Insider Selling: LivePerson, Inc. (NASDAQ:LPSN) Major Shareholder Sells 955,412 Shares of Stock

Key Points

• Major shareholder Vector Capital Management, L.P. sold 955,412 shares of LivePerson stock at an average price of $0.99, reducing their ownership by 9.37%.
• Following the sale, Vector Capital still owns 9,237,053 shares valued at approximately $9.14 million.
• LivePerson's stock recently traded down to $0.95 with a market capitalization of $88.89 million, and it has seen significant activity from institutional investors, who currently own 79.83% of the shares.

LivePerson, Inc. (NASDAQ:LPSN - Get Free Report) major shareholder Vector Capital Management, L.P sold 955,412 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $0.99, for a total transaction of $945,857.88. Following the sale, the insider owned 9,237,053 shares in the company, valued at $9,144,682.47. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's shares 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 transaction of $247,720.48.

LivePerson Stock Performance

Shares of LPSN traded down $0.06 during mid-day trading on Thursday, reaching $0.95. The company had a trading volume of 1,889,047 shares, compared to its average volume of 7,972,699. The company's 50 day simple moving average is $0.94 and its 200 day simple moving average is $0.94. LivePerson, Inc. has a 1-year low of $0.61 and a 1-year high of $2.08. The company has a market capitalization of $88.89 million, a price-to-earnings ratio of -0.47 and a beta of 1.61.

Institutional Investors Weigh In On LivePerson

A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of LivePerson in the 2nd quarter valued at approximately $246,000. Virtu Financial LLC acquired a new stake in LivePerson during the 1st quarter worth approximately $26,000. Charles Schwab Investment Management Inc. boosted its position in LivePerson by 7.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 398,261 shares of the technology company's stock worth $318,000 after buying an additional 26,163 shares during the period. Two Sigma Advisers LP boosted its position in LivePerson by 42.0% during the 4th quarter. Two Sigma Advisers LP now owns 906,027 shares of the technology company's stock worth $1,377,000 after buying an additional 267,827 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in LivePerson by 146.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 73,794 shares of the technology company's stock worth $112,000 after buying an additional 43,804 shares during the period. 79.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LPSN shares. Wall Street Zen downgraded shares of LivePerson from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Needham & Company LLC restated a "hold" rating on shares of LivePerson in a research note on Thursday, May 8th.

LivePerson Company Profile

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.

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