82,898 Shares in SPS Commerce, Inc. $SPSC Acquired by Lightrock Netherlands B.V.

Key Points

• Lightrock Netherlands B.V. acquired 82,898 shares of SPS Commerce (NASDAQ:SPSC) in Q4, valued at about $7.39 million, representing ~0.22% ownership of the company and ~0.8% of Lightrock's portfolio (its 27th largest holding).
• Insiders have sold 24,102 shares in the last 90 days (≈$1.43M); notable trades include Director Marty M. Reaume selling 1,000 shares at $57.90 and EVP Jamie Thingelstad selling 2,418 shares at $54.94, while insiders own ~0.98% and institutions own ~98.96% of the stock.
• SPS Commerce beat Q4 EPS estimates with $1.14 (vs. $1.00 expected) and revenue of $192.65M (+12.7% YoY), set FY2026 EPS guidance of 4.420–4.500, and carries a consensus analyst rating of "Hold" with a $84.91 target.

Lightrock Netherlands B.V. acquired a new position in SPS Commerce, Inc. (NASDAQ:SPSC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 82,898 shares of the software maker's stock, valued at approximately $7,389,000. SPS Commerce comprises 0.8% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 27th largest holding. Lightrock Netherlands B.V. owned approximately 0.22% of SPS Commerce as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SPSC. Salomon & Ludwin LLC bought a new stake in SPS Commerce during the third quarter worth about $28,000. NewEdge Advisors LLC lifted its stake in SPS Commerce by 545.7% during the first quarter. NewEdge Advisors LLC now owns 226 shares of the software maker's stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Advisory Services Network LLC bought a new stake in SPS Commerce during the third quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd bought a new stake in SPS Commerce during the third quarter worth about $48,000. Finally, Park Place Capital Corp lifted its stake in SPS Commerce by 29.7% during the fourth quarter. Park Place Capital Corp now owns 564 shares of the software maker's stock worth $50,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 98.96% of the company's stock.

Insider Buying and Selling

In other news, Director Marty M. Reaume sold 1,000 shares of the business's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $57.90, for a total value of $57,900.00. Following the completion of the sale, the director owned 9,158 shares of the company's stock, valued at approximately $530,248.20. The trade was a 9.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jamie Thingelstad sold 2,418 shares of the business's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $54.94, for a total value of $132,844.92. Following the completion of the sale, the executive vice president directly owned 56,344 shares of the company's stock, valued at approximately $3,095,539.36. This trade represents a 4.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 24,102 shares of company stock worth $1,425,328. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SPSC. DA Davidson dropped their price target on SPS Commerce from $80.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, February 17th. Robert W. Baird set a $86.00 price target on SPS Commerce in a research note on Friday, February 13th. Rothschild & Co Redburn set a $60.00 price target on SPS Commerce in a research note on Thursday. Citigroup reaffirmed a "buy" rating and set a $84.00 price target (down from $110.00) on shares of SPS Commerce in a research note on Friday, February 13th. Finally, Craig Hallum lowered SPS Commerce from a "buy" rating to a "hold" rating and set a $70.00 price target for the company. in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $84.91.

SPS Commerce Trading Up 5.3%

NASDAQ SPSC opened at $55.36 on Thursday. SPS Commerce, Inc. has a 1-year low of $50.55 and a 1-year high of $153.16. The stock has a 50-day moving average of $59.68 and a 200-day moving average of $80.83. The firm has a market cap of $2.07 billion, a PE ratio of 22.60 and a beta of 0.62.

SPS Commerce (NASDAQ:SPSC - Get Free Report) last released its earnings results on Thursday, February 12th. The software maker reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.14. SPS Commerce had a return on equity of 12.73% and a net margin of 12.42%.The company had revenue of $192.65 million during the quarter, compared to analyst estimates of $193.60 million. During the same quarter in the previous year, the company posted $0.89 EPS. SPS Commerce's revenue for the quarter was up 12.7% on a year-over-year basis. SPS Commerce has set its FY 2026 guidance at 4.420-4.500 EPS and its Q1 2026 guidance at 0.950-0.990 EPS. As a group, equities research analysts forecast that SPS Commerce, Inc. will post 2.73 earnings per share for the current fiscal year.

About SPS Commerce

SPS Commerce, Inc is a leading provider of cloud-based supply chain management solutions that enable seamless collaboration between retailers, suppliers and logistics providers. Through its robust network, SPS Commerce connects trading partners with electronic data interchange (EDI) capabilities, helping businesses automate order processing, inventory management and fulfillment workflows. The company's platform ensures data accuracy, accelerates order-to-cash cycles and reduces manual intervention, supporting a wide range of industries including retail, grocery, consumer goods and automotive.

The company offers a suite of services encompassing EDI, retail-ready compliance, order management and data analytics.

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