TD Asset Management Inc Sells 225,251 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

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

Several other hedge funds also recently modified their holdings of LSPD. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in 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 acquiring an additional 2,168 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Lightspeed Commerce in the 4th quarter valued at about $165,000. Tempus Wealth Planning LLC bought a new position in shares of Lightspeed Commerce in the first quarter worth about $119,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Lightspeed Commerce during the fourth quarter worth approximately $256,000. Finally, Twinbeech Capital LP bought a new stake in shares of Lightspeed Commerce during the fourth quarter valued at approximately $261,000. Institutional investors and hedge funds own 68.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LSPD shares. Morgan Stanley cut their price target on Lightspeed Commerce from $14.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial boosted their price objective on shares of Lightspeed Commerce from $11.00 to $12.00 and gave the company a "hold" rating in a research report on Thursday, July 17th. National Bankshares increased their target price on Lightspeed Commerce from $13.00 to $15.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Scotiabank boosted their price target on Lightspeed Commerce from $10.00 to $12.00 and gave the company a "sector perform" rating in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $9.00 price objective (down from $10.00) on shares of Lightspeed Commerce in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $14.74.

Lightspeed Commerce Stock Performance

LSPD traded up $0.11 on Wednesday, reaching $12.55. The company had a trading volume of 231,427 shares, compared to its average volume of 940,070. The stock has a market cap of $1.72 billion, a P/E ratio of -2.79, a P/E/G ratio of 4.02 and a beta of 2.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.60. Lightspeed Commerce Inc. has a fifty-two week low of $7.34 and a fifty-two week high of $18.96. The company's fifty day moving average is $11.86 and its 200 day moving average is $11.41.

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