Insider Selling: LivePerson (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 LivePerson stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $0.99, for a total value of $945,857.88. Following the transaction, the insider owned 9,237,053 shares of the company's stock, valued at $9,144,682.47. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Tuesday, August 12th, Vector Capital Management, L.P sold 706,991 shares of LivePerson stock. The stock was sold at an average price of $1.02, for a total value of $721,130.82.
• 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.

LivePerson Trading Up 3.5%

Shares of NASDAQ:LPSN traded up $0.0350 during midday trading on Tuesday, reaching $1.0450. The company had a trading volume of 1,688,092 shares, compared to its average volume of 2,652,799. The stock has a market cap of $100.97 million, a P/E ratio of -0.52 and a beta of 1.61. The company's 50 day moving average price is $0.94 and its 200 day moving average price is $0.92. LivePerson, Inc. has a 52-week low of $0.6102 and a 52-week high of $2.08.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in shares of LivePerson during the first quarter valued at about $26,000. Marshall Wace LLP purchased a new position in shares of LivePerson during the 4th quarter worth approximately $57,000. Raymond James Financial Inc. bought a new position in shares of LivePerson in the 4th quarter worth approximately $66,000. LPL Financial LLC lifted its stake in shares of 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 purchasing an additional 33,021 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of LivePerson by 146.1% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 73,794 shares of the technology company's stock valued at $112,000 after purchasing an additional 43,804 shares in the last quarter. 79.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LPSN. Wall Street Zen downgraded shares of LivePerson from a "hold" rating to a "sell" rating in a report on Saturday. Needham & Company LLC restated a "hold" rating on shares of LivePerson in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $1.00.

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.