RK Capital Management LLC Invests $5.92 Million in Lightspeed Commerce Inc. (NYSE:LSPD)

RK Capital Management LLC bought a new position in shares of Lightspeed Commerce Inc. (NYSE:LSPD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 281,900 shares of the company’s stock, valued at approximately $5,917,000.

Other large investors also recently modified their holdings of the company. Artisan Partners Limited Partnership lifted its holdings in Lightspeed Commerce by 13.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,297,686 shares of the company’s stock valued at $111,232,000 after buying an additional 627,796 shares during the period. Vanguard Group Inc. raised its holdings in Lightspeed Commerce by 1.5% in the third quarter. Vanguard Group Inc. now owns 4,938,501 shares of the company’s stock worth $69,287,000 after purchasing an additional 72,890 shares during the period. Wellington Management Group LLP raised its holdings in Lightspeed Commerce by 19.0% in the third quarter. Wellington Management Group LLP now owns 2,674,070 shares of the company’s stock worth $37,517,000 after purchasing an additional 427,320 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lightspeed Commerce by 14.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,965,996 shares of the company’s stock worth $41,267,000 after purchasing an additional 246,741 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in Lightspeed Commerce by 365.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,348,120 shares of the company’s stock worth $28,317,000 after purchasing an additional 1,058,320 shares during the period. 68.68% of the stock is currently owned by institutional investors and hedge funds.

Lightspeed Commerce Stock Performance

Shares of NYSE LSPD traded up $0.09 during mid-day trading on Monday, reaching $14.63. 864,669 shares of the company were exchanged, compared to its average volume of 1,350,121. The company’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $15.69. The company has a quick ratio of 6.23, a current ratio of 6.34 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.24 billion, a P/E ratio of -13.64 and a beta of 2.35. Lightspeed Commerce Inc. has a twelve month low of $12.23 and a twelve month high of $21.71.

Analyst Upgrades and Downgrades

LSPD has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of Lightspeed Commerce from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, February 9th. National Bank Financial downgraded shares of Lightspeed Commerce from an “outperform market weight” rating to a “sector perform market weight” rating in a research report on Thursday, February 8th. BMO Capital Markets increased their price objective on shares of Lightspeed Commerce from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Piper Sandler lowered their price objective on shares of Lightspeed Commerce from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, May 20th. Finally, Barclays lowered their price objective on shares of Lightspeed Commerce from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.78.

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.