Assenagon Asset Management S.A. Sells 70,967 Shares of LiveRamp Holdings, Inc. $RAMP

Key Points

• Assenagon Asset Management S.A. reduced its stake in LiveRamp Holdings, Inc. by 28.8%, selling 70,967 shares, leaving it with a total of 175,262 shares valued at approximately $5.79 million.
• Despite this decrease, institutional investors own about 93.83% of LiveRamp’s stock, indicating strong institutional interest in the company.
• LiveRamp reported an EPS of $0.44 for the last quarter, surpassing analysts' estimates, and its revenue increased 10.7% year-over-year, amounting to $194.82 million.

Assenagon Asset Management S.A. cut its holdings in LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 28.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,262 shares of the company's stock after selling 70,967 shares during the period. Assenagon Asset Management S.A. owned approximately 0.27% of LiveRamp worth $5,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Exchange Traded Concepts LLC raised its position in shares of LiveRamp by 2.2% in the 2nd quarter. Exchange Traded Concepts LLC now owns 29,466 shares of the company's stock worth $974,000 after acquiring an additional 622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of LiveRamp by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,234 shares of the company's stock valued at $999,000 after buying an additional 677 shares during the period. Azzad Asset Management Inc. ADV grew its stake in shares of LiveRamp by 3.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 22,870 shares of the company's stock valued at $598,000 after buying an additional 695 shares during the period. Empowered Funds LLC grew its stake in shares of LiveRamp by 12.9% in the 1st quarter. Empowered Funds LLC now owns 8,164 shares of the company's stock valued at $213,000 after buying an additional 936 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of LiveRamp by 63.0% in the 1st quarter. Blue Trust Inc. now owns 2,558 shares of the company's stock valued at $67,000 after buying an additional 989 shares during the period. 93.83% of the stock is owned by institutional investors.

LiveRamp Stock Down 1.9%

Shares of NYSE RAMP opened at $27.85 on Wednesday. LiveRamp Holdings, Inc. has a twelve month low of $22.82 and a twelve month high of $36.08. The stock's 50 day moving average price is $28.93 and its 200-day moving average price is $28.99. The company has a market capitalization of $1.83 billion, a PE ratio of 126.60 and a beta of 0.92.

LiveRamp (NYSE:RAMP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The company had revenue of $194.82 million for the quarter, compared to analysts' expectations of $191.22 million. LiveRamp had a net margin of 1.89% and a return on equity of 2.21%. LiveRamp's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. As a group, research analysts expect that LiveRamp Holdings, Inc. will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

RAMP has been the subject of several research reports. Benchmark restated a "buy" rating and issued a $51.00 target price (up from $48.00) on shares of LiveRamp in a research note on Tuesday, August 5th. Morgan Stanley reduced their target price on LiveRamp from $34.00 to $30.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen upgraded LiveRamp from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. DA Davidson initiated coverage on LiveRamp in a research note on Wednesday, July 9th. They issued a "buy" rating and a $45.00 target price for the company. Finally, Zacks Research downgraded LiveRamp from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.83.

Insider Buying and Selling

In related news, CTO Mohsin Hussain sold 12,734 shares of LiveRamp stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $27.94, for a total value of $355,787.96. Following the sale, the chief technology officer owned 63,409 shares of the company's stock, valued at approximately $1,771,647.46. The trade was a 16.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Timothy R. Cadogan sold 2,500 shares of LiveRamp stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director directly owned 55,470 shares in the company, valued at $1,885,980. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.31% of the company's stock.

LiveRamp Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.