Lightspeed Commerce Inc. (NYSE:LSPD) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its position in Lightspeed Commerce by 36.5%, selling 225,251 shares and now holds approximately 0.26% of the company worth $3.43 million.
• Several institutional investors, including Scotia Capital and Mitsubishi UFJ Asset Management, increased their stakes in Lightspeed Commerce during the fourth quarter.
• Analysts have mixed ratings for Lightspeed, with one sell rating, twelve hold ratings, and five buy ratings, while the average target price stands at $14.74.

TD Asset Management Inc reduced its holdings in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 36.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,156 shares of the company's stock after selling 225,251 shares during the period. TD Asset Management Inc owned approximately 0.26% of Lightspeed Commerce worth $3,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LSPD. Vanguard Group Inc. grew its stake in Lightspeed Commerce by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,333,306 shares of the company's stock valued at $81,319,000 after purchasing an additional 70,324 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Lightspeed Commerce by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 3,149,919 shares of the company's stock worth $48,009,000 after purchasing an additional 24,891 shares during the period. Bank of Montreal Can boosted its position in Lightspeed Commerce by 1.1% in the fourth quarter. Bank of Montreal Can now owns 2,022,590 shares of the company's stock valued at $30,803,000 after buying an additional 21,357 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in Lightspeed Commerce in the fourth quarter valued at approximately $24,334,000. Finally, Azora Capital LP boosted its position in Lightspeed Commerce by 1.5% in the fourth quarter. Azora Capital LP now owns 1,460,772 shares of the company's stock valued at $22,248,000 after buying an additional 21,441 shares during the last quarter. 68.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. National Bankshares upped their target price on Lightspeed Commerce from $13.00 to $15.00 and gave the company a "sector perform" rating in a research report on Friday. Benchmark upped their target price on Lightspeed Commerce from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday. Scotiabank upped their target price on Lightspeed Commerce from $10.00 to $12.00 and gave the company a "sector perform" rating in a research report on Monday, July 28th. Morgan Stanley dropped their target price on Lightspeed Commerce from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus upped their target price on Lightspeed Commerce from $12.00 to $14.00 and gave the stock a "hold" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $14.74.

Lightspeed Commerce Price Performance

LSPD stock traded down $0.13 during mid-day trading on Friday, reaching $12.31. 820,566 shares of the company's stock were exchanged, compared to its average volume of 650,957. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -2.74, a price-to-earnings-growth ratio of 3.94 and a beta of 2.48. The stock's 50 day moving average is $11.78 and its 200 day moving average is $11.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.60 and a quick ratio of 4.50. Lightspeed Commerce Inc. has a 12-month low of $7.34 and a 12-month high of $18.96.

Lightspeed Commerce (NYSE:LSPD - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.05). The business had revenue of $304.94 million for the quarter, compared to analysts' expectations of $287.28 million. Lightspeed Commerce had a positive return on equity of 0.33% and a negative net margin of 61.11%. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 EPS. On average, research analysts expect that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

Lightspeed Commerce Company Profile

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.