Discovery Group I Raises Stake in LivePerson, Inc. (LPSN) to 5.3% - 13D

November 23, 2016 4:16 PM EST

Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.

In a 13D filing on LivePerson, Inc. (NASDAQ: LPSN), hedge fund Discovery Group I disclosed a 5.3%, or 3,047,583 share, stake in the company. This is up 970.41% from the 284,712 shares held at the end of the latest quarter ending September 30, 2016.

Purpose of Transaction

The Reporting Persons acquired beneficial ownership of the shares of Common Stock reported herein as part of their investment activities on behalf of Discovery Equity Partners. The Reporting Persons acquired the shares of Common Stock reported herein because they believe that the trading prices of the Common Stock do not adequately reflect the potential value of the Company’s underlying business and assets.

The Reporting Persons intend to review and evaluate their investment in the Common Stock on an ongoing basis and may, depending upon their evaluation of the business and prospects of the Company, or such other considerations as they may deem relevant, determine to increase, decrease, or dispose of their holdings of Common Stock. As a part of such review and evaluation, the Reporting Persons may hold discussions with the Company’s management and directors, other shareholders and other interested parties.

Except as otherwise described in this Item 4, the Reporting Persons do not have present plans or proposals that relate to or would result in any of the following (although the Reporting Persons reserve the right to develop such plans or proposals or any other plans relating to the Company and to take action with respect thereto): (i) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (ii) an extraordinary corporate transaction, such as a merger, reorganization, or liquidation, involving the Company or any of its subsidiaries; (iii) a sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (iv) any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (v) any material change in the present capitalization or dividend policy of the Company; (vi) any other material change in the Company’s business or corporate structure; (vii) changes in the Company’s certificate of incorporation, bylaws, or instruments corresponding thereto or other actions that may impede the acquisition of control of the Company by any person; (viii) causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (ix) a class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (x) any action similar to any of those enumerated above.

TRANSACTIONS DURING PAST 60 DAYS

The Reporting Persons engaged in the following transactions in shares of Common Stock of the Company during the past 60 days. Such transactions involved the purchase of shares on the NASDAQ Global Select Market. Certain of the prices reported below reflect the weighted average purchase price of the shares of Common Stock purchased on the relevant date. The Reporting Persons hereby undertake to provide upon request to the SEC staff full information regarding the number of shares and prices at which each transaction was effected.

Date Type Price Shares
9/26/2016 Purchase $ 8.34481 13554
9/26/2016 Purchase $ 8.34462 13400
9/27/2016 Purchase $ 8.40133 25700
9/27/2016 Purchase $ 8.39224 17800
9/28/2016 Purchase $ 8.47035 44837
9/29/2016 Purchase $ 8.45086 27600
9/30/2016 Purchase $ 8.44827 45000
10/3/2016 Purchase $ 8.47588 30626
10/4/2016 Purchase $ 8.49679 750
10/4/2016 Purchase $ 8.495710 5408
10/6/2016 Purchase $ 8.5000 500
10/6/2016 Purchase $ 8.493411 12000
10/7/2016 Purchase $ 8.447012 12051
10/11/2016 Purchase $ 8.5000 1000
10/11/2016 Purchase $ 8.477713 11000
10/12/2016 Purchase $ 8.476414 20800

10/13/2016 Purchase $ 8.425015 25000
10/14/2016 Purchase $ 8.404716 32500
10/17/2016 Purchase $ 8.417717 19232
10/18/2016 Purchase $ 8.404118 20500
10/19/2016 Purchase $ 8.413519 51200
10/20/2016 Purchase $ 8.456920 30910
10/21/2016 Purchase $ 8.462621 31033
10/24/2016 Purchase $ 8.5000 1100
10/25/2016 Purchase $ 8.493622 4500
10/26/2016 Purchase $ 8.491423 6335
10/27/2016 Purchase $ 8.5000 1000
10/27/2016 Purchase $ 8.493524 6089
10/28/2016 Purchase $ 8.493425 10222
10/31/2016 Purchase $ 8.319126 20038
11/1/2016 Purchase $ 8.322827 16806
11/2/2016 Purchase $ 8.264028 26900
11/3/2016 Purchase $ 8.249729 29948
11/14/2016 Purchase $ 8.597530 24400
11/15/2016 Purchase $ 8.614331 43700
11/16/2016 Purchase $ 8.690532 50000
11/17/2016 Purchase $ 8.604133 50000
11/18/2016 Purchase $ 8.542434 50000
11/21/2016 Purchase $ 8.502035 37400
11/22/2016 Purchase $ 8.560336 39000

For more notable holders of LivePerson, Inc. stock click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

13Ds, Hedge Funds

Related Entities

Discovery Equity Partners, 13D, Definitive Agreement

Add Your Comment