LivePerson, Inc. (LPSN) Stake Lowered by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership decreased its position in LivePerson, Inc. (NASDAQ:LPSN) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,787 shares of the technology company’s stock after selling 26,796 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.33% of LivePerson worth $2,121,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. BlueCrest Capital Management Ltd bought a new position in shares of LivePerson in the second quarter valued at approximately $131,000. State Street Corp raised its position in shares of LivePerson by 6.1% in the second quarter. State Street Corp now owns 1,292,357 shares of the technology company’s stock valued at $14,219,000 after purchasing an additional 74,645 shares during the period. ETF Managers Group LLC bought a new position in shares of LivePerson in the second quarter valued at approximately $214,000. Intrinsic Edge Capital Management LLC bought a new position in shares of LivePerson in the second quarter valued at approximately $1,980,000. Finally, AHL Partners LLP bought a new position in shares of LivePerson in the second quarter valued at approximately $414,000. 74.85% of the stock is currently owned by institutional investors.
In other LivePerson news, EVP Dustin Dean sold 2,500 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $14.35, for a total transaction of $35,875.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Locascio sold 2,572 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $13.66, for a total value of $35,133.52. Following the transaction, the chief executive officer now owns 76,435 shares in the company, valued at approximately $1,044,102.10. The disclosure for this sale can be found here. Insiders have sold a total of 160,374 shares of company stock worth $1,935,441 in the last quarter. Company insiders own 11.40% of the company’s stock.
LPSN has been the topic of a number of recent analyst reports. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $17.50 target price (up previously from $15.00) on shares of LivePerson in a research report on Tuesday, October 10th. Benchmark Co. boosted their target price on shares of LivePerson from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Needham & Company LLC initiated coverage on shares of LivePerson in a research report on Thursday, September 21st. They set a “buy” rating and a $16.00 target price on the stock. Northland Securities reaffirmed a “buy” rating and set a $15.00 target price on shares of LivePerson in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of LivePerson from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.92.
Shares of LivePerson, Inc. (LPSN) opened at 14.40 on Friday. The firm has a 50-day moving average of $13.98 and a 200 day moving average of $11.34. LivePerson, Inc. has a one year low of $5.43 and a one year high of $15.10. The company’s market cap is $848.16 million.
LivePerson (NASDAQ:LPSN) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $54.10 million for the quarter, compared to the consensus estimate of $51.33 million. LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) EPS. Equities research analysts anticipate that LivePerson, Inc. will post $0.10 EPS for the current year.
LivePerson Company Profile
LivePerson, Inc (Liveperson) is a provider of mobile and online business messaging technologies that power digital communication between brands and consumers. The Company’s segments include Business and Consumer. The Business segment enables brands to leverage its cloud-based LiveEngage’s intelligence engine.
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