LivePerson, Inc. (LPSN) Sees Large Decrease in Short Interest
LivePerson, Inc. (NASDAQ:LPSN) was the target of a significant decline in short interest in August. As of August 15th, there was short interest totalling 545,670 shares, a decline of 41.4% from the July 31st total of 930,565 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average trading volume of 353,260 shares, the short-interest ratio is presently 1.5 days.
In other news, CEO Robert P. Locascio sold 2,892 shares of LivePerson stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $11.45, for a total value of $33,113.40. Following the sale, the chief executive officer now owns 79,007 shares of the company’s stock, valued at $904,630.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Dustin Dean sold 2,400 shares of LivePerson stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $11.73, for a total transaction of $28,152.00. Following the completion of the sale, the executive vice president now directly owns 70,987 shares in the company, valued at approximately $832,677.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,183 shares of company stock worth $1,256,549. Insiders own 11.70% of the company’s stock.
Several institutional investors have recently bought and sold shares of LPSN. Piedmont Investment Advisors LLC bought a new position in LivePerson during the second quarter valued at about $128,000. Castleark Management LLC bought a new position in LivePerson during the second quarter valued at about $4,775,000. The Manufacturers Life Insurance Company raised its position in LivePerson by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 43,917 shares of the technology company’s stock valued at $483,000 after buying an additional 1,285 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in LivePerson during the second quarter valued at about $131,000. Finally, State Street Corp raised its position in 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 buying an additional 74,645 shares during the last quarter. Institutional investors own 74.86% of the company’s stock.
Several analysts have recently weighed in on LPSN shares. Craig Hallum raised shares of LivePerson from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.60 to $8.85 in a report on Thursday, May 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of LivePerson in a research note on Thursday, May 11th. Benchmark Co. raised their price objective on shares of LivePerson from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 12th. Zacks Investment Research upgraded shares of LivePerson from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, May 17th. Finally, TheStreet upgraded shares of LivePerson from a “d+” rating to a “c” rating in a research note on Friday, May 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. LivePerson currently has a consensus rating of “Buy” and a consensus price target of $12.14.
Shares of LivePerson (NASDAQ LPSN) opened at 12.85 on Tuesday. LivePerson has a 52 week low of $5.43 and a 52 week high of $14.05. The firm’s market cap is $756.87 million. The company has a 50 day moving average of $12.48 and a 200 day moving average of $9.44.
LivePerson (NASDAQ:LPSN) last posted its earnings results on Wednesday, July 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $54.10 million for the quarter, compared to analyst estimates of $51.33 million. LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. LivePerson’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities research analysts anticipate that LivePerson will post $0.10 EPS for the current fiscal 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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