The Manufacturers Life Insurance Company decreased its position in LivePerson, Inc. (NASDAQ:LPSN) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,559 shares of the technology company’s stock after selling 751 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of LivePerson worth $1,849,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Freestone Capital Holdings LLC purchased a new stake in shares of LivePerson in the 3rd quarter worth about $31,000. Acadian Asset Management LLC bought a new stake in LivePerson during the third quarter worth about $56,000. Nisa Investment Advisors LLC purchased a new stake in LivePerson in the third quarter worth about $78,000. Harvest Fund Management Co. Ltd increased its stake in shares of LivePerson by 207.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,982 shares of the technology company’s stock valued at $106,000 after purchasing an additional 1,337 shares in the last quarter. Finally, NEXT Financial Group Inc purchased a new position in shares of LivePerson during the third quarter valued at approximately $118,000. 95.79% of the stock is owned by institutional investors and hedge funds.
In related news, CFO John Deneen Collins sold 504 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $53.47, for a total transaction of $26,948.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Wesemann sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $57.50, for a total transaction of $143,750.00. Following the completion of the transaction, the director now directly owns 150,000 shares of the company’s stock, valued at approximately $8,625,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,422 shares of company stock worth $459,463. Insiders own 10.70% of the company’s stock.
Several brokerages have recently weighed in on LPSN. Needham & Company LLC raised their price target on LivePerson from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, October 30th. BidaskClub upgraded shares of LivePerson from a “hold” rating to a “buy” rating in a research note on Wednesday, October 14th. Mizuho raised their price objective on LivePerson from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, October 30th. B. Riley increased their price target on LivePerson from $66.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Finally, Zacks Investment Research downgraded LivePerson from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.43.
LPSN opened at $56.69 on Friday. The firm has a market cap of $3.79 billion, a P/E ratio of -30.48 and a beta of 1.46. The business’s fifty day simple moving average is $56.25 and its 200 day simple moving average is $48.89. LivePerson, Inc. has a 52 week low of $14.08 and a 52 week high of $63.90. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.51.
LivePerson (NASDAQ:LPSN) last released its quarterly earnings results on Thursday, October 29th. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.14. The company had revenue of $94.80 million for the quarter, compared to analysts’ expectations of $92.67 million. LivePerson had a negative net margin of 35.41% and a negative return on equity of 60.48%. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the company earned ($0.17) EPS. As a group, equities analysts expect that LivePerson, Inc. will post -1.09 EPS for the current fiscal year.
LivePerson, Inc engages in the provision of mobile and online messaging solutions. It operates through the following segments: Business, Consumer, and Corporate. The Business segment enables brands to leverage intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.
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