We’ll continue to guess that Daniel Ek had a memorable vacation.
Spotify’s Swedish co-founder and CEO has lost cash. US$27.72 million The company’s stock was incorporated on December 23rd. This is a great addition to anyone’s late festive gift budget.
Actually all of December SEC filing MBW reviewed and Ek cashed in part. $93 million SPOT stock sale.
The sale took place in approximately three transactions. $37 million The deposit was made on December 4th. $28.3 million December 11th, and $27.7 million Cash payment on December 23rd.
Regular MBW readers will know we are monitoring it closely. Spotify share sale Eck And his management team said in 2024 spot Stock prices rose to record levels on the NYSE.
I calculated it at the end of November Eck and his fellow Spotify co-founders. Martin Lorenzonjointly cashed out $840 million As of 2024.
with ex Now factoring in December sales, that figure increases to nearly $1 billion for all of 2024. $932.8 million.
at large, Eck Shares with total market value were cashed out. $376 million In 2024.
Lorenzon’s Stock sales often conducted through his company Rosello company, amount $556.8 million (Unlike Ek, Lorentzon did not cash out any shares in December.)
Other executives who enjoyed a profitable 2024 thanks to Spotify stock include: Barry McCarthy.
McCarthySpotify’s former CFO (and continued board member) cashed out shares worth just over its total market value. US$50 million last year, according to SEC filings.
McCarthy joined Eck In December, he sold some stocks and acquired 21,000 shares of Spotify stock. $10.17 million.
Spotify’s Chief Communications Officer; Dusty JenkinsIt also cashed out some shares in December, selling 10,399 shares for a total market value. 5.22 million dollars.
add these by Daniel Eck Here are the December deals for our running tally: Spotify ManagementSome, including members of the company’s board of directors, have accumulated and cashed out. USD $1.25 billion to 2024.
Why has there been so much insider selling activity? Spotify last year? You already know the answer: spot Huge stock price rise in 2024.
At the end of trading on the New York Stock Exchange at the end of 2023, Spotify’s market capitalization will be approximately $36.6 billion.
When NYSE trading closed at the end of December 2024, the market capitalization soared a whopping 1,000 times. USD $94 billion.
Spotify market capitalization also reaches instantaneous high 100 billion dollars In early December, as the company’s individual stock price exceeded $500 For the first time.
At the time of publication (January 6), Spotify’s stock price on the NYSE is: $466.67When converted to the company’s market capitalization, $93.75 billion.
Spotify is scheduled to release its fourth quarter 2024 quarterly financial results on Tuesday, February 4.
When announcing third quarter performance in 2024 NovemberSpotify’s quarterly sales EUR 4.1 billion In the fourth quarter, with quarterly operating profit EUR 481 million.
if Spotify If you meet those guidelines, you’ll generate approximately annual revenue. 15.5 billion euros And the annual operating profit is 1.37 billion euros.worldwide music business
