Lightspeed Commerce Inc. (NYSE:LSPD) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,555,231 shares of the company’s stock after selling 164,800 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Lightspeed Commerce were worth $69,374,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in LSPD. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Lightspeed Commerce by 266.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company’s stock worth $20,660,000 after buying an additional 986,100 shares during the period. Intact Investment Management Inc. raised its holdings in shares of Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company’s stock worth $26,031,000 after purchasing an additional 829,577 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Lightspeed Commerce in the 3rd quarter valued at about $3,500,000. AGF Management Ltd. purchased a new stake in shares of Lightspeed Commerce during the 4th quarter worth about $1,295,000. Finally, State Street Corp increased its position in Lightspeed Commerce by 29.1% during the 3rd quarter. State Street Corp now owns 353,472 shares of the company’s stock worth $5,829,000 after purchasing an additional 79,696 shares in the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on LSPD shares. Wells Fargo & Company reduced their price target on shares of Lightspeed Commerce from $16.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. Piper Sandler decreased their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday. Scotiabank lowered their price target on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a report on Tuesday. 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. Finally, 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. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lightspeed Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.82.

Lightspeed Commerce Stock Performance

Shares of LSPD opened at $9.37 on Friday. Lightspeed Commerce Inc. has a 52-week low of $9.25 and a 52-week 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 has a market cap of $1.43 billion, a price-to-earnings ratio of -11.71, a PEG ratio of 3.03 and a beta of 2.44. The business’s 50 day moving average is $12.63 and its two-hundred day moving average is $14.73.

Lightspeed Commerce (NYSE:LSPD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (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%. Analysts forecast that Lightspeed Commerce Inc. will post 0.08 EPS for the current fiscal year.

About Lightspeed Commerce

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.