Lightspeed Commerce Inc. (NYSE:LSPD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 53.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 715,635 shares of the company’s stock after selling 814,432 shares during the quarter. Wellington Management Group LLP owned 0.47% of Lightspeed Commerce worth $11,801,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. grew its holdings in Lightspeed Commerce by 10,117.5% during the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock valued at $14,473,000 after purchasing an additional 869,090 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Lightspeed Commerce by 30.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock worth $54,838,000 after acquiring an additional 766,688 shares during the last quarter. NewGen Asset Management Ltd acquired a new position in shares of Lightspeed Commerce in the second quarter worth about $9,241,000. Marshall Wace LLP boosted its holdings in Lightspeed Commerce by 306.5% in the second quarter. Marshall Wace LLP now owns 807,219 shares of the company’s stock valued at $11,051,000 after purchasing an additional 608,661 shares during the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Lightspeed Commerce by 345,464.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 404,310 shares of the company’s stock valued at $5,535,000 after purchasing an additional 404,193 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LSPD. Royal Bank of Canada raised shares of Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a research report on Friday, November 8th. BTIG Research reissued a “buy” rating and issued a $21.00 target price on shares of Lightspeed Commerce in a research report on Thursday, September 26th. BMO Capital Markets increased their price target on shares of Lightspeed Commerce from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Jefferies Financial Group lowered their price objective on Lightspeed Commerce from $22.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Piper Sandler increased their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.07.

Lightspeed Commerce Trading Down 1.8 %

Shares of Lightspeed Commerce stock opened at $16.23 on Friday. The business has a fifty day simple moving average of $16.60 and a 200-day simple moving average of $14.73. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of -18.24 and a beta of 2.40. Lightspeed Commerce Inc. has a fifty-two week low of $11.01 and a fifty-two week high of $21.71. The company has a quick ratio of 5.94, a current ratio of 6.08 and a debt-to-equity ratio of 0.01.

Lightspeed Commerce (NYSE:LSPD) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. The company had revenue of $277.18 million for the quarter, compared to analysts’ expectations of $273.90 million. On average, equities analysts forecast that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Lightspeed Commerce 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.