Compagnie Lombard Odier SCmA Cuts Position in Spotify Technology S.A. (NYSE:SPOT)

Compagnie Lombard Odier SCmA cut its stake in Spotify Technology S.A. (NYSE:SPOT) by 25.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,967 shares of the company’s stock after selling 39,660 shares during the period. Compagnie Lombard Odier SCmA owned about 0.06% of Spotify Technology worth $53,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its position in Spotify Technology by 5.8% during the third quarter. First Horizon Advisors Inc. now owns 478 shares of the company’s stock valued at $176,000 after buying an additional 26 shares during the period. West Bancorporation Inc. boosted its position in Spotify Technology by 3.4% during the third quarter. West Bancorporation Inc. now owns 827 shares of the company’s stock valued at $305,000 after buying an additional 27 shares during the period. Joel Isaacson & Co. LLC boosted its position in Spotify Technology by 1.9% during the fourth quarter. Joel Isaacson & Co. LLC now owns 1,559 shares of the company’s stock valued at $697,000 after buying an additional 29 shares during the period. Avior Wealth Management LLC boosted its position in Spotify Technology by 12.0% during the third quarter. Avior Wealth Management LLC now owns 281 shares of the company’s stock valued at $104,000 after buying an additional 30 shares during the period. Finally, Park National Corp OH boosted its position in Spotify Technology by 4.1% during the fourth quarter. Park National Corp OH now owns 793 shares of the company’s stock valued at $355,000 after buying an additional 31 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Up 1.2 %

Shares of SPOT stock opened at $647.97 on Friday. Spotify Technology S.A. has a 12-month low of $239.14 and a 12-month high of $652.63. The firm’s 50 day moving average is $502.48 and its 200 day moving average is $421.64. The stock has a market capitalization of $128.98 billion, a P/E ratio of 108.90 and a beta of 1.63.

Spotify Technology (NYSE:SPOT) last issued its earnings results on Tuesday, November 12th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 25.56% and a net margin of 7.26%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. As a group, equities analysts predict that Spotify Technology S.A. will post 9.69 earnings per share for the current year.

Analyst Ratings Changes

SPOT has been the subject of several recent analyst reports. Bank of America upped their price objective on shares of Spotify Technology from $430.00 to $515.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Pivotal Research upped their price objective on shares of Spotify Technology from $510.00 to $565.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Macquarie upped their price objective on shares of Spotify Technology from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Barclays upped their price objective on shares of Spotify Technology from $475.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $480.00 price objective (down from $490.00) on shares of Spotify Technology in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $514.79.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.