Spotify shares are soaring.
SPOT shares rose on the New York Stock Exchange on Tuesday (November 12), closing at a new all-time high after the company reported third-quarter 2024 results $477.50 Yesterday (November 14th).
it’s back again $458.32 As of today’s close (November 15), that’s still enough to give Spotify a massive market cap $92 billion.
Not surprisingly, some of them Spotify Top shareholder executives take advantage of growth in market valuations by cashing in some of their shares.
The above-mentioned senior executives include Spotify co-founder and CEO, Daniel Ek.
According to SEC documents uncovered by MBW, Ek sold 75,000 Spotify shares rose earlier today (November 15), allowing him to cash out $35.8 million.
This is the fifth time in the past 18 months I has cashed in on some of his Spotify in stock:
Across these five trades (including today), Ek cashed out approx. $376.3 million Has owned Spotify stock since last summer.
However, the largest single cash out of spot stocks did not come from I – from his co-founder Spotify.
A separate document discovered by the U.S. Securities and Exchange Commission (SEC) MBW And registered this week to confirm roscello gmbh Sell 959,762 Stocks on Wednesday (November 13).
That sale generated a huge $383.75 million Rossello’s earnings.
Rosello is a holding company registered in Cyprus and its owners are Almatyis a Luxembourg-based company whose sole shareholder is Spotify co-founder (and former chairman of the company), Martin Lorenzo.
Lorenzon/Rosselot Withdrawn before $81 million exist Spotify Available in June this year.
It’s over $450 million Lorentzon cashed in within five months. If you can get it, that’s great.
Daniel Ek Is the single largest shareholder Spotify By the end of 2023, own/agent ownership 30.86 million common stock of the company, or 15.6% half of the total, according to SEC filings.
However, I through whom these shares are held Deakin Investment vehicles, and among them 30.86 million yes 16.632 million final shares owned Tencent Holdings That EK/DGE Represented through an “irrevocable agent”.
Convert these Tencent stocks, Ike’s As of December 2023, the ultimate individual ownership of SPOT common stock is 14.224 million shares (including warrants), at Spotify’s current share price, its cumulative value would be slightly more than $6.5 billion At the time of publication of this article.
Spotify is about to have its first profitable year.
According to the company’s third-quarter earnings report (and its fourth-quarter forecast), full-year 2024 operating profit is expected to reach $1.5 billion.
Spotify’s global premium subscriber base grows to just over 2.5 billion (252 million) Paying subscribers for the third season.
That’s it 12% Year-on-year, above 6 Wanwang Subscribers are in 246 million Number of submarines counted by SPOT at the end of the previous season (Q2 2024).
The company added 6 million net new users in the third quarter. 1 million Get ahead of the guidance.global music business
