="https://www.benzinga.com//node/43544414" target="_blank" rel="noreferrer noopener">Q4 financial results</a> and issued a Q1 revenue outlook. Additionally, the company raised its quarterly dividend from $1.25 per share to $1.56 and announced a $500 million stock buyback program.</li>
</ol>
Photo via Shutterstock

Movers

AFRM

DOCS

EXPE

MPWR

SMCI

Palantir, Super Micro Computer And Spotify Are Among Top 10 Large Cap Gainers Last Week (Feb 3-Feb 7): Are The Others In Your Portfolio?

Goldman Sachs analyst Eric Sheridan maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $550 to $695.

Goldman Sachs Maintains Buy on Spotify Technology, Raises Price Target to $695

Warner Music Group Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>)&nbsp;stock fell in Thursday&#8217;s premarket session after reporting&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/g43524695/warner-music-group-corp-reports-results-for-fiscal-first-quarter-ended-december-31-2024" rel="noreferrer noopener">fiscal&nbsp;first-quarter 2025</a> results.
GAAP EPS of 45 cents beat the <a href="https://www.benzinga.com/calendars/earnings">analyst consensus estimate of 32 cents</a>. Revenue declined 5% year-on-year to $1.67 billion, beating the analyst consensus estimate of $1.65 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43495757/t-mobile-raises-294-billion-to-fund-stock-buybacks-dividends-and-debt-refinancing" rel="noreferrer noopener">T-Mobile Raises $2.94 Billion To Fund Stock Buybacks, Dividends, and Debt Refinancing</a>
Recorded Music revenue decreased by 7.0%&nbsp;Y/Y at $1.35&nbsp;billion in the quarter. Music Publishing revenue grew by 6.0% Y/Y to $323 million. Digital revenue declined 2% Y/Y to $1.08 billion.
Adjusted OIBDA decreased by 20% compared to the previous year, reaching $363 million, and the margin declined by 400 basis points to 21.8%, driven by Licensing Extension and Digital License Renewal.
Warner Music held $802 million in cash and equivalents as of Dec. 31, 2024. It generated $332 million in operating cash flow, up from $293 million in the prior year quarter.
CEO Robert Kyncl noted success with new stars, global superstars, longtime legends, and an irreplaceable catalog during the quarter. He also highlighted ramping up A&amp;R spending, acquiring valuable catalogs, and striking important agreements with streaming services.
CFO Bryan Castellani acknowledged that while temporary macro conditions pressurized the quarter, the company&#8217;s engine of business is substantial. He expressed confidence as the industry continues to evolve monetization models.
Warner Music Group acquired <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43522921/warner-music-group-acquires-controlling-stake-in-tempo-music" rel="noreferrer noopener">a controlling stake</a> in Tempo Music Investments, an investment platform for premium music rights, from Providence Equity Partners.&nbsp;Providence&nbsp;will remain a minority investor in Tempo and continue to work with Warner Music Group in an advisory capacity. WMG and&nbsp;Providence&nbsp;partnered to launch Tempo in 2019, combining&nbsp;Providence&#8217;s&nbsp;capital and investment expertise with Warner Music Group&#8217;s deep music industry experience, resources, and network to support, promote, and build value around artists and songwriters globally.
Warner Music Group also announced a new, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/n43523661/warner-music-group-and-spotify-announce-new-multi-year-agreement-to-fuel-growth-and-innovation" rel="noreferrer noopener">multi-year agreement</a> with Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) covering both Recorded Music and Music Publishing. The new deal will help deliver new fan experiences, a deeper music and video catalog, further paid subscription tiers, and differentiated content bundles, building on the companies&#8217; existing alignment around &#8216;artist-centric&#8217; royalty models.
Warner Music Group lost 12% in stock value in the last 12 months. At least four Wall Street firms cut their <a target="_blank" href="https://www.benzinga.com/quote/WMG/analyst-ratings" rel="noreferrer noopener">price targets on</a> the stock in January 2025.
Price Action: WMG stock is down 1% at $31.78 at last check Thursday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/25/02/43495476/uber-q4-earnings-revenue-beat-growth-in-rides-delivery-and-autonomous-tech-ceo-calls-it-strongest-quarter" target="_blank" rel="noreferrer noopener">Uber Q4 Earnings: Revenue Beat, Growth In Rides, Delivery And Autonomous Tech, CEO Calls It Strongest Quarter</a></li>
</ul>
Photo: Piotr Swat/Shutterstock.com

Earnings

Warner Music Sees Lower Profit Margins, Signs Multi-Year Spotify Deal

WMG and Spotify will work together to shape the future of audio-visual streaming and enhance the value of music. The new deal will help deliver new fan experiences, a deeper music and video catalog, further paid subscription tiers, and differentiated content bundles. The agreement also builds on the companies' existing alignment around 'artist centric' royalty models that reward and protect the power of artists to attract and engage audiences. Importantly, the new publishing agreement introduces a direct licensing model with Warner Chappell Music in several additional countries including the U.S., reinforcing songwriters' benefit in this evolving landscape.

Entertainment

Contracts

General

Spotify And Warner Music Group Announced A New, Multi-year Agreement, Which Covers Both Recorded Music And Music Publishing

Editor&#8217;s Note: This article has been updated to reflect that Jeff Ubben is no longer with ValueAct. The revised version correctly attributes the investment decisions to ValueAct rather than &#8220;Jeff Ubben's ValueAct.&#8221;
ValueAct Holdings, L.P. disclosed its third-quarter portfolio in a 13F filing with the U.S. Securities and Exchange Commission on Nov. 14.
What Happened: The activist hedge fund made significant adjustments, adding shares in Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>), and Live Nation Entertainment, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) while exiting its stake in Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
Since then, these investments have seen notable price changes. Here's a breakdown:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<th>Holdings</th>
<th>Stock Units</th>
<th>Share Price on Nov. 14 ($)</th>
<th>Price Today ($)</th>
<th>Percentage Change</th>
<th>Value on Nov. 14 ($)</th>
<th>Value as of Feb. 5 ($)</th>
<td>Gains/Losses ($)</td>
</tr>
<tr>
<td>Meta</td>
<td>211,500</td>
<td>577.16</td>
<td>710.31</td>
<td>23.06%</td>
<td>122.07 million</td>
<td>150.23 million</td>
<td>+28 million</td>
</tr>
<tr>
<td>Visa</td>
<td>373,600</td>
<td>308.25</td>
<td>348.22</td>
<td>12.96%</td>
<td>115.16 million</td>
<td>130.09 million</td>
<td>+15 million</td>
</tr>
<tr>
<td>Live Nation</td>
<td>1.01 million</td>
<td>129.19</td>
<td>148.44</td>
<td>14.90%</td>
<td>131.08 million</td>
<td>150.61 million</td>
<td>+20 million</td>
</tr>
<tr>
<td>Spotify (Exited Position)</td>
<td>676,553</td>
<td>477.50</td>
<td>617.89</td>
<td>29.40%</td>
<td>302.76 million</td>
<td>418.04 million</td>
<td>+115 million</td>
</tr>
</tbody>
</table>
</figure>
Since filing, Live Nation, Visa, and Meta have all experienced double-digit growth. Spotify recorded the biggest rise, though, at 29.40%, despite ValueAct&#8217;s exit.
See Also: <a href="https://www.benzinga.com/25/02/43494650/disney-q1-earnings-powered-by-moana-2-and-mufasa-theme-parks-loses-streaming-subscribers">Disney Q1 Earnings: Revenue And EPS Beat, Moana 2 and Mufasa Power Operating Income, 700K Drop In Streaming Subscribers</a>
Why It Matters: ValueAct, known for its activist investment approach, typically uses an event-driven strategy to influence corporate policy and enhance company value. CEO Mason Morfit leads the firm, which has built a reputation for a collaborative, constructivist style compared to more confrontational activist funds. A ValueAct <a href="https://www.benzinga.com/markets/equities/24/11/42006101/activist-hedge-fund-valueact-boosts-meta-stake-with-121m-bet-but-ceo-morfit-supports-mark-zuckerbergs-ai-vision-heres-what-investors-should-know">spokesperson confirmed to Benzinga</a> that the firm has built a $1 billion stake in Meta.
Founded by Jeff Ubben in 2000 in San Francisco, ValueAct Capital has a long track record of investing in technology and growth sectors. However, Ubben has since departed the firm, stating in a 2020 interview <a href="https://www.ft.com/content/eaa28471-e295-44a9-a138-dda047db6d1c">with</a> the Financial Times, "ValueAct needs to not be ‘Jeff Ubben's ValueAct' anymore."
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43494246/private-employment-rises-by-183000-beats-estimates-in-january-consumer-facing-industries-drove-hiring">Private Employment Rises By 183,000, Beats Estimates In January: &#8216;Consumer-Facing Industries Drove Hiring&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ValueAct's Bet On Meta, Visa, And Spotify Exit In Q3: Was It A Clever Move? (CORRECTED)

Deep-pocketed investors have adopted a bullish approach towards Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in SPOT usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 49 extraordinary options activities for Spotify Technology. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 36% leaning bullish and 36% bearish. Among these notable options, 5 are puts, totaling $173,940, and 44 are calls, amounting to $2,408,973.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $360.0 to $840.0 for Spotify Technology over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Spotify Technology options trades today is 249.69 with a total volume of 3,673.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Spotify Technology's big money trades within a strike price range of $360.0 to $840.0 over the last 30 days.
<h3>Spotify Technology Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738784730_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$130.4</td>
<td>$127.5</td>
<td>$127.5</td>
<td>$520.00</td>
<td>$191.2K</td>
<td align="right">226</td>
<td align="right">16</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$298.55</td>
<td>$292.2</td>
<td>$292.2</td>
<td>$390.00</td>
<td>$175.4K</td>
<td align="right">80</td>
<td align="right">6</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$22.9</td>
<td>$22.1</td>
<td>$22.1</td>
<td>$640.00</td>
<td>$97.2K</td>
<td align="right">107</td>
<td align="right">69</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$98.15</td>
<td>$94.45</td>
<td>$95.75</td>
<td>$540.00</td>
<td>$95.7K</td>
<td align="right">367</td>
<td align="right">10</td>
</tr>
<tr>
<td>SPOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$83.9</td>
<td>$80.8</td>
<td>$80.8</td>
<td>$550.00</td>
<td>$80.8K</td>
<td align="right">290</td>
<td align="right">192</td>
</tr>
</tbody>
</table>

<h3>About Spotify Technology</h3>
Spotify is the leading global music streaming service provider, with over 600 million monthly active users and 250 million paying subscribers, with the latter comprising the firm's premium segment. most of the firm's revenue and nearly all its gross profit come from the subscribers, who pay a monthly fee to access a very comprehensive music library that consists of most of the most popular songs ever recorded, including all from the major record labels. The firm also sells separate audiobook subscriptions and integrates podcasts within its standard music app. Podcast content is not exclusive and is typically free to access on other platforms. Ad-supported users can access a similar music catalog but cannot customize a similar on-demand experience.
<h3>Where Is Spotify Technology Standing Right Now?</h3>
<ul>
<li>With a trading volume of 3,086,054, the price of SPOT is down by -0.04%, reaching $621.54.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 76 days from now.</li>
</ul>
<h3>What Analysts Are Saying About Spotify Technology</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $644.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $520. 
&#x2A; An analyst from Rosenblatt downgraded its action to Neutral with a price target of $658. 
&#x2A; Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Spotify Technology, targeting a price of $700. 
&#x2A; Maintaining their stance, an analyst from Keybanc continues to hold a Overweight rating for Spotify Technology, targeting a price of $675. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Spotify Technology, targeting a price of $670. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Spotify Technology with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Spotify Technology's Options: A Look at What the Big Money is Thinking

<a href="https://www.benzinga.com/25/02/43475015/spotifys-strong-subscriber-growth-and-rising-margins-keep-analysts-bullish" target="_blank" rel="noreferrer noopener">More Wall Street analysts</a> rerated Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) and raised their price targets after the company reported an upbeat quarterly print Tuesday.
Spotify reported an EPS of $1.88, below the&nbsp;analyst estimate of $2.06. The company reported sales of $4.53 billion (4.24 billion euros), up by 16%, topping the consensus estimate of $4.15 billion.
<ul>
<li>Rosenblatt analyst Barton Crockett downgraded Spotify from Buy to Neutral and raised the <a target="_blank" href="https://www.benzinga.com/quote/SPOT/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$473&nbsp;to&nbsp;$658</a>.</li>
<li>Morgan Stanley analyst Benjamin Swinburne maintained Spotify with an Overweight and raised the price target from&nbsp;$550&nbsp;to&nbsp;$670.</li>
<li>Goldman Sachs analyst Eric Sheridan reiterated a Buy on Spotify with a price target of $695, up from $550.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/25/02/43473500/nintendo-q3-earnings-revenue-drops-cuts-outlook-and-dividend-switch-sales-slow-ahead-of-next-gen-console" target="_blank" rel="noreferrer noopener">Nintendo Q3 Revenue Drops, Cuts Outlook and Dividend, Switch Sales Slow Ahead of Next-Gen Console</a>
Rosenblatt: Spotify is executing very well, but revenue growth after an impressive step up in 2024 will likely decelerate in 2025. Explosive operating margin expansion is driven by headcount reductions and leverage on copyright royalties as a percentage of revenues normalizes to more regular levels. In this environment, there&#8217;s less scope for multiple expansion and earnings upside.
Crockett estimates that Spotify&#8217;s 2025 constant currency revenue growth can be 15.5%, 14.5% in 2026E, and 13% in 2027E, driven by normalized mid-single-digit effective ARPU growth, ~ 10% average subscriber growth trending towards 8%, and ad growth accelerating into the double digits. 
The analyst expects gross margin improvements to slow to 130 bps in 2025E and stick near that level of improvement Y/Y in subsequent periods. After 480 bps of operating margin improvement in 2025E versus 2024, he expects +260 bps in 2026E and +170 bps in 2027E. This drives a +20% FCF per share CAGR from 2025E to 2027E. Crockett noted the market would pay a premium price for the durability and visibility of Spotify&#8217;s subscriber model, its vast scale and market leadership, and successful execution, as the market does for Apple Inc.
Morgan Stanley: Spotify&#8217;s strong 2024 results were the most apparent manifestation, financially speaking, of nearly two decades of work. The combination of unique scale, technology leadership, and high levels of engagement suggest it will be challenging for the competition to keep up.
Swinburne raised 2025 revenues by ~2%, which, along with lower expected operating expenses, more than offsets lower expected gross margins and leads the analyst to increase fiscal 2025 EBIT by 1%-2% to €2.4 billion. This higher revenue reflects subscriber outperformance in the fourth quarter and slightly raised net adds expectations for fiscal 2025.
Lower-than-expected ARPU trends in the first half of 2025 are also more than offset by marginally higher assumed ARPU growth in the second half of 2025 to 4%-5%. The lower gross margins reflect incremental investments in video podcasts, music videos, and other innovations as Spotify &#8220;doubles down on the core&#8221; in fiscal 2025 – meaning music. 
Swinburne noted that over time, Spotify can and will look to invest prudently in new products and features for users, creators, and advertisers. He said those investments would increase Spotify&#8217;s value for all those stakeholders. 
The analyst noted that Spotify will then look to monetize that increased value over time, including recurring price increases. Swinburne said it could drive gross margins and remain highly disciplined in operating expense growth as it increases monetization. 
Finally, he noted that the competitive backdrop and shared incentives with the music labels will support these expectations. With 20% revenue CAGR as its long-term ambition, Swinburne now forecasts mid-teens top line in his base case through fiscal 2027, with gross margins reaching 34%-35% and operating margins approaching 20%. This should help deliver FCF per share exceeding $20 in the analyst&#8217;s base case.
Goldman Sachs: Spotify as the clear global leader in audio streaming. Sheridan expects this leadership to drive scaled, compounded user growth and rising engagement across multiple content formats, along with pricing power throughout his forecast period.
He also anticipates continued momentum in gross and operating margins, driven by favorable content costs, cost discipline, and returns from prior investment cycles. Additionally, he sees the potential for a more consistent shareholder return policy, bringing Spotify more in line with its global TMT peers in the coming years.
Price action: SPOT stock was up 0.02% at $621.91 at last check on Wednesday.
Also Read:
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<li><a href="https://www.benzinga.com/markets/commodities/25/02/43444183/chevron-exxon-and-shell-shift-focus-to-powering-ai-growth" target="_blank" rel="noreferrer noopener">Chevron, Exxon And Shell Shift Focus To Powering AI Growth</a></li>
</ul>
Photo: Shutterstock

Downgrades

Reiteration

Spotify Analyst Draws Comparison To Apple On Scale, Pricing

Benchmark analyst Mark Zgutowicz maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Buy and raises the price target from $600 to $720.

Benchmark Maintains Buy on Spotify Technology, Raises Price Target to $720

JP Morgan analyst Doug Anmuth maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and raises the price target from $555 to $730.

JP Morgan Maintains Overweight on Spotify Technology, Raises Price Target to $730

Keybanc analyst Justin Patterson maintains Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) with a Overweight and raises the price target from $600 to $675.

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