Bank of Nova Scotia Sells 264,892 Shares of Lightspeed Commerce Inc. (NYSE:LSPD)

Bank of Nova Scotia reduced its stake in Lightspeed Commerce Inc. (NYSE:LSPD) by 95.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,085 shares of the company’s stock after selling 264,892 shares during the quarter. Bank of Nova Scotia’s holdings in Lightspeed Commerce were worth $199,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Lightspeed Commerce by 7.1% in the third quarter. FMR LLC now owns 58,971 shares of the company’s stock valued at $972,000 after acquiring an additional 3,900 shares in the last quarter. State Street Corp boosted its stake in shares of Lightspeed Commerce by 29.1% in the third quarter. State Street Corp now owns 353,472 shares of the company’s stock valued at $5,829,000 after buying an additional 79,696 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Lightspeed Commerce during the third quarter worth approximately $699,000. Barclays PLC raised its holdings in Lightspeed Commerce by 8,355.1% in the 3rd quarter. Barclays PLC now owns 29,170 shares of the company’s stock valued at $481,000 after acquiring an additional 28,825 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Lightspeed Commerce by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 64,920 shares of the company’s stock valued at $1,075,000 after acquiring an additional 4,629 shares during the period. 68.68% of the stock is owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Performance

NYSE LSPD opened at $9.00 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.99 and a current ratio of 6.10. The company has a market capitalization of $1.38 billion, a PE ratio of -11.24, a price-to-earnings-growth ratio of 3.03 and a beta of 2.52. Lightspeed Commerce Inc. has a 52-week low of $7.34 and a 52-week high of $18.96. The company has a 50-day simple moving average of $10.92 and a 200 day simple moving average of $14.20.

Lightspeed Commerce (NYSE:LSPD) last issued its earnings results on Thursday, February 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.07). Lightspeed Commerce had a negative net margin of 11.75% and a positive return on equity of 0.61%. On average, research analysts predict that Lightspeed Commerce Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LSPD shares. Benchmark decreased their price target on Lightspeed Commerce from $21.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. UBS Group decreased their target price on shares of Lightspeed Commerce from $17.00 to $14.50 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Lightspeed Commerce from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Atb Cap Markets downgraded Lightspeed Commerce from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Stifel Nicolaus decreased their target price 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.03.

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.