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 8.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,627 shares of the company’s stock after selling 14,723 shares during the period. Compagnie Lombard Odier SCmA owned about 0.08% of Spotify Technology worth $58,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Spotify Technology by 86.0% in the first quarter. Larson Financial Group LLC now owns 93 shares of the company’s stock worth $25,000 after acquiring an additional 43 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Spotify Technology in the second quarter worth $25,000. Benjamin Edwards Inc. lifted its stake in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Mather Group LLC. lifted its stake in Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company’s stock worth $31,000 after purchasing an additional 99 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its stake in Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Stock Performance

SPOT stock traded down $4.30 on Friday, hitting $373.70. The company had a trading volume of 1,260,659 shares, compared to its average volume of 1,566,536. Spotify Technology S.A. has a 12-month low of $145.76 and a 12-month high of $389.23. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $348.38 and its 200 day simple moving average is $319.32. The stock has a market cap of $74.38 billion, a price-to-earnings ratio of 152.53 and a beta of 1.58.

Spotify Technology (NYSE:SPOT) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted ($1.69) EPS. As a group, equities research analysts expect that Spotify Technology S.A. will post 6.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPOT. Redburn Atlantic reissued a “sell” rating and issued a $230.00 price target on shares of Spotify Technology in a research note on Wednesday, July 10th. Evercore ISI upped their price objective on shares of Spotify Technology from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley upped their price objective on shares of Spotify Technology from $370.00 to $400.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. TD Cowen upped their price objective on shares of Spotify Technology from $273.00 to $356.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, Guggenheim upped their price objective on shares of Spotify Technology from $400.00 to $420.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $359.14.

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.