Compagnie Lombard Odier SCmA Cuts Stock Position in Spotify Technology $SPOT

Compagnie Lombard Odier SCmA trimmed its position in shares of Spotify Technology (NYSE:SPOT) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,714 shares of the company’s stock after selling 10,527 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Spotify Technology were worth $36,794,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SPOT. Helios Capital Management PTE. Ltd. raised its position in Spotify Technology by 56.3% in the 3rd quarter. Helios Capital Management PTE. Ltd. now owns 7,500 shares of the company’s stock valued at $5,235,000 after purchasing an additional 2,700 shares in the last quarter. Bessemer Group Inc. raised its holdings in Spotify Technology by 35.1% in the third quarter. Bessemer Group Inc. now owns 682,639 shares of the company’s stock valued at $476,483,000 after acquiring an additional 177,310 shares in the last quarter. Truxt Investmentos Ltda. purchased a new position in Spotify Technology in the third quarter worth approximately $2,093,000. Ownership Capital B.V. acquired a new position in Spotify Technology during the 3rd quarter worth approximately $2,769,000. Finally, Generali Asset Management SPA SGR increased its position in shares of Spotify Technology by 30.9% in the 3rd quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock valued at $46,692,000 after purchasing an additional 16,054 shares during the last quarter. 84.09% of the stock is owned by institutional investors and hedge funds.

Spotify Technology Price Performance

Shares of NYSE:SPOT opened at $414.74 on Tuesday. Spotify Technology has a 1-year low of $405.00 and a 1-year high of $785.00. The stock has a market cap of $85.39 billion, a P/E ratio of 65.21, a P/E/G ratio of 0.81 and a beta of 1.66. The firm has a fifty day moving average price of $541.52 and a 200 day moving average price of $626.11.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, February 10th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $3.20 by $2.00. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%.The company had revenue of $5.32 billion for the quarter, compared to the consensus estimate of $4.52 billion. Sell-side analysts expect that Spotify Technology will post 10.3 EPS for the current fiscal year.

Key Headlines Impacting Spotify Technology

Here are the key news stories impacting Spotify Technology this week:

• Positive Sentiment: Big earnings and revenue beat — Spotify posted $5.20 EPS (vs. $3.20 est.) and $5.32B revenue; management slide deck is available for details. Earnings Slide Deck
• Positive Sentiment: Raised/strong Q1 outlook — Spotify forecast first-quarter profit above estimates, which triggered premarket strength. Reuters: Spotify expects profit above estimates as founder Daniel Ek moves to new role
• Positive Sentiment: Subscriber growth remains healthy — Premium subscribers rose ~10% YoY to ~290M, supporting recurring revenue trends. WSJ: Spotify Keeps Adding Subscribers as Features Expand
• Positive Sentiment: New product/features — Spotify rolled out a behind-the-scenes feature for tracks that could boost engagement and retention. MSN: Spotify has a new feature
• Neutral Sentiment: Wall Street modeling and near-term coverage — Pre-earnings analyst note roundup and forecast changes ahead of the print (useful for gauging expectations). Benzinga: Spotify Gears Up For Q4 Print
• Neutral Sentiment: Options/technical commentary — Several trader-oriented videos and pieces discuss technical support/resistance and option strategies around the earnings event. YouTube: Options Corner: SPOT
• Negative Sentiment: Analyst price-target cut — KeyCorp trimmed its target from $830 to $720 despite keeping an overweight rating, which can temper upside and signal more conservative valuations. Benzinga: KeyCorp lowers SPOT price target
• Negative Sentiment: Valuation/expectations scrutiny — Some analysts/commentators (CFRA and others) flag valuation and the need for sustained metric execution, which could limit multiple expansion. YouTube: Spotify’s “Monolithic” Potential Faces Earnings Questions & SPOT Options Trade

Analyst Ratings Changes

Several equities analysts recently commented on the company. Erste Group Bank lowered Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Rosenblatt Securities cut their target price on Spotify Technology from $700.00 to $670.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 5th. DZ Bank raised Spotify Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Moffett Nathanson started coverage on shares of Spotify Technology in a research note on Tuesday, January 27th. They issued a “neutral” rating and a $487.00 price target on the stock. Finally, Benchmark reduced their price objective on shares of Spotify Technology from $860.00 to $760.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $724.16.

Spotify Technology 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.