We’re going to keep guessing that Daniel Ek is having an unforgettable vacation.
Spotify’s Swedish co-founder and CEO cashes out US$27.72 million Buy company stock on Dec. 23 — It’s a nice boost to anyone’s holiday gift budget.
In fact, Ek cashed out some of the funds in December, according to SEC filings reviewed by MBW $93 million Spot stock sales.
These sales were made through three transactions: approx. $37 million Deposited in the bank on December 4th, then $28.3 million December 11, $27.7 million Withdraw on December 23rd.
Regular MBW readers will know that we are closely monitoring Spotify share sales I and his management team in 2024 – a year that saw Spot goods Shares rose to a record high on the New York Stock Exchange.
In late November, we calculated I and his Spotify co-founder Martin LorensonTogether we cashed in approx. US$840 million 2024 to present.
and Ike’s Now factoring in December sales, that number would increase by nearly $1 billion for all of 2024, or $932.8 million.
in total, I The total market value of cashing out is $376 million 2024.
Lorenzo’s stock sales, usually through his Rosselló company, up to $556.8 million Throughout 2024.
Another executive enjoying big profits in 2024 on Spotify stock is Barry McCarthy.
McCarthySpotify’s former CFO (and ongoing board member) cashed in on a total market capitalization of just over US$50 million last year, according to SEC filings.
McCarthy join in I Sold some shares in December, selling 21,000 ordinary Spotify shares in exchange for US$10.17 million.
Spotify Chief Public Affairs Officer Dusty JenkinsIn December, he also cashed out some of his shares, selling 10,399 shares with a total market value of US$5.22 million.
Add these and Daniel Ek’s What December trading records tell us Spotify Managementincluding members of the company’s board of directors, have cashed out some Dollar US$1.25 billion exist 2024.
Why is there so much insider stock selling activity? Spotify last year? You already know the answer: Spot goods A roadshow on share price growth in 2024.
As of the close of trading on the New York Stock Exchange at the end of 2023, Spotify has a market capitalization of approximately $36.6 billion.
By the end of trading on the New York Stock Exchange in late December 2024, the market capitalization had soared to staggering levels Dollar $94 billion.
Spotify’s market capitalization even reached its peak $100 billion In early December, the company’s individual share price exceeded $500 For the first time ever.
As of the time of publication (January 6), Spotify’s share price on the New York Stock Exchange was $466.67converted into company market value $93.75 billion.
Spotify will report fourth-quarter 2024 financial results on Tuesday, February 4.
When Spotify reported third-quarter 2024 results in November, it forecast quarterly revenue of 4.1 billion euros In the fourth quarter, quarterly operating profit was €481 million.
if Spotify Meeting this guideline, its annual revenue would be approximately 15.5 billion euros The annual operating profit is 1.37 billion euros.global music business
