Oppenheimer & Co. Inc. Reduces Holdings in LivePerson, Inc. (NASDAQ:LPSN)
Oppenheimer & Co. Inc. decreased its position in shares of LivePerson, Inc. (NASDAQ:LPSN) by 42.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,439 shares of the technology company’s stock after selling 6,961 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in LivePerson were worth $265,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the business. FMR LLC grew its stake in LivePerson by 1.5% in the 1st quarter. FMR LLC now owns 3,678,554 shares of the technology company’s stock valued at $106,752,000 after buying an additional 52,606 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its stake in LivePerson by 10.7% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 3,381,722 shares of the technology company’s stock worth $98,138,000 after purchasing an additional 327,580 shares during the period. Artisan Partners Limited Partnership grew its stake in LivePerson by 87.0% in the first quarter. Artisan Partners Limited Partnership now owns 1,464,855 shares of the technology company’s stock worth $42,510,000 after purchasing an additional 681,616 shares during the period. Janus Henderson Group PLC grew its stake in LivePerson by 7.9% in the second quarter. Janus Henderson Group PLC now owns 1,042,673 shares of the technology company’s stock worth $29,237,000 after purchasing an additional 76,122 shares during the period. Finally, Granite Investment Partners LLC grew its stake in LivePerson by 81.0% in the second quarter. Granite Investment Partners LLC now owns 851,453 shares of the technology company’s stock worth $23,875,000 after purchasing an additional 381,159 shares during the period. 87.71% of the stock is currently owned by institutional investors.
In related news, EVP Monica L. Greenberg sold 23,601 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $27.29, for a total transaction of $644,071.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kevin Lavan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.40, for a total value of $486,000.00. Following the sale, the director now directly owns 21,000 shares of the company’s stock, valued at $680,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,750 shares of company stock valued at $1,162,318. Company insiders own 9.70% of the company’s stock.
LivePerson (NASDAQ:LPSN) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.11). The firm had revenue of $71.00 million for the quarter, compared to analysts’ expectations of $70.16 million. LivePerson had a negative net margin of 21.09% and a negative return on equity of 22.65%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, analysts predict that LivePerson, Inc. will post -0.72 EPS for the current year.
A number of research firms have recently commented on LPSN. Berenberg Bank began coverage on LivePerson in a research note on Thursday, May 16th. They issued a “buy” rating and a $40.00 target price on the stock. KeyCorp increased their target price on LivePerson from $39.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Needham & Company LLC increased their target price on LivePerson to $40.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Craig Hallum increased their target price on LivePerson from $34.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group increased their target price on LivePerson to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.13.
LivePerson, Inc provides conversational commerce solutions. The company operates in two segments, Business and Consumer. The Business segment enables brands to leverage LiveEngage's intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.
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