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Shannon River Fund Management Boosts Stake In LivePerson Inc. (LPSN)

In its latest filing with the U.S. Securities and Exchange Commission, Shannon River Fund Management, managed by Spencer M. Waxman, disclosed a 5.4% passive stake in LivePerson Inc. (NASDAQ:LPSN). According to the filing, Waxman currently owns 2.89 million shares of the company’s common stock. The stake represents an increase from 1.97 million shares the fund reported in its 13F filing.

Liveperson, Inc. (NASDAQ:LPSN)

LivePerson Inc. (NASDAQ:LPSN) is a provider of live digital engagement solutions, and has a market cap of $685.1 million. For the second quarter ended June 30, 2014, the company reported a net loss of $1.2 million, or $0.02 per share, compared to net loss of $1.8 million, or $0.03 per share, in the same quarter last year. It posted adjusted EBITDA for the second quarter of $5.0 million, or $0.09 per share, compared to $3.4 million, or $0.06 per share, in the same period a year ago. The company’s bookings for the quarter were $10.8 million, up from $7.1 million in the second quarter of 2013, according to a press release.

In June, LivePerson, Inc. (NASDAQ: LPSN) announced that it had agreed to acquire Germany-based startup, Synchronite LLC, which is engaged in providing co-browsing technology.

Other large shareholders of LivePerson, Inc. (NASDAQ: LPSN) include Cadian Capital, led by Eric Bannasch, which revealed, in its recent 13F filing, that it owns 1.62 million shares of the company. Another hedge fund owning a big stake in LivePerson, Inc. (NASDAQ: LPSN) is Jim Simons’ Renaissance Technologies, which holds 516,000 shares of the company.

Shannon River Fund is based in New York City. For the second quarter of 2014, the market value of the fund’s equity portfolio totaled about $1.9 billion. Shannon River Fund mainly invests in technology and services stocks. It’s largest stake is in WebMD Health Corp. (NASDAQ:WBMD), which provides health information services. The fund holds 1.77 million shares of the company. The second largest holding for the second quarter was in IAC/InterActiveCorp. (NASDAQ:IACI), in which Shannon River disclosed owning 1.15 million shares.

Disclosure: none

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