Wellington Management Group LLP Acquires 309,566 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Wellington Management Group LLP raised its holdings in Lightspeed Commerce Inc. (NYSE:LSPD) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,645,493 shares of the company’s stock after acquiring an additional 309,566 shares during the period. Wellington Management Group LLP’s holdings in Lightspeed Commerce were worth $40,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in Lightspeed Commerce by 112.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $40,000 after acquiring an additional 688 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Lightspeed Commerce by 8,464.3% during the first quarter. Captrust Financial Advisors now owns 2,398 shares of the company’s stock worth $73,000 after purchasing an additional 2,370 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Lightspeed Commerce by 164.7% during the first quarter. Advisors Asset Management Inc. now owns 3,341 shares of the company’s stock worth $102,000 after purchasing an additional 2,079 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Lightspeed Commerce during the first quarter worth about $80,000. Finally, Vident Investment Advisory LLC grew its holdings in shares of Lightspeed Commerce by 12.2% during the first quarter. Vident Investment Advisory LLC now owns 9,035 shares of the company’s stock worth $275,000 after purchasing an additional 985 shares during the last quarter. Institutional investors own 51.98% of the company’s stock.

Lightspeed Commerce Price Performance

Shares of LSPD opened at $16.11 on Friday. Lightspeed Commerce Inc. has a 52-week low of $12.45 and a 52-week high of $20.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.53 and a current ratio of 6.63. The business’s 50 day moving average price is $16.65 and its two-hundred day moving average price is $15.26. The firm has a market cap of $2.45 billion, a PE ratio of -2.40 and a beta of 2.36.

Lightspeed Commerce (NYSE:LSPD) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.09. Lightspeed Commerce had a negative return on equity of 3.94% and a negative net margin of 132.94%. The firm had revenue of $209.09 million for the quarter, compared to analyst estimates of $197.30 million. On average, equities analysts anticipate that Lightspeed Commerce Inc. will post -0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LSPD shares. Truist Financial boosted their price target on Lightspeed Commerce from $20.00 to $25.00 in a report on Monday, June 5th. Credit Suisse Group restated a “neutral” rating and set a $15.00 price target on shares of Lightspeed Commerce in a report on Friday, August 4th. Royal Bank of Canada restated an “outperform” rating and set a $21.00 price target on shares of Lightspeed Commerce in a report on Wednesday, August 23rd. BMO Capital Markets upped their target price on Lightspeed Commerce from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Finally, Stifel Nicolaus upped their target price on Lightspeed Commerce from $18.00 to $20.00 and gave the company a “hold” rating in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Lightspeed Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

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.