Renaissance Technologies LLC Has $23.12 Million Stake in LivePerson, Inc. (LPSN)
Renaissance Technologies LLC grew its stake in LivePerson, Inc. (NASDAQ:LPSN) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,102,100 shares of the technology company’s stock after purchasing an additional 332,300 shares during the period. Renaissance Technologies LLC owned approximately 3.57% of LivePerson worth $23,123,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. EAM Investors LLC bought a new stake in shares of LivePerson in the 2nd quarter valued at approximately $4,207,000. Parametric Portfolio Associates LLC lifted its stake in shares of LivePerson by 62.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 250,218 shares of the technology company’s stock valued at $2,752,000 after purchasing an additional 96,447 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of LivePerson by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,851,914 shares of the technology company’s stock valued at $53,371,000 after purchasing an additional 125,629 shares during the last quarter. Northern Trust Corp lifted its stake in shares of LivePerson by 7.6% in the 2nd quarter. Northern Trust Corp now owns 754,961 shares of the technology company’s stock valued at $8,304,000 after purchasing an additional 53,317 shares during the last quarter. Finally, Menta Capital LLC lifted its stake in shares of LivePerson by 74.6% in the 2nd quarter. Menta Capital LLC now owns 181,217 shares of the technology company’s stock valued at $1,993,000 after purchasing an additional 77,415 shares during the last quarter. 74.85% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on LPSN. Needham & Company LLC began coverage on LivePerson in a research note on Thursday, September 21st. They issued a “buy” rating and a $16.00 price objective for the company. Northland Securities reaffirmed a “buy” rating and issued a $15.00 price objective on shares of LivePerson in a research note on Friday, September 1st. Zacks Investment Research raised LivePerson from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of LivePerson in a research note on Wednesday, August 9th. Finally, Roth Capital raised their price objective on LivePerson from $10.00 to $15.00 in a research note on Tuesday, June 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $12.84.
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Shares of LivePerson, Inc. (NASDAQ:LPSN) opened at 14.45 on Tuesday. The stock has a 50 day moving average price of $13.58 and a 200 day moving average price of $10.95. The stock’s market capitalization is $851.11 million. LivePerson, Inc. has a one year low of $5.43 and a one year high of $14.85.
LivePerson (NASDAQ:LPSN) last issued its earnings results on Wednesday, July 26th. The technology company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). LivePerson had a negative return on equity of 8.71% and a negative net margin of 13.29%. The company had revenue of $54.10 million for the quarter, compared to analyst estimates of $51.33 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities analysts forecast that LivePerson, Inc. will post $0.10 earnings per share for the current year.
In related news, EVP Dustin Dean sold 2,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $11.73, for a total value of $28,152.00. Following the transaction, the executive vice president now directly owns 70,987 shares in the company, valued at $832,677.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Richard Murphy sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $13.71, for a total value of $31,533.00. Following the completion of the transaction, the chief financial officer now owns 84,678 shares in the company, valued at $1,160,935.38. The disclosure for this sale can be found here. Insiders sold 162,774 shares of company stock worth $1,963,593 over the last quarter. 11.70% of the stock is currently owned by insiders.
LivePerson, Inc (Liveperson) is a provider of mobile and online business messaging technologies that power digital communication between brands and consumers. The Company’s segments include Business and Consumer. The Business segment enables brands to leverage its cloud-based LiveEngage’s intelligence engine.
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