Bank of Nova Scotia cut its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 95.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,085 shares of the company's stock after selling 264,892 shares during the quarter. Bank of Nova Scotia's holdings in Lightspeed Commerce were worth $199,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in LSPD. CIBC Asset Management Inc lifted its position in shares of Lightspeed Commerce by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 172,182 shares of the company's stock valued at $2,620,000 after acquiring an additional 679 shares during the period. Addenda Capital Inc. grew its stake in Lightspeed Commerce by 2.0% during the fourth quarter. Addenda Capital Inc. now owns 46,609 shares of the company's stock worth $710,000 after buying an additional 931 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company's stock worth $25,000 after acquiring an additional 1,025 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Lightspeed Commerce by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company's stock worth $370,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Lightspeed Commerce by 27.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock valued at $158,000 after acquiring an additional 2,168 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on LSPD. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $9.00 target price (down previously from $10.00) on shares of Lightspeed Commerce in a report on Monday, April 14th. Bank of America reduced their price objective on Lightspeed Commerce from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. UBS Group lowered their target price on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research note on Friday, February 7th. Atb Cap Markets downgraded shares of Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Benchmark decreased their price target on shares of Lightspeed Commerce from $21.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lightspeed Commerce currently has an average rating of "Hold" and an average price target of $14.91.
Read Our Latest Report on Lightspeed Commerce
Lightspeed Commerce Trading Down 1.2 %
Lightspeed Commerce stock traded down $0.11 during mid-day trading on Monday, hitting $9.17. 298,907 shares of the stock were exchanged, compared to its average volume of 969,440. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -11.48, a PEG ratio of 3.03 and a beta of 2.52. Lightspeed Commerce Inc. has a 12 month low of $7.34 and a 12 month high of $18.96. The company has a quick ratio of 5.99, a current ratio of 6.10 and a debt-to-equity ratio of 0.01. The firm's fifty day simple moving average is $10.68 and its two-hundred day simple moving average is $14.04.
Lightspeed Commerce (NYSE:LSPD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Analysts forecast that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.
Lightspeed Commerce Profile
(
Free Report)
Lightspeed Commerce Inc engages in sale of cloud-based software subscriptions and payments solutions for small and midsize businesses, retailers, restaurants, and golf course operators in North America, Europe, the United Kingdom, Australia, New Zealand, and internationally. Its Software as a Service platform enables customers to engage with consumers, manage operations, accept payments, etc.
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