Vector Capital Management, L.P Sells 252,776 Shares of LivePerson (NASDAQ:LPSN) Stock

Key Points

• Vector Capital Management, L.P sold 252,776 shares of LivePerson, Inc. (NASDAQ:LPSN) at an average price of $0.98, resulting in a total transaction value of $247,720.48, decreasing their ownership stake by 2.74%.
• LivePerson's stock price hit $0.95 during midday trading, with a trading volume of 1,889,047 shares, and the company has a market capitalization of approximately $88.89 million.
• Recent analyst reports have resulted in a downgrade of LivePerson from a "hold" rating to a "sell," reflecting growing concerns about the company's financial performance.

LivePerson, Inc. (NASDAQ:LPSN - Get Free Report) major shareholder Vector Capital Management, L.P sold 252,776 shares of LivePerson stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $0.98, for a total value of $247,720.48. Following the completion of the transaction, the insider owned 8,984,277 shares of the company's stock, valued at approximately $8,804,591.46. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 shares were sold at an average price of $1.02, for a total transaction of $721,130.82.
• 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 transaction of $945,857.88.

LivePerson Price Performance

Shares of LPSN traded up $0.0350 during midday trading on Tuesday, reaching $1.0450. The stock had a trading volume of 1,688,092 shares, compared to its average volume of 2,652,799. The company has a market cap of $100.97 million, a price-to-earnings ratio of -0.52 and a beta of 1.61. The company's fifty day simple moving average is $0.94 and its two-hundred day simple moving average is $0.92. LivePerson, Inc. has a 1-year low of $0.6102 and a 1-year high of $2.08.

Institutional Investors Weigh In On LivePerson

A number of institutional investors have recently added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its stake in shares of LivePerson by 42.0% in the 4th quarter. Two Sigma Advisers LP now owns 906,027 shares of the technology company's stock valued at $1,377,000 after purchasing an additional 267,827 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of LivePerson in the second quarter worth $246,000. Bridgeway Capital Management LLC purchased a new position in shares of LivePerson in the 4th quarter valued at $152,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of LivePerson by 146.1% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 73,794 shares of the technology company's stock valued at $112,000 after acquiring an additional 43,804 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of LivePerson during the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 79.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LPSN. Wall Street Zen downgraded LivePerson from a "hold" rating to a "sell" rating in a report on Saturday. Needham & Company LLC reiterated a "hold" rating on shares of LivePerson in a research report on Thursday, May 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $1.00.

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.