Compagnie Lombard Odier SCmA Has $41.08 Million Stake in Spotify Technology S.A. (NYSE:SPOT)

Compagnie Lombard Odier SCmA trimmed its position in Spotify Technology S.A. (NYSE:SPOT) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,682 shares of the company’s stock after selling 44,285 shares during the quarter. Compagnie Lombard Odier SCmA’s holdings in Spotify Technology were worth $41,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC boosted its holdings in Spotify Technology by 30.2% in the 4th quarter. FMR LLC now owns 2,041,387 shares of the company’s stock valued at $913,276,000 after purchasing an additional 473,569 shares during the period. Schroder Investment Management Group raised its position in shares of Spotify Technology by 0.4% in the fourth quarter. Schroder Investment Management Group now owns 1,912,937 shares of the company’s stock valued at $855,810,000 after buying an additional 7,075 shares in the last quarter. GQG Partners LLC bought a new stake in shares of Spotify Technology in the fourth quarter valued at approximately $800,725,000. Geode Capital Management LLC grew its position in Spotify Technology by 561.6% during the fourth quarter. Geode Capital Management LLC now owns 1,483,392 shares of the company’s stock worth $659,841,000 after buying an additional 1,259,183 shares in the last quarter. Finally, Northern Trust Corp grew its position in Spotify Technology by 103.7% during the fourth quarter. Northern Trust Corp now owns 1,426,902 shares of the company’s stock worth $638,367,000 after buying an additional 726,245 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

Spotify Technology Stock Performance

SPOT stock opened at $708.23 on Thursday. The business has a 50-day simple moving average of $622.37 and a two-hundred day simple moving average of $562.99. The company has a market capitalization of $144.98 billion, a P/E ratio of 119.03 and a beta of 1.68. Spotify Technology S.A. has a 52-week low of $288.07 and a 52-week high of $717.87.

Spotify Technology (NYSE:SPOT) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 25.56% and a net margin of 7.26%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 EPS. As a group, sell-side analysts forecast that Spotify Technology S.A. will post 10.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Spotify Technology in a research note on Friday, June 6th. Guggenheim reiterated a “buy” rating on shares of Spotify Technology in a research report on Friday, June 6th. UBS Group restated an “overweight” rating on shares of Spotify Technology in a research report on Friday, June 6th. Evercore ISI decreased their price target on Spotify Technology from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Finally, Rosenblatt Securities dropped their price objective on Spotify Technology from $658.00 to $657.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Spotify Technology currently has an average rating of “Moderate Buy” and an average price target of $611.14.

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.