Bank of America Corp DE Sells 654,595 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Bank of America Corp DE cut its position in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 57.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,398 shares of the company's stock after selling 654,595 shares during the quarter. Bank of America Corp DE owned about 0.32% of Lightspeed Commerce worth $7,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LSPD. Arrowstreet Capital Limited Partnership lifted its stake in Lightspeed Commerce by 37,065.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,181,809 shares of the company's stock worth $63,688,000 after purchasing an additional 4,170,557 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Lightspeed Commerce in the 4th quarter worth approximately $24,334,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Lightspeed Commerce by 266.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,356,600 shares of the company's stock worth $20,660,000 after purchasing an additional 986,100 shares in the last quarter. Intact Investment Management Inc. lifted its stake in Lightspeed Commerce by 94.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,707,257 shares of the company's stock worth $26,031,000 after purchasing an additional 829,577 shares in the last quarter. Finally, NewGen Asset Management Ltd lifted its stake in Lightspeed Commerce by 14.3% in the 4th quarter. NewGen Asset Management Ltd now owns 840,000 shares of the company's stock worth $12,796,000 after purchasing an additional 105,000 shares in the last quarter. 68.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LSPD shares. Scotiabank lowered their target price on shares of Lightspeed Commerce from $11.00 to $10.00 and set a "sector perform" rating on the stock in a research note on Friday, May 23rd. Atb Cap Markets cut shares of Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 26th. UBS Group decreased their price target on shares of Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating on the stock in a report on Friday, February 7th. Wells Fargo & Company decreased their price target on shares of Lightspeed Commerce from $13.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Finally, National Bankshares decreased their price target on shares of Lightspeed Commerce from $15.00 to $13.10 and set a "sector perform" rating on the stock in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lightspeed Commerce presently has a consensus rating of "Hold" and an average price target of $14.23.

Lightspeed Commerce Trading Down 2.8%

Shares of LSPD stock traded down $0.31 on Wednesday, hitting $10.57. 543,943 shares of the company's stock traded hands, compared to its average volume of 926,530. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -13.21, a P/E/G ratio of 3.03 and a beta of 2.49. Lightspeed Commerce Inc. has a one year low of $7.34 and a one 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 company's fifty day simple moving average is $9.67 and its 200 day simple moving average is $13.03.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.01). The firm had revenue of $253.42 million during the quarter, compared to the consensus estimate of $252.51 million. Lightspeed Commerce had a positive return on equity of 0.61% and a negative net margin of 11.75%. Lightspeed Commerce's revenue was up 10.1% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. Equities analysts forecast that Lightspeed Commerce Inc. will post 0.08 EPS for the current 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.