LivePerson, Inc. (NASDAQ:LPSN) Shares Sold by Sowell Financial Services LLC

Sowell Financial Services LLC cut its stake in shares of LivePerson, Inc. (NASDAQ:LPSN) by 37.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 753 shares of the technology company’s stock after selling 453 shares during the period. Sowell Financial Services LLC’s holdings in LivePerson were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of LPSN. Norges Bank acquired a new stake in shares of LivePerson during the fourth quarter worth $38,082,000. Nikko Asset Management Americas Inc. raised its position in LivePerson by 69.9% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,332,248 shares of the technology company’s stock worth $82,906,000 after acquiring an additional 547,892 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in LivePerson by 68.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,307,742 shares of the technology company’s stock worth $81,381,000 after acquiring an additional 529,310 shares in the last quarter. Mackenzie Financial Corp raised its position in LivePerson by 36.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,720,864 shares of the technology company’s stock worth $107,089,000 after acquiring an additional 455,845 shares in the last quarter. Finally, BlackRock Inc. raised its position in LivePerson by 4.5% in the fourth quarter. BlackRock Inc. now owns 9,634,647 shares of the technology company’s stock worth $599,566,000 after acquiring an additional 411,152 shares in the last quarter. 98.70% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on LivePerson in a research report on Wednesday, March 31st. They issued a “buy” rating and a $76.00 price objective for the company. Zacks Investment Research raised LivePerson from a “sell” rating to a “hold” rating in a research note on Thursday, April 29th. TheStreet lowered LivePerson from a “c-” rating to a “d+” rating in a research note on Wednesday, March 24th. Roth Capital increased their price objective on LivePerson from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 26th. They noted that the move was a valuation call. Finally, Needham & Company LLC raised their price target on LivePerson from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, February 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. LivePerson currently has an average rating of “Buy” and a consensus price target of $69.73.

In related news, Director Kevin Lavan sold 15,000 shares of the firm’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $51.83, for a total transaction of $777,450.00. Following the completion of the sale, the director now directly owns 21,000 shares of the company’s stock, valued at approximately $1,088,430. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander Spinelli sold 1,992 shares of the firm’s stock in a transaction on Monday, April 12th. The shares were sold at an average price of $56.13, for a total transaction of $111,810.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,017 shares of company stock worth $1,494,974. Corporate insiders own 10.70% of the company’s stock.

NASDAQ LPSN opened at $58.22 on Friday. The firm has a market cap of $4.01 billion, a price-to-earnings ratio of -42.50 and a beta of 1.13. LivePerson, Inc. has a 1-year low of $31.78 and a 1-year high of $72.23. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 2.10. The company has a 50-day moving average price of $54.66.

LivePerson (NASDAQ:LPSN) last released its quarterly earnings data on Tuesday, May 4th. The technology company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08. The business had revenue of $107.89 million for the quarter, compared to analyst estimates of $103.40 million. LivePerson had a negative return on equity of 36.51% and a negative net margin of 23.15%. On average, equities analysts expect that LivePerson, Inc. will post -1.45 earnings per share for the current fiscal year.

About LivePerson

LivePerson, Inc, together with its subsidiaries, provides conversational commerce solutions. The company operates in two segments, Business and Consumer. The Business segment enables brands to leverage LiveEngage's intelligence engine to connect with consumers through an integrated suite of mobile and online business messaging technologies.

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Institutional Ownership by Quarter for LivePerson (NASDAQ:LPSN)

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