Wellington Management Group LLP Cuts Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Wellington Management Group LLP reduced its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 668,845 shares of the company’s stock after selling 46,790 shares during the period. Wellington Management Group LLP owned about 0.44% of Lightspeed Commerce worth $10,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Lightspeed Commerce by 214.4% during the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock worth $25,000 after purchasing an additional 1,025 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Lightspeed Commerce by 27.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company’s stock valued at $158,000 after buying an additional 2,168 shares in the last quarter. Toronto Dominion Bank increased its position in Lightspeed Commerce by 153.4% during the 3rd quarter. Toronto Dominion Bank now owns 17,408 shares of the company’s stock worth $287,000 after purchasing an additional 10,538 shares in the last quarter. Amundi grew its stake in Lightspeed Commerce by 20.5% in the 4th quarter. Amundi now owns 22,538 shares of the company’s stock worth $347,000 after acquiring an additional 3,838 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Lightspeed Commerce by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,296 shares of the company’s stock valued at $370,000 after buying an additional 1,276 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Stock Up 14.4 %

LSPD stock opened at $9.21 on Thursday. The firm has a market cap of $1.41 billion, a PE ratio of -11.51, a P/E/G ratio of 3.03 and a beta of 2.52. Lightspeed Commerce Inc. has a 12 month low of $7.34 and a 12 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. The firm has a 50 day simple moving average of $11.30 and a 200 day simple moving average of $14.39.

Lightspeed Commerce (NYSE:LSPD) last released its quarterly earnings data 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%. Equities research analysts forecast that Lightspeed Commerce Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America decreased their price target on shares of Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. BMO Capital Markets dropped their price target on Lightspeed Commerce from $15.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, March 27th. Royal Bank of Canada dropped their price target on Lightspeed Commerce from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Scotiabank reduced their price objective on Lightspeed Commerce from $19.00 to $17.00 and set a “sector outperform” rating for the company in a research report on Tuesday, March 25th. Finally, Benchmark dropped their target price on Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.09.

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.