Northern Trust Corp boosted its position in LivePerson, Inc. (NASDAQ:LPSN) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 740,937 shares of the technology company’s stock after buying an additional 31,211 shares during the quarter. Northern Trust Corp’s holdings in LivePerson were worth $15,634,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. New York State Teachers Retirement System lifted its holdings in LivePerson by 1.7% in the 2nd quarter. New York State Teachers Retirement System now owns 129,826 shares of the technology company’s stock worth $2,739,000 after buying an additional 2,213 shares in the last quarter. Advisory Services Network LLC acquired a new position in LivePerson in the 2nd quarter worth $108,000. BlueMountain Capital Management LLC lifted its holdings in LivePerson by 29.7% in the 2nd quarter. BlueMountain Capital Management LLC now owns 23,280 shares of the technology company’s stock worth $491,000 after buying an additional 5,336 shares in the last quarter. Bank of Montreal Can acquired a new position in LivePerson in the 2nd quarter worth $139,000. Finally, Tower Research Capital LLC TRC acquired a new position in LivePerson in the 2nd quarter worth $156,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.
LPSN has been the topic of a number of recent analyst reports. BidaskClub lowered shares of LivePerson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. B. Riley boosted their price objective on shares of LivePerson from $19.25 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Needham & Company LLC boosted their price objective on shares of LivePerson from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Roth Capital boosted their price objective on shares of LivePerson to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research lowered shares of LivePerson from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $26.50.
LivePerson (NASDAQ:LPSN) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $61.66 million for the quarter, compared to analyst estimates of $59.46 million. LivePerson had a negative net margin of 7.06% and a negative return on equity of 3.34%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.01 EPS. As a group, equities research analysts forecast that LivePerson, Inc. will post -0.08 EPS for the current year.
In other news, CEO Robert P. Locascio sold 2,567 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $26.55, for a total value of $68,153.85. Following the sale, the chief executive officer now owns 316,239 shares in the company, valued at approximately $8,396,145.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Daryl Carlough sold 10,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $24.01, for a total transaction of $240,100.00. Following the completion of the sale, the senior vice president now owns 23,154 shares in the company, valued at approximately $555,927.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,256 shares of company stock worth $379,647. Company insiders own 11.50% of the company’s stock.
LivePerson, Inc provides mobile and online business messaging solutions that power digital communication between brands and consumers. It operates in two segments, Business and Consumer. The Business segment facilitates real-time online interactions, such as chat, voice, and content delivery across multiple channels and screens for corporations of various sizes.
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