Bank of America Corp DE Sells 888,776 Shares of Lightspeed Commerce Inc. $LSPD

Key Points

• Bank of America cut its Lightspeed Commerce stake by 46.4% in the first quarter, selling 888,776 shares and retaining 1.03 million shares worth approximately $9.2 million. Institutional investors collectively own 68.68% of the company.
• Analyst sentiment remains mixed, with four Buy, nine Hold and three Sell ratings. Lightspeed has an average rating of Hold and an average price target of $11.32.
• Lightspeed reported quarterly revenue of $322.7 million, up 5.8% year over year and above expectations, while adjusted EPS of $0.13 exceeded consensus by $0.02. Shares recently opened at $10.57.

Bank of America Corp DE lowered its position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 46.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,026,735 shares of the company's stock after selling 888,776 shares during the quarter. Bank of America Corp DE owned about 0.75% of Lightspeed Commerce worth $9,200,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LSPD. Goldman Sachs Group Inc. boosted its position in Lightspeed Commerce by 151.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,148,959 shares of the company's stock valued at $18,803,000 after buying an additional 1,295,469 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lightspeed Commerce by 8.1% in the 2nd quarter. Geode Capital Management LLC now owns 78,301 shares of the company's stock worth $922,000 after buying an additional 5,834 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Lightspeed Commerce by 106.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,386 shares of the company's stock worth $122,000 after buying an additional 5,354 shares during the period. Norges Bank bought a new position in shares of Lightspeed Commerce during the 2nd quarter worth $743,000. Finally, Invesco Ltd. grew its position in shares of Lightspeed Commerce by 2.9% during the 2nd quarter. Invesco Ltd. now owns 29,567 shares of the company's stock worth $346,000 after buying an additional 835 shares in the last quarter. Institutional investors own 68.68% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LSPD shares. Weiss Ratings restated a "sell (d-)" rating on shares of Lightspeed Commerce in a report on Friday, July 17th. Scotiabank cut their target price on shares of Lightspeed Commerce from $12.00 to $10.00 and set a "sector perform" rating on the stock in a research report on Monday, May 25th. JPMorgan Chase & Co. boosted their price target on shares of Lightspeed Commerce from $11.00 to $12.00 and gave the company an "underweight" rating in a report on Friday, July 31st. BTIG Research lowered their price target on shares of Lightspeed Commerce from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 21st. Finally, BMO Capital Markets lowered their price target on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Monday, May 25th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Lightspeed Commerce currently has an average rating of "Hold" and an average price target of $11.32.

Lightspeed Commerce Price Performance

Shares of LSPD stock opened at $10.57 on Tuesday. The stock's 50-day moving average is $10.23 and its 200 day moving average is $9.54. Lightspeed Commerce Inc. has a 1-year low of $7.83 and a 1-year high of $13.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.45. The company has a market cap of $1.46 billion, a P/E ratio of -15.10, a PEG ratio of 1.13 and a beta of 1.88.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. Lightspeed Commerce had a negative net margin of 7.81% and a positive return on equity of 1.06%. The business had revenue of $322.70 million during the quarter, compared to the consensus estimate of $310.58 million. During the same period in the previous year, the company posted $0.06 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. Research analysts predict that Lightspeed Commerce Inc. will post 0.31 earnings per share for the current fiscal year.

About Lightspeed Commerce

Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.

The company's product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.

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