BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Position in Lightspeed Commerce Inc. (NYSE:LSPD)

Posted by Defense World Staff on Jun 4th, 2023

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Lightspeed Commerce Inc. (NYSE:LSPD – Get Rating) by 5.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 57,697 shares of the company’s stock after buying an additional 3,151 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lightspeed Commerce were worth $825,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board raised its stake in shares of Lightspeed Commerce by 57.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 24,582 shares of the company’s stock valued at $351,000 after buying an additional 8,926 shares during the last quarter. Bank of America Corp DE grew its position in shares of Lightspeed Commerce by 12.7% during the 4th quarter. Bank of America Corp DE now owns 260,651 shares of the company’s stock valued at $3,727,000 after acquiring an additional 29,362 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lightspeed Commerce during the 4th quarter valued at about $1,199,000. Artisan Partners Limited Partnership grew its position in shares of Lightspeed Commerce by 11.2% during the 4th quarter. Artisan Partners Limited Partnership now owns 3,255,287 shares of the company’s stock valued at $46,521,000 after acquiring an additional 327,199 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lightspeed Commerce by 38.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,021,596 shares of the company’s stock valued at $14,610,000 after acquiring an additional 282,685 shares during the period. Hedge funds and other institutional investors own 51.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Lightspeed Commerce from $30.00 to $20.00 in a report on Friday, May 19th. Barclays lowered their price objective on Lightspeed Commerce from $20.00 to $17.00 in a report on Friday, May 19th. Moffett Nathanson cut Lightspeed Commerce from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $23.00 to $17.00 in a report on Tuesday, March 7th. KeyCorp lowered their price objective on Lightspeed Commerce from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. Finally, Credit Suisse Group lowered their price objective on Lightspeed Commerce from $18.00 to $15.00 in a report on Friday, May 19th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Lightspeed Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $21.14.

Lightspeed Commerce Stock Performance

LSPD stock opened at $15.01 on Friday. The company has a quick ratio of 6.12, a current ratio of 6.21 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average price is $13.87 and its 200-day moving average price is $14.98. Lightspeed Commerce Inc. has a one year low of $12.45 and a one year high of $28.35.

Lightspeed Commerce Profile

(Get Rating)

Lightspeed Commerce Inc provides commerce enabling Software as a Service (SaaS) platform for small and midsize businesses, retailers, restaurants, and golf course operators in Canada, the United States, Australia, the Netherlands, and internationally. Its SaaS platform enables customers to engage with consumers, manage operations, accept payments, etc.