Lightspeed Commerce Inc. (NYSE:LSPD) Stock Position Cut by FIL Ltd

FIL Ltd lessened its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,632,244 shares of the company's stock after selling 2,791,444 shares during the quarter. FIL Ltd owned 9.63% of Lightspeed Commerce worth $223,130,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Lightspeed Commerce by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company's stock valued at $81,319,000 after purchasing an additional 70,324 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Lightspeed Commerce by 37,065.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company's stock worth $63,688,000 after acquiring an additional 4,170,557 shares during the last quarter. Bank of Montreal Can increased its position in shares of Lightspeed Commerce by 1.1% during the fourth quarter. Bank of Montreal Can now owns 2,022,590 shares of the company's stock worth $30,803,000 after acquiring an additional 21,357 shares during the last quarter. Intact Investment Management Inc. lifted its stake in shares of Lightspeed Commerce by 94.5% in the fourth quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company's stock worth $26,031,000 after acquiring an additional 829,577 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Lightspeed Commerce by 266.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company's stock valued at $20,660,000 after purchasing an additional 986,100 shares during the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

Lightspeed Commerce Stock Performance

Shares of LSPD stock traded up $0.12 during trading hours on Monday, reaching $9.23. The stock had a trading volume of 459,413 shares, compared to its average volume of 962,253. The firm has a market capitalization of $1.41 billion, a PE ratio of -11.54, a price-to-earnings-growth ratio of 3.03 and a beta of 2.52. The firm has a 50-day simple moving average of $11.09 and a 200-day simple moving average of $14.29. Lightspeed Commerce Inc. has a twelve month low of $7.34 and a twelve month high of $18.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, equities analysts forecast that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LSPD shares. JPMorgan Chase & Co. restated an "underweight" rating and set a $9.00 price objective (down from $10.00) on shares of Lightspeed Commerce in a report on Monday. Royal Bank of Canada cut their price target on shares of Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Piper Sandler decreased their price objective on shares of Lightspeed Commerce from $13.00 to $11.00 and set a "neutral" rating for the company in a report on Thursday, March 27th. Stifel Nicolaus dropped their target price on shares of Lightspeed Commerce from $15.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, March 28th. Finally, Atb Cap Markets cut shares of Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $15.03.

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.