Arrowstreet Capital Limited Partnership Acquires 4,170,557 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Arrowstreet Capital Limited Partnership boosted its holdings in Lightspeed Commerce Inc. (NYSE:LSPD) by 37,065.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,181,809 shares of the company’s stock after purchasing an additional 4,170,557 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Lightspeed Commerce were worth $63,688,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. FMR LLC increased its position in Lightspeed Commerce by 7.1% during the third quarter. FMR LLC now owns 58,971 shares of the company’s stock worth $972,000 after acquiring an additional 3,900 shares during the period. Verition Fund Management LLC acquired a new stake in Lightspeed Commerce in the 3rd quarter worth $499,000. PDT Partners LLC bought a new position in shares of Lightspeed Commerce during the 3rd quarter worth about $659,000. Azora Capital LP raised its position in shares of Lightspeed Commerce by 3.4% during the third quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after buying an additional 47,359 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Lightspeed Commerce in the third quarter valued at about $412,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LSPD has been the subject of several recent research reports. UBS Group cut their price target on Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. cut their target price on Lightspeed Commerce from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday. Barclays reduced their target price on Lightspeed Commerce from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Friday. Stifel Nicolaus lowered their price target on shares of Lightspeed Commerce from $15.00 to $12.00 and set a “hold” rating on the stock in a report on Friday. Finally, Atb Cap Markets downgraded shares of Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 26th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $15.09.

Lightspeed Commerce Trading Down 3.8 %

LSPD stock opened at $8.75 on Tuesday. The business has a fifty day moving average price of $12.40 and a 200 day moving average price of $14.71. 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 Inc. has a fifty-two week low of $8.72 and a fifty-two week high of $18.96. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -10.93, a P/E/G ratio of 3.03 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last announced its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Analysts expect that Lightspeed Commerce Inc. will post 0.08 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.