Intact Investment Management Inc. Sells 833,330 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Intact Investment Management Inc. trimmed its stake in Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 48.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 873,927 shares of the company's stock after selling 833,330 shares during the period. Intact Investment Management Inc. owned about 0.57% of Lightspeed Commerce worth $7,647,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Lightspeed Commerce by 27.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,073 shares of the company's stock valued at $158,000 after purchasing an additional 2,168 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Lightspeed Commerce during the fourth quarter valued at $165,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lightspeed Commerce during the 4th quarter worth about $256,000. Twinbeech Capital LP bought a new position in shares of Lightspeed Commerce in the 4th quarter worth about $261,000. Finally, Scotia Capital Inc. lifted its stake in shares of Lightspeed Commerce by 12.0% in the 4th quarter. Scotia Capital Inc. now owns 19,225 shares of the company's stock valued at $293,000 after purchasing an additional 2,053 shares during the period. 68.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LSPD has been the topic of several recent analyst reports. Truist Financial assumed coverage on Lightspeed Commerce in a research note on Monday, June 2nd. They issued a "hold" rating and a $11.00 price target on the stock. National Bankshares reduced their price target on shares of Lightspeed Commerce from $15.00 to $13.10 and set a "sector perform" rating for the company in a report on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of Lightspeed Commerce from $15.00 to $12.00 and set a "hold" rating for the company in a research note on Friday, March 28th. Atb Cap Markets cut shares of Lightspeed Commerce from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, BMO Capital Markets reduced their target price on Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating for the company in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $14.04.

Lightspeed Commerce Stock Down 3.4%

LSPD traded down $0.40 during mid-day trading on Wednesday, reaching $11.36. 423,806 shares of the stock were exchanged, compared to its average volume of 921,661. 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 5.26 and a current ratio of 5.36. The stock has a market capitalization of $1.66 billion, a PE ratio of 106.91, a price-to-earnings-growth ratio of 3.44 and a beta of 2.47. The company has a 50 day moving average price of $10.56 and a two-hundred day moving average price of $12.12.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Lightspeed Commerce had a positive return on equity of 0.79% and a negative net margin of 61.96%. The firm had revenue of $253.42 million for the quarter, compared to analysts' expectations of $252.51 million. During the same quarter last year, the firm posted $0.06 earnings per share. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts anticipate 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.