Millennium Management LLC Trims Stake in LivePerson, Inc. (LPSN)

Millennium Management LLC decreased its holdings in shares of LivePerson, Inc. (NASDAQ:LPSN) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,400 shares of the technology company’s stock after selling 48,456 shares during the period. Millennium Management LLC’s holdings in LivePerson were worth $6,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of LivePerson in the second quarter worth about $108,000. Bank of Montreal Can acquired a new position in shares of LivePerson in the second quarter worth about $139,000. Tower Research Capital LLC TRC acquired a new position in shares of LivePerson in the second quarter worth about $156,000. SG Americas Securities LLC acquired a new position in shares of LivePerson in the second quarter worth about $165,000. Finally, Profund Advisors LLC acquired a new position in shares of LivePerson in the first quarter worth about $170,000. Institutional investors own 78.84% of the company’s stock.

Shares of LPSN opened at $21.87 on Friday. LivePerson, Inc. has a one year low of $10.80 and a one year high of $27.40. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -364.50 and a beta of 1.12.

LivePerson (NASDAQ:LPSN) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $61.66 million during 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 firm’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. Sell-side analysts predict that LivePerson, Inc. will post -0.08 EPS for the current year.

Several brokerages have commented on LPSN. Roth Capital raised their target price on shares of LivePerson to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 31st. Needham & Company LLC raised their target price on shares of LivePerson from $20.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. BidaskClub upgraded shares of LivePerson from a “hold” rating to a “buy” rating in a report on Thursday, July 19th. B. Riley raised their target price on shares of LivePerson from $19.25 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of LivePerson from a “buy” rating to a “hold” rating in a report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $26.50.

In other news, CEO Robert P. Locascio sold 2,567 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $26.55, for a total value of $68,153.85. Following the completion of the sale, the chief executive officer now directly owns 316,239 shares of the company’s stock, valued at $8,396,145.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monica L. Greenberg sold 1,466 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $26.55, for a total transaction of $38,922.30. Following the completion of the sale, the executive vice president now directly owns 39,849 shares of the company’s stock, valued at $1,057,990.95. The disclosure for this sale can be found here. Insiders sold 23,624 shares of company stock valued at $566,860 over the last three months. 11.50% of the stock is owned by insiders.

LivePerson Company Profile

LivePerson, Inc engages in the provision of mobile and online messaging solutions. It operates through Business and Consumer segments. The Business segment enables brands to leverage intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.

Further Reading: NASDAQ

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Institutional Ownership by Quarter for LivePerson (NASDAQ:LPSN)

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