LivePerson, Inc. (LPSN) Stake Lessened by Castleark Management LLC

Castleark Management LLC decreased its holdings in shares of LivePerson, Inc. (NASDAQ:LPSN) by 61.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,514 shares of the technology company’s stock after selling 174,225 shares during the period. Castleark Management LLC owned about 0.17% of LivePerson worth $2,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of LivePerson during the 4th quarter worth about $327,000. Texas Permanent School Fund increased its position in shares of LivePerson by 5.7% during the 4th quarter. Texas Permanent School Fund now owns 38,179 shares of the technology company’s stock worth $720,000 after purchasing an additional 2,053 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of LivePerson by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 829,459 shares of the technology company’s stock worth $15,645,000 after purchasing an additional 59,457 shares during the last quarter. Altshuler Shaham Ltd increased its position in shares of LivePerson by 75.2% during the 4th quarter. Altshuler Shaham Ltd now owns 915,187 shares of the technology company’s stock worth $16,971,000 after purchasing an additional 392,679 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of LivePerson by 2.6% during the 4th quarter. BlackRock Inc. now owns 8,669,909 shares of the technology company’s stock worth $163,516,000 after purchasing an additional 216,190 shares during the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

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A number of analysts recently issued reports on the company. Zacks Investment Research downgraded LivePerson from a “hold” rating to a “sell” rating in a research report on Tuesday, November 20th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of LivePerson in a research report on Friday, February 22nd. BidaskClub raised LivePerson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 29th. Finally, B. Riley set a $32.00 price objective on LivePerson and gave the stock a “buy” rating in a research report on Friday, November 9th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. LivePerson has an average rating of “Buy” and an average target price of $28.73.

Shares of NASDAQ:LPSN opened at $27.45 on Friday. The stock has a market cap of $1.74 billion, a P/E ratio of -119.35 and a beta of 1.06. LivePerson, Inc. has a 12-month low of $14.81 and a 12-month high of $28.70.

LivePerson (NASDAQ:LPSN) last released its earnings results on Thursday, February 21st. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $65.72 million during the quarter, compared to analyst estimates of $64.91 million. LivePerson had a negative net margin of 10.02% and a negative return on equity of 5.67%. Analysts predict that LivePerson, Inc. will post -0.41 earnings per share for the current fiscal year.

In other LivePerson news, CEO Robert P. Locascio sold 45,837 shares of LivePerson stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $18.06, for a total value of $827,816.22. Following the completion of the transaction, the chief executive officer now directly owns 266,997 shares of the company’s stock, valued at approximately $4,821,965.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Locascio sold 3,405 shares of LivePerson stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $18.82, for a total value of $64,082.10. Following the completion of the transaction, the chief executive officer now directly owns 312,834 shares of the company’s stock, valued at $5,887,535.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,472 shares of company stock valued at $953,572. 11.50% of the stock is currently owned by corporate insiders.

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LivePerson Company Profile

LivePerson, Inc provides mobile and online business messaging solutions that power digital communication between brands and consumers. It operates in two segments, Business and Consumer. The Business segment facilitates real-time online interactions, such as chat, voice, and content delivery across multiple channels and screens for corporations of various sizes.

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