Lightspeed Commerce Inc. (NYSE:LSPD) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. lowered its position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) by 65.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,732 shares of the company’s stock after selling 299,308 shares during the period. Balyasny Asset Management L.P.’s holdings in Lightspeed Commerce were worth $2,417,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position 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 during the period. Addenda Capital Inc. increased its position in Lightspeed Commerce by 2.0% in the 4th quarter. Addenda Capital Inc. now owns 46,609 shares of the company’s stock valued at $710,000 after acquiring an additional 931 shares during the period. Blue Trust Inc. increased its position in Lightspeed Commerce by 214.4% in the 4th quarter. Blue Trust Inc. now owns 1,503 shares of the company’s stock valued at $25,000 after acquiring an additional 1,025 shares during the period. CIBC Asset Management Inc increased its position in Lightspeed Commerce by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 172,182 shares of the company’s stock valued at $2,620,000 after acquiring an additional 679 shares during the period. Finally, Alberta Investment Management Corp increased its position in Lightspeed Commerce by 45.5% in the 4th quarter. Alberta Investment Management Corp now owns 150,300 shares of the company’s stock valued at $2,291,000 after acquiring an additional 47,000 shares during the period. Institutional investors and hedge funds own 68.68% of the company’s stock.

Lightspeed Commerce Price Performance

Shares of NYSE LSPD opened at $10.50 on Tuesday. The company has a current ratio of 6.10, a quick ratio of 5.99 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -13.13, a PEG ratio of 3.03 and a beta of 2.49. The company’s 50-day moving average price is $9.69 and its 200 day moving average price is $13.39. Lightspeed Commerce Inc. has a 52 week low of $7.34 and a 52 week high of $18.96.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LSPD. Piper Sandler dropped their price target on Lightspeed Commerce from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, March 27th. Bank of America dropped their target price on Lightspeed Commerce from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Stifel Nicolaus dropped their target price on Lightspeed Commerce from $15.00 to $12.00 and set a “hold” rating on the stock in a research report on Friday, March 28th. National Bankshares dropped their target price on Lightspeed Commerce from $15.00 to $13.10 and set a “sector perform” rating on the stock in a research report on Friday, April 25th. Finally, Barclays dropped their target price on Lightspeed Commerce from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.29.

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.