Allspring Global Investments Holdings LLC Reduces Stock Position in LiveRamp Holdings, Inc. $RAMP

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in LiveRamp Holdings, Inc. (NYSE:RAMP) by 10.9%, selling 17,561 shares for a total of $4.75 million.
• Vanguard Group increased its holdings in LiveRamp by 3.2%, now owning over 9 million shares valued at approximately $238.69 million.
• Research analysts have a mixed outlook on LiveRamp, with ratings ranging from "strong buy" to "sell", and a current consensus price target of $40.83.

Allspring Global Investments Holdings LLC reduced its holdings in shares of LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 10.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,274 shares of the company's stock after selling 17,561 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of LiveRamp worth $4,751,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in LiveRamp by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 9,131,290 shares of the company's stock valued at $238,692,000 after acquiring an additional 283,747 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LiveRamp by 0.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,004,497 shares of the company's stock valued at $26,258,000 after purchasing an additional 8,537 shares in the last quarter. Boston Partners lifted its position in shares of LiveRamp by 15.3% during the first quarter. Boston Partners now owns 795,507 shares of the company's stock worth $20,664,000 after purchasing an additional 105,450 shares during the last quarter. Invenomic Capital Management LP grew its stake in LiveRamp by 49.8% in the first quarter. Invenomic Capital Management LP now owns 570,710 shares of the company's stock worth $14,918,000 after purchasing an additional 189,690 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in LiveRamp by 2.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 519,875 shares of the company's stock valued at $13,590,000 after buying an additional 11,689 shares during the last quarter. Institutional investors and hedge funds own 93.83% of the company's stock.

Insider Activity

In other news, CTO Mohsin Hussain sold 12,734 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $27.94, for a total transaction of $355,787.96. Following the transaction, the chief technology officer directly owned 63,409 shares of the company's stock, valued at approximately $1,771,647.46. This trade represents a 16.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.31% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on RAMP shares. Wall Street Zen raised LiveRamp from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Benchmark restated a "buy" rating and set a $51.00 price objective (up from $48.00) on shares of LiveRamp in a research note on Tuesday, August 5th. Zacks Research raised shares of LiveRamp from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. Morgan Stanley dropped their target price on shares of LiveRamp from $34.00 to $30.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 12th. Finally, DA Davidson began coverage on shares of LiveRamp in a report on Wednesday, July 9th. They issued a "buy" rating and a $45.00 price target for the company. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.83.

LiveRamp Trading Up 2.6%

Shares of NYSE:RAMP opened at $28.01 on Tuesday. The firm's 50 day moving average is $27.29 and its two-hundred day moving average is $29.15. The firm has a market capitalization of $1.84 billion, a P/E ratio of 127.31 and a beta of 0.90. LiveRamp Holdings, Inc. has a 52 week low of $22.82 and a 52 week high of $36.08.

LiveRamp (NYSE:RAMP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. LiveRamp had a return on equity of 2.21% and a net margin of 1.89%.The business had revenue of $194.82 million during the quarter, compared to the consensus estimate of $191.22 million. During the same period in the previous year, the firm posted $0.35 earnings per share. The business's revenue was up 10.7% on a year-over-year basis. Analysts predict that LiveRamp Holdings, Inc. will post 0.48 EPS for the current year.

LiveRamp Profile

LiveRamp Holdings, Inc, a technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally. The company operates LiveRamp Data Collaboration platform enables an organization to unify customer and prospect data to build a single view of the customer in a way that protects consumer privacy.

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