Ameriprise Financial Inc. Purchases Shares of 1,597,780 Lightspeed Commerce Inc. (NYSE:LSPD)

Ameriprise Financial Inc. purchased a new stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,597,780 shares of the company's stock, valued at approximately $24,334,000. Ameriprise Financial Inc. owned approximately 1.05% of Lightspeed Commerce at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in LSPD. Blue Trust Inc. increased its stake in Lightspeed Commerce by 214.4% during the fourth 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 period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Lightspeed Commerce by 27.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock worth $158,000 after buying an additional 2,168 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Lightspeed Commerce during the 4th quarter worth $256,000. Scotia Capital Inc. raised its stake in Lightspeed Commerce by 12.0% during the 4th quarter. Scotia Capital Inc. now owns 19,225 shares of the company's stock valued at $293,000 after acquiring an additional 2,053 shares during the last quarter. Finally, Amundi boosted its holdings in Lightspeed Commerce by 20.5% in the 4th quarter. Amundi now owns 22,538 shares of the company's stock valued at $347,000 after purchasing an additional 3,838 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company's stock.

Lightspeed Commerce Price Performance

NYSE LSPD traded up $0.02 during trading on Tuesday, reaching $10.90. 111,565 shares of the company traded hands, compared to its average volume of 930,492. Lightspeed Commerce Inc. has a 1-year low of $7.34 and a 1-year high of $18.96. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The stock's 50 day moving average price is $9.67 and its two-hundred day moving average price is $13.24. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -13.60, a P/E/G ratio of 3.03 and a beta of 2.49.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LSPD shares. Piper Sandler lowered their target price on Lightspeed Commerce from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, March 27th. UBS Group cut their price objective on Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating on the stock in a report on Friday, February 7th. Stifel Nicolaus lowered their price objective on Lightspeed Commerce from $15.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, March 28th. Morgan Stanley dropped their price target on shares of Lightspeed Commerce from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, National Bankshares reduced their price objective on Lightspeed Commerce from $15.00 to $13.10 and set a "sector perform" rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.29.

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.