Strs Ohio cut its stake in LivePerson, Inc. (NASDAQ:LPSN) by 11.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,300 shares of the technology company’s stock after selling 5,200 shares during the period. Strs Ohio’s holdings in LivePerson were worth $1,019,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in LivePerson by 1.7% in the second quarter. New York State Teachers Retirement System now owns 129,826 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 2,213 shares during the period. Advisory Services Network LLC purchased a new position in LivePerson in the second quarter valued at $108,000. BlueMountain Capital Management LLC boosted its holdings in LivePerson by 29.7% in the second quarter. BlueMountain Capital Management LLC now owns 23,280 shares of the technology company’s stock valued at $491,000 after purchasing an additional 5,336 shares during the period. Bank of Montreal Can purchased a new position in LivePerson in the second quarter valued at $139,000. Finally, Tower Research Capital LLC TRC purchased a new position in LivePerson in the second quarter valued at $156,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.
In other LivePerson news, CEO Robert P. Locascio sold 2,567 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $26.55, for a total value of $68,153.85. Following the sale, the chief executive officer now directly owns 316,239 shares in the company, valued at $8,396,145.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Daryl Carlough sold 1,223 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $26.55, for a total value of $32,470.65. Following the completion of the sale, the senior vice president now owns 12,719 shares in the company, valued at $337,689.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,256 shares of company stock worth $379,647. 11.50% of the stock is owned by insiders.
LivePerson (NASDAQ:LPSN) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.01. LivePerson had a negative return on equity of 3.34% and a negative net margin of 7.06%. The company had revenue of $61.66 million for the quarter, compared to analysts’ expectations of $59.46 million. During the same period last year, the firm earned $0.01 earnings per share. LivePerson’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts predict that LivePerson, Inc. will post -0.08 EPS for the current year.
A number of research analysts recently issued reports on LPSN shares. BidaskClub lowered LivePerson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. B. Riley lifted their target price on LivePerson from $19.25 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Needham & Company LLC lifted their target price on LivePerson from $20.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Roth Capital lifted their target price on LivePerson to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, Zacks Investment Research lowered LivePerson from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. LivePerson currently has a consensus rating of “Buy” and a consensus target price of $26.50.
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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