Intact Investment Management Inc. Grows Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Intact Investment Management Inc. raised its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 94.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,707,257 shares of the company's stock after acquiring an additional 829,577 shares during the period. Lightspeed Commerce makes up approximately 0.9% of Intact Investment Management Inc.'s holdings, making the stock its 28th biggest holding. Intact Investment Management Inc. owned approximately 1.12% of Lightspeed Commerce worth $26,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSPD. Blue Trust Inc. increased its stake in Lightspeed Commerce by 214.4% during the fourth 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 last quarter. Aigen Investment Management LP bought a new position in shares of Lightspeed Commerce during the 3rd quarter valued at approximately $225,000. Toronto Dominion Bank raised its holdings in Lightspeed Commerce by 153.4% during the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company's stock valued at $287,000 after buying an additional 10,538 shares during the period. Amundi lifted its position in Lightspeed Commerce by 20.5% in the fourth quarter. Amundi now owns 22,538 shares of the company's stock worth $347,000 after buying an additional 3,838 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Lightspeed Commerce by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company's stock worth $370,000 after buying an additional 1,276 shares during the period. 68.68% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on LSPD shares. Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $16.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, February 7th. Barclays reduced their price objective on shares of Lightspeed Commerce from $18.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, February 7th. UBS Group dropped their target price on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research report on Friday, February 7th. Bank of America initiated coverage on Lightspeed Commerce in a report on Wednesday, February 19th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Piper Sandler dropped their price objective on Lightspeed Commerce from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.39.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD traded down $0.14 during midday trading on Tuesday, reaching $10.48. 1,255,259 shares of the stock were exchanged, compared to its average volume of 912,713. 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 has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $14.90. Lightspeed Commerce Inc. has a twelve month low of $10.20 and a twelve month high of $18.96. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -13.09, a PEG ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results 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%. As a group, analysts anticipate that Lightspeed Commerce Inc. will post 0.08 EPS for the current fiscal year.

Lightspeed Commerce Company Profile

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.