Geode Capital Management LLC Has $1.08 Million Stock Holdings in Lightspeed Commerce Inc. (NYSE:LSPD)

Geode Capital Management LLC boosted its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 7.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,920 shares of the company’s stock after acquiring an additional 4,629 shares during the quarter. Geode Capital Management LLC’s holdings in Lightspeed Commerce were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Lightspeed Commerce by 102.8% in the 2nd quarter. Toronto Dominion Bank now owns 6,870 shares of the company’s stock valued at $94,000 after purchasing an additional 3,482 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Lightspeed Commerce in the second quarter valued at about $181,000. Aigen Investment Management LP bought a new position in Lightspeed Commerce in the third quarter valued at about $225,000. Polar Asset Management Partners Inc. acquired a new position in Lightspeed Commerce during the third quarter worth about $412,000. Finally, Algert Global LLC bought a new position in shares of Lightspeed Commerce in the third quarter worth about $448,000. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Down 0.8 %

Shares of NYSE LSPD opened at $15.42 on Friday. The company’s 50 day moving average price is $16.67 and its 200-day moving average price is $14.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.94 and a current ratio of 6.08. Lightspeed Commerce Inc. has a 52-week low of $11.01 and a 52-week high of $20.09. The company has a market capitalization of $2.34 billion, a P/E ratio of -17.33 and a beta of 2.44.

Lightspeed Commerce (NYSE:LSPD) last released its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $277.18 million for the quarter, compared to analyst estimates of $273.90 million. Lightspeed Commerce had a negative net margin of 13.56% and a negative return on equity of 0.10%. Equities analysts forecast that Lightspeed Commerce Inc. will post -0.02 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LSPD shares. JPMorgan Chase & Co. lifted their price target on shares of Lightspeed Commerce from $20.00 to $26.00 in a report on Friday, November 8th. TD Securities boosted their target price on shares of Lightspeed Commerce from $15.00 to $19.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. BTIG Research reiterated a “buy” rating and issued a $21.00 price target on shares of Lightspeed Commerce in a research note on Thursday, September 26th. BMO Capital Markets raised their price objective on Lightspeed Commerce from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Piper Sandler upped their target price on Lightspeed Commerce from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.07.

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.