Compagnie Lombard Odier SCmA Sells 44,285 Shares of Spotify Technology S.A. (NYSE:SPOT)

Compagnie Lombard Odier SCmA lowered its stake in shares of Spotify Technology S.A. (NYSE:SPOT - Free Report) by 37.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,682 shares of the company's stock after selling 44,285 shares during the period. Compagnie Lombard Odier SCmA's holdings in Spotify Technology were worth $41,077,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SPOT. Auxano Advisors LLC grew its position in shares of Spotify Technology by 2.5% during the 4th quarter. Auxano Advisors LLC now owns 828 shares of the company's stock valued at $370,000 after acquiring an additional 20 shares during the period. SRS Capital Advisors Inc. boosted its holdings in Spotify Technology by 4.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 573 shares of the company's stock worth $256,000 after buying an additional 25 shares during the period. Covenant Partners LLC boosted its holdings in Spotify Technology by 2.5% in the 4th quarter. Covenant Partners LLC now owns 1,024 shares of the company's stock worth $458,000 after buying an additional 25 shares during the period. First Horizon Advisors Inc. boosted its holdings in Spotify Technology by 5.4% in the 4th quarter. First Horizon Advisors Inc. now owns 504 shares of the company's stock worth $225,000 after buying an additional 26 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Spotify Technology by 13.3% in the 4th quarter. Harbour Investments Inc. now owns 222 shares of the company's stock worth $99,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Spotify Technology Stock Down 1.0%

Spotify Technology stock traded down $7.28 during trading hours on Thursday, hitting $701.86. The stock had a trading volume of 1,021,429 shares, compared to its average volume of 2,212,577. The stock has a market capitalization of $143.68 billion, a P/E ratio of 117.96 and a beta of 1.68. Spotify Technology S.A. has a 12-month low of $288.07 and a 12-month high of $717.87. The stock's 50-day moving average price is $622.37 and its 200-day moving average price is $562.99.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($1.16). The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.22 billion. Spotify Technology had a net margin of 7.26% and a return on equity of 25.56%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. On average, research analysts expect that Spotify Technology S.A. will post 10.3 EPS for the current fiscal year.

Analysts Set New Price Targets

SPOT has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Spotify Technology from $690.00 to $740.00 and gave the stock an "overweight" rating in a report on Friday, March 28th. Cantor Fitzgerald cut their price target on shares of Spotify Technology from $600.00 to $520.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. China Renaissance assumed coverage on shares of Spotify Technology in a report on Wednesday, March 26th. They issued a "buy" rating and a $740.00 price target for the company. KeyCorp cut their price target on shares of Spotify Technology from $675.00 to $625.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group reissued an "overweight" rating on shares of Spotify Technology in a report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $611.14.

Spotify Technology Company Profile

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.