BlueMountain Capital Management LLC Has $491,000 Stake in LivePerson, Inc. (LPSN)

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BlueMountain Capital Management LLC boosted its holdings in LivePerson, Inc. (NASDAQ:LPSN) by 29.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,280 shares of the technology company’s stock after purchasing an additional 5,336 shares during the quarter. BlueMountain Capital Management LLC’s holdings in LivePerson were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Aperio Group LLC grew its position in shares of LivePerson by 10.5% in the 1st quarter. Aperio Group LLC now owns 78,962 shares of the technology company’s stock valued at $1,291,000 after purchasing an additional 7,503 shares during the period. Northern Trust Corp grew its position in shares of LivePerson by 0.7% in the 1st quarter. Northern Trust Corp now owns 709,726 shares of the technology company’s stock valued at $11,604,000 after purchasing an additional 4,905 shares during the period. BlackRock Inc. grew its position in shares of LivePerson by 2.3% in the 1st quarter. BlackRock Inc. now owns 7,149,331 shares of the technology company’s stock valued at $116,891,000 after purchasing an additional 159,993 shares during the period. Spark Investment Management LLC grew its position in shares of LivePerson by 188.1% in the 1st quarter. Spark Investment Management LLC now owns 110,900 shares of the technology company’s stock valued at $1,813,000 after purchasing an additional 72,400 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of LivePerson by 1.8% in the 1st quarter. New York State Common Retirement Fund now owns 184,407 shares of the technology company’s stock valued at $3,015,000 after purchasing an additional 3,233 shares during the period. Institutional investors and hedge funds own 78.84% of the company’s stock.

In other news, SVP Daryl Carlough sold 10,000 shares of LivePerson stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $24.01, for a total transaction of $240,100.00. Following the sale, the senior vice president now directly owns 23,154 shares of the company’s stock, valued at $555,927.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Locascio sold 2,567 shares of LivePerson stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $26.55, for a total value of $68,153.85. Following the sale, the chief executive officer now directly owns 316,239 shares in the company, valued at $8,396,145.45. The disclosure for this sale can be found here. Insiders sold 23,624 shares of company stock worth $566,860 over the last ninety days. 11.50% of the stock is currently owned by insiders.

LPSN has been the subject of a number of recent research reports. BidaskClub downgraded LivePerson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded LivePerson from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, June 28th. Roth Capital increased their price objective on LivePerson to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Needham & Company LLC increased their price objective on LivePerson from $20.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, B. Riley increased their price objective on LivePerson from $19.25 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $26.50.

Shares of LPSN traded up $0.51 during trading hours on Friday, hitting $21.87. 332,083 shares of the company were exchanged, compared to its average volume of 462,729. The firm has a market cap of $1.62 billion, a P/E ratio of -364.50 and a beta of 1.12. LivePerson, Inc. has a fifty-two week low of $10.80 and a fifty-two week high of $27.40.

LivePerson (NASDAQ:LPSN) last released its earnings results on Wednesday, August 1st. The technology company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $61.66 million for the quarter, compared to analyst estimates of $59.46 million. LivePerson had a negative return on equity of 3.34% and a negative net margin of 7.06%. LivePerson’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. As a group, equities analysts anticipate that LivePerson, Inc. will post -0.08 EPS for the current year.

About LivePerson

LivePerson, Inc engages in the provision of mobile and online messaging solutions. It operates through Business and Consumer segments. The Business segment enables brands to leverage 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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