Bruce Edward Hansen, a director at LivePerson Inc. (NASDAQ:LPSN), recently sold 84,944 shares of the company’s common stock. The transactions, conducted on December 11, 2024, were made under a pre-established Rule 10b5-1 trading plan. The shares were sold at a weighted average price of $0.85 per share, generating total proceeds of approximately $72,202.
The sales were executed in multiple transactions at prices ranging from $0.83 to $0.89 per share. Following these transactions, Hansen no longer holds any shares of LivePerson directly. For investors seeking deeper insights, InvestingPro offers 13 additional key tips and a comprehensive Pro Research Report, providing crucial analysis of LivePerson's financial position and market outlook. The trading plan under Rule 10b5-1 allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest.
In other recent news, LivePerson Inc. has reported Q2 2024 earnings, with revenue reaching $79.9 million and an adjusted EBITDA of $8.2 million, surpassing expectations. However, the company noted a year-over-year decline in B2B hosted services revenue and core recurring revenue by 17% and 18% respectively. LivePerson also announced the departure of its Chief Product & Technology Officer, Alex Kroman, at the end of the year, with a search for his replacement currently underway.
In other significant updates, LivePerson has expanded its stock incentive and employee stock purchase plans, following approval from shareholders. The company has also entered into a cooperation agreement with Vector Capital Management, its largest shareholder, and nominated Dan Fletcher, CFO of Planful, for election to the board. In a cost-saving measure, LivePerson divested Wild Health, resulting in savings of $3 to $5 million in expenses.
Lastly, LivePerson plans to raise new capital to reduce debt, despite an expected sequential revenue decline. The company ended the quarter with $146 million in cash and anticipates improvements in new annual recurring revenue. These are some of the recent developments shaping the trajectory of LivePerson.
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