JPMorgan Chase & Co. Sells 710 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

JPMorgan Chase & Co. decreased its position in Lightspeed Commerce Inc. (NYSE:LSPD) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,137 shares of the company’s stock after selling 710 shares during the period. JPMorgan Chase & Co.’s holdings in Lightspeed Commerce were worth $283,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Westfield Capital Management Co. LP increased its position in shares of Lightspeed Commerce by 30.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,325,531 shares of the company’s stock valued at $54,838,000 after acquiring an additional 766,688 shares during the period. Azora Capital LP increased its holdings in Lightspeed Commerce by 3.4% during the 3rd quarter. Azora Capital LP now owns 1,439,331 shares of the company’s stock valued at $23,735,000 after purchasing an additional 47,359 shares during the period. National Bank of Canada FI raised its position in Lightspeed Commerce by 1.4% during the 3rd quarter. National Bank of Canada FI now owns 1,161,144 shares of the company’s stock valued at $19,146,000 after purchasing an additional 16,267 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Lightspeed Commerce by 10,117.5% in the 3rd quarter. Intact Investment Management Inc. now owns 877,680 shares of the company’s stock worth $14,473,000 after buying an additional 869,090 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Lightspeed Commerce by 226.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 370,500 shares of the company’s stock worth $6,108,000 after buying an additional 256,900 shares during the last quarter. 68.68% of the stock is owned by hedge funds and other institutional investors.

Lightspeed Commerce Stock Up 1.8 %

Shares of Lightspeed Commerce stock opened at $14.71 on Friday. The company has a 50-day simple moving average of $16.02 and a two-hundred day simple moving average of $14.99. The stock has a market capitalization of $2.23 billion, a PE ratio of -16.52 and a beta of 2.44. Lightspeed Commerce Inc. has a 52-week low of $11.01 and a 52-week high of $20.09. 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 (NYSE:LSPD) last released its quarterly earnings data 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 analysts’ expectations of $273.90 million. Lightspeed Commerce had a negative return on equity of 0.10% and a negative net margin of 13.56%. On average, analysts anticipate that Lightspeed Commerce Inc. will post -0.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LSPD. Benchmark raised their price target on Lightspeed Commerce from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Lightspeed Commerce from $20.00 to $26.00 in a research report on Friday, November 8th. Barclays cut shares of Lightspeed Commerce from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $20.00 to $18.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Lightspeed Commerce from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Lightspeed Commerce from a “strong sell” rating to a “moderate buy” rating in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.50.

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.