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

Compagnie Lombard Odier SCmA trimmed its position in Spotify Technology (NYSE:SPOT) by 16.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,714 shares of the company’s stock after selling 10,527 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Spotify Technology were worth $36,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SPOT. Helios Capital Management PTE. Ltd. grew its stake 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 worth $5,235,000 after acquiring an additional 2,700 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Spotify Technology by 35.1% during the third quarter. Bessemer Group Inc. now owns 682,639 shares of the company’s stock worth $476,483,000 after purchasing an additional 177,310 shares during the last quarter. Truxt Investmentos Ltda. purchased a new stake in shares of Spotify Technology in the third quarter valued at $2,093,000. Ownership Capital B.V. acquired a new position in Spotify Technology in the third quarter valued at $2,769,000. Finally, Generali Asset Management SPA SGR lifted its position in Spotify Technology by 30.9% during the third quarter. Generali Asset Management SPA SGR now owns 68,023 shares of the company’s stock worth $46,692,000 after buying an additional 16,054 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Price Performance

Shares of SPOT opened at $414.74 on Tuesday. Spotify Technology has a 12 month low of $405.00 and a 12 month high of $785.00. The stock’s 50-day moving average is $541.52 and its two-hundred day moving average is $626.11. The stock has a market cap of $85.39 billion, a PE ratio of 65.21, a P/E/G ratio of 0.81 and a beta of 1.66.

Spotify Technology (NYSE:SPOT) last posted its earnings results on Tuesday, February 10th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $2.00. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $4.52 billion. Spotify Technology had a return on equity of 21.68% and a net margin of 8.46%. On average, research analysts anticipate that Spotify Technology will post 10.3 earnings per share for the current 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

Wall Street Analysts Forecast Growth

Several research firms have commented on SPOT. Wall Street Zen upgraded Spotify Technology from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Erste Group Bank downgraded shares of Spotify Technology from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Wells Fargo & Company dropped their price target on shares of Spotify Technology from $750.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Barclays decreased their price target on shares of Spotify Technology from $700.00 to $625.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Spotify Technology in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average 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.