Compagnie Lombard Odier SCmA Sells 2,296 Shares of Spotify Technology $SPOT

Key Points

• Compagnie Lombard Odier SCmA sold 2,296 Spotify shares in Q4, reducing its stake by 4.4% to 50,418 shares worth about $29.28 million.
• Analysts have recently trimmed ratings and targets — including large cuts by Pivotal (to $420) and Cantor Fitzgerald (to $525) — but consensus remains a Moderate Buy with an average price target of $699.
• Spotify reported a strong quarter (EPS $5.16 vs. $3.16 est., revenue $5.32B), yet the stock is down ~2.8% and trading around $471.55 with a market cap near $97.1B.

Compagnie Lombard Odier SCmA reduced its holdings in shares of Spotify Technology (NYSE:SPOT - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,418 shares of the company's stock after selling 2,296 shares during the period. Compagnie Lombard Odier SCmA's holdings in Spotify Technology were worth $29,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sivia Capital Partners LLC bought a new stake in Spotify Technology in the 2nd quarter valued at about $312,000. Lido Advisors LLC raised its stake in Spotify Technology by 10.3% during the 2nd quarter. Lido Advisors LLC now owns 2,608 shares of the company's stock worth $2,001,000 after buying an additional 244 shares during the period. VestGen Advisors LLC boosted its holdings in Spotify Technology by 5.0% in the second quarter. VestGen Advisors LLC now owns 694 shares of the company's stock worth $533,000 after acquiring an additional 33 shares in the last quarter. Westerkirk Capital Inc. acquired a new stake in Spotify Technology in the second quarter valued at approximately $872,000. Finally, Pinkerton Wealth LLC acquired a new stake in Spotify Technology in the second quarter valued at approximately $876,000. 84.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SPOT has been the topic of a number of research reports. Benchmark lowered their target price on Spotify Technology from $860.00 to $760.00 and set a "buy" rating on the stock in a research report on Friday, January 16th. Citizens Jmp assumed coverage on shares of Spotify Technology in a research note on Wednesday, December 17th. They set a "market outperform" rating and a $800.00 price target for the company. Weiss Ratings downgraded shares of Spotify Technology from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, February 26th. Pivotal Research lowered shares of Spotify Technology from a "buy" rating to a "hold" rating and dropped their price objective for the company from $875.00 to $420.00 in a research note on Wednesday, February 11th. Finally, Cantor Fitzgerald reduced their price objective on shares of Spotify Technology from $615.00 to $525.00 and set a "neutral" rating for the company in a report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $699.00.

Spotify Technology Stock Down 2.8%

SPOT stock opened at $471.55 on Thursday. Spotify Technology has a twelve month low of $405.00 and a twelve month high of $785.00. The stock's 50 day moving average is $490.49 and its 200-day moving average is $576.36. The firm has a market capitalization of $97.08 billion, a PE ratio of 48.92, a P/E/G ratio of 1.06 and a beta of 1.66.

Spotify Technology (NYSE:SPOT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $2.00. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.14 billion. Spotify Technology had a return on equity of 31.35% and a net margin of 13.16%.Spotify Technology's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.88 earnings per share. On average, equities research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current fiscal year.

Spotify Technology Company Profile

Spotify Technology is a digital audio streaming company best known for its on-demand music service and a growing portfolio of spoken-word content. Founded in Sweden in 2006 by Daniel Ek and Martin Lorentzon and launched commercially in 2008, the company offers a cross-platform app that enables users to discover, stream and organize music, podcasts and other audio. Its primary consumer products include a free, ad-supported tier and a paid Spotify Premium subscription that provides ad-free listening, offline playback and higher-quality audio streams.

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