Vector Capital Management, L.P Sells 706,991 Shares of LivePerson (NASDAQ:LPSN) Stock

Key Points

• Major shareholder Vector Capital Management, L.P. sold 706,991 shares of LivePerson, Inc. for $721,130.82, reducing their ownership by 6.49% to approximately 10.19 million shares.
• LivePerson shares have been trading around $0.95, with a 52-week range from $0.61 to $2.08 and a market cap of $88.89 million.
• Recent analyst ratings include a downgrade from Needham & Company to a "sell" by Wall Street Zen, indicating a cautious outlook on the company's stock.

LivePerson, Inc. (NASDAQ:LPSN - Get Free Report) major shareholder Vector Capital Management, L.P sold 706,991 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $1.02, for a total transaction of $721,130.82. Following the transaction, the insider directly owned 10,192,465 shares in the company, valued at $10,396,314.30. This trade represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Vector Capital Management, L.P also recently made the following trade(s):

• On Thursday, August 14th, Vector Capital Management, L.P sold 252,776 shares of LivePerson stock. The stock was sold at an average price of $0.98, for a total value of $247,720.48.
• On Wednesday, August 13th, Vector Capital Management, L.P sold 955,412 shares of LivePerson stock. The stock was sold at an average price of $0.99, for a total value of $945,857.88.

LivePerson Trading Up 1.4%

LPSN stock traded up $0.0150 during midday trading on Wednesday, hitting $1.0550. The stock had a trading volume of 1,002,960 shares, compared to its average volume of 2,644,856. The firm has a market capitalization of $101.93 million, a price-to-earnings ratio of -0.53 and a beta of 1.61. LivePerson, Inc. has a 52 week low of $0.6102 and a 52 week high of $2.08. The stock has a 50-day simple moving average of $0.95 and a 200 day simple moving average of $0.93.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of LivePerson in a research report on Thursday, May 8th. Wall Street Zen cut LivePerson from a "hold" rating to a "sell" rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of LivePerson in the first quarter valued at about $26,000. Marshall Wace LLP bought a new position in LivePerson in the 4th quarter valued at $57,000. Raymond James Financial Inc. bought a new position in LivePerson in the 4th quarter valued at $66,000. LPL Financial LLC boosted its position in LivePerson by 140.2% in the 4th quarter. LPL Financial LLC now owns 56,571 shares of the technology company's stock valued at $86,000 after buying an additional 33,021 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in LivePerson by 146.1% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 73,794 shares of the technology company's stock valued at $112,000 after buying an additional 43,804 shares during the last quarter. 79.83% of the stock is owned by institutional investors.

About LivePerson

LivePerson, Inc engages in conversational artificial intelligence. It enables brands to leverage the Conversational Cloud's intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies. The company offers the Conversational Cloud, an enterprise-class digital customer conversation platform, which enables businesses and consumers to connect through conversational channels, such as voice, in-app, and mobile messaging.