Compagnie Lombard Odier SCmA Sells 14,723 Shares of Spotify Technology S.A. (NYSE:SPOT)

Compagnie Lombard Odier SCmA lowered its holdings in Spotify Technology S.A. (NYSE:SPOT - Free Report) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 158,627 shares of the company's stock after selling 14,723 shares during the quarter. Compagnie Lombard Odier SCmA owned about 0.08% of Spotify Technology worth $58,459,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of Spotify Technology by 86.0% in the 1st quarter. Larson Financial Group LLC now owns 93 shares of the company's stock valued at $25,000 after buying an additional 43 shares during the period. Transcendent Capital Group LLC bought a new stake in Spotify Technology during the 2nd quarter worth approximately $25,000. Benjamin Edwards Inc. lifted its stake in Spotify Technology by 214.8% in the second quarter. Benjamin Edwards Inc. now owns 85 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of Spotify Technology by 9,900.0% in the second quarter. Mather Group LLC. now owns 100 shares of the company's stock valued at $31,000 after buying an additional 99 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Spotify Technology by 400.0% in the first quarter. FinTrust Capital Advisors LLC now owns 125 shares of the company's stock valued at $33,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 84.09% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group raised shares of Spotify Technology from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $320.00 to $425.00 in a research report on Wednesday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $405.00 price objective on shares of Spotify Technology in a research report on Monday, July 22nd. Morgan Stanley boosted their price objective on shares of Spotify Technology from $370.00 to $400.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. KeyCorp boosted their price objective on shares of Spotify Technology from $420.00 to $440.00 and gave the company an "overweight" rating in a research report on Monday, September 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Spotify Technology from $396.00 to $399.00 and gave the company a "buy" rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $359.14.

Spotify Technology Stock Down 1.1 %

NYSE SPOT traded down $4.30 on Friday, hitting $373.70. 1,260,659 shares of the company were exchanged, compared to its average volume of 1,566,536. The company has a market cap of $74.38 billion, a PE ratio of 152.53 and a beta of 1.58. Spotify Technology S.A. has a 12 month low of $145.76 and a 12 month high of $389.23. The stock has a fifty day moving average of $348.38 and a 200-day moving average of $319.32. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.31.

Spotify Technology (NYSE:SPOT - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.25. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.82 billion. Spotify Technology had a net margin of 3.22% and a return on equity of 15.23%. Spotify Technology's revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.69) earnings per share. As a group, analysts forecast that Spotify Technology S.A. will post 6.24 earnings per share for the current year.

Spotify Technology 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.