Balyasny Asset Management L.P. Lowers Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Balyasny Asset Management L.P. cut its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD - Free Report) by 65.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,732 shares of the company's stock after selling 299,308 shares during the period. Balyasny Asset Management L.P. owned 0.10% of Lightspeed Commerce worth $2,417,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in LSPD. Barclays PLC boosted its holdings in Lightspeed Commerce by 8,355.1% during the third quarter. Barclays PLC now owns 29,170 shares of the company's stock worth $481,000 after buying an additional 28,825 shares in the last quarter. Addenda Capital Inc. raised its position in Lightspeed Commerce by 2.0% during the fourth quarter. Addenda Capital Inc. now owns 46,609 shares of the company's stock worth $710,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. raised its position in Lightspeed Commerce by 214.4% during the fourth quarter. Blue Trust Inc. now owns 1,503 shares of the company's stock worth $25,000 after acquiring an additional 1,025 shares during the period. CIBC Asset Management Inc raised its position in Lightspeed Commerce by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 172,182 shares of the company's stock worth $2,620,000 after acquiring an additional 679 shares during the period. Finally, Alberta Investment Management Corp raised its position in Lightspeed Commerce by 45.5% during the fourth quarter. Alberta Investment Management Corp now owns 150,300 shares of the company's stock worth $2,291,000 after acquiring an additional 47,000 shares during the period. 68.68% of the stock is owned by hedge funds and other institutional investors.

Lightspeed Commerce Trading Up 1.5%

Shares of LSPD traded up $0.16 during mid-day trading on Friday, reaching $10.83. The stock had a trading volume of 563,060 shares, compared to its average volume of 936,028. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.10 and a quick ratio of 5.99. Lightspeed Commerce Inc. has a 52-week low of $7.34 and a 52-week high of $18.96. The business's fifty day moving average is $9.66 and its 200 day moving average is $13.27. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -13.54, a P/E/G ratio of 3.03 and a beta of 2.49.

Analyst Ratings Changes

A number of research firms have weighed in on LSPD. BMO Capital Markets reduced their price objective on shares of Lightspeed Commerce from $15.00 to $14.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus reduced their price objective on shares of Lightspeed Commerce from $15.00 to $12.00 and set a "hold" rating for the company in a research report on Friday, March 28th. Barclays reduced their price objective on shares of Lightspeed Commerce from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Piper Sandler reduced their price objective on shares of Lightspeed Commerce from $13.00 to $11.00 and set a "neutral" rating for the company in a research report on Thursday, March 27th. Finally, UBS Group reduced their price objective on shares of Lightspeed Commerce from $17.00 to $14.50 and set a "neutral" rating for the company in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.29.

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.