Bank of Montreal Can acquired a new position in LivePerson, Inc. (NASDAQ:LPSN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,625 shares of the technology company’s stock, valued at approximately $139,000.
A number of other hedge funds have also recently made changes to their positions in LPSN. Profund Advisors LLC acquired a new position in shares of LivePerson during the 1st quarter worth about $170,000. Algert Global LLC acquired a new position in shares of LivePerson during the 1st quarter worth about $214,000. Xact Kapitalforvaltning AB acquired a new position in shares of LivePerson during the 2nd quarter worth about $262,000. Suntrust Banks Inc. acquired a new position in shares of LivePerson during the 1st quarter worth about $423,000. Finally, ETF Managers Group LLC acquired a new position in shares of LivePerson during the 1st quarter worth about $605,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.
Shares of LPSN opened at $26.65 on Friday. LivePerson, Inc. has a 52-week low of $10.80 and a 52-week high of $26.90. The company has a market capitalization of $1.64 billion, a P/E ratio of -443.33 and a beta of 1.02.
LivePerson (NASDAQ:LPSN) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. LivePerson had a negative return on equity of 3.34% and a negative net margin of 7.06%. The business had revenue of $61.66 million during the quarter, compared to analyst estimates of $59.46 million. During the same period in the previous year, the firm earned $0.01 EPS. LivePerson’s quarterly revenue was up 14.0% compared to the same quarter last year. research analysts anticipate that LivePerson, Inc. will post -0.08 earnings per share for the current fiscal year.
In related news, CFO Daniel Richard Murphy sold 73,814 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $21.47, for a total value of $1,584,786.58. Following the completion of the transaction, the chief financial officer now directly owns 23,814 shares in the company, valued at approximately $511,286.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert P. Locascio sold 2,385 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $23.80, for a total value of $56,763.00. Following the completion of the transaction, the chief executive officer now owns 318,806 shares of the company’s stock, valued at $7,587,582.80. The disclosure for this sale can be found here. Insiders sold a total of 166,282 shares of company stock valued at $3,570,976 over the last quarter. 11.50% of the stock is owned by insiders.
LPSN has been the subject of several analyst reports. Roth Capital boosted their target price on LivePerson to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. BidaskClub upgraded LivePerson from a “hold” rating to a “buy” rating in a research report on Thursday, July 19th. LADENBURG THALM/SH SH restated a “buy” rating and set a $24.00 target price on shares of LivePerson in a research report on Wednesday, June 6th. Needham & Company LLC boosted their target price on LivePerson from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded LivePerson from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Friday, June 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.29.
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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