Canada Pension Plan Investment Board Trims Stake in Lightspeed Commerce Inc. (NYSE:LSPD)

Canada Pension Plan Investment Board trimmed its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 49.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,000 shares of the company's stock after selling 101,700 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Lightspeed Commerce worth $1,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LSPD. State Street Corp raised 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 during the last quarter. Barclays PLC lifted its stake in shares of Lightspeed Commerce by 8,355.1% in the third quarter. Barclays PLC now owns 29,170 shares of the company's stock worth $481,000 after acquiring an additional 28,825 shares during the period. Geode Capital Management LLC boosted its holdings in Lightspeed Commerce by 7.7% in the third quarter. Geode Capital Management LLC now owns 64,920 shares of the company's stock valued at $1,075,000 after acquiring an additional 4,629 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Lightspeed Commerce by 1.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 229,612 shares of the company's stock valued at $3,497,000 after purchasing an additional 2,231 shares during the period. Finally, Addenda Capital Inc. raised its holdings in Lightspeed Commerce by 2.0% during the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company's stock worth $710,000 after purchasing an additional 931 shares during the last quarter. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. BMO Capital Markets cut their price target on shares of Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating on the stock in a research report on Thursday, March 27th. 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 report on Friday, February 7th. Atb Cap Markets cut Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 26th. Bank of America lowered their price objective on shares of Lightspeed Commerce from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Finally, Royal Bank of Canada cut their target price on shares of Lightspeed Commerce from $20.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.29.

Lightspeed Commerce Stock Performance

NYSE LSPD traded down $0.15 during trading on Tuesday, hitting $10.05. 89,964 shares of the company's stock traded hands, compared to its average volume of 986,308. Lightspeed Commerce Inc. has a 12-month low of $7.34 and a 12-month high of $18.96. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -12.57, a PEG ratio of 3.03 and a beta of 2.52. 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 business has a 50 day moving average of $10.24 and a 200-day moving average of $13.79.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results 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 negative net margin of 11.75% and a positive return on equity of 0.61%. As a group, equities research analysts anticipate that Lightspeed Commerce Inc. will post 0.08 earnings per share 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.