JPMorgan Chase & Co. Sells 52,479 Shares of LiveRamp Holdings, Inc. $RAMP

Key Points

• JPMorgan Chase trimmed its stake in LiveRamp by 8.8%, selling 52,479 shares and leaving it with 542,178 shares (about 0.83% ownership) valued at roughly $14.7 million at quarter-end.
• LiveRamp beat expectations for the most recent quarter with $0.76 EPS versus a $0.69 estimate and revenue of $212.2 million (up 8.6% year-over-year).
• The company’s Board authorized a $200 million share buyback (up to 13.6% of shares), while institutional investors collectively own about 93.83% of the stock.

JPMorgan Chase & Co. lowered its stake in shares of LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 542,178 shares of the company's stock after selling 52,479 shares during the period. JPMorgan Chase & Co. owned 0.83% of LiveRamp worth $14,715,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RAMP. Allianz Asset Management GmbH lifted its position in shares of LiveRamp by 57.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 259,945 shares of the company's stock valued at $7,055,000 after buying an additional 95,135 shares during the last quarter. Magnetar Financial LLC purchased a new stake in LiveRamp during the second quarter valued at about $928,000. Cresset Asset Management LLC bought a new position in LiveRamp during the second quarter worth about $2,036,000. Integrated Quantitative Investments LLC purchased a new position in shares of LiveRamp in the second quarter worth about $1,301,000. Finally, XTX Topco Ltd bought a new stake in shares of LiveRamp in the second quarter valued at approximately $1,259,000. Hedge funds and other institutional investors own 93.83% of the company's stock.

LiveRamp Stock Down 0.2%

LiveRamp stock opened at $28.69 on Thursday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 27.07 and a beta of 1.12. The business has a 50-day simple moving average of $26.06 and a 200 day simple moving average of $27.46. LiveRamp Holdings, Inc. has a 52 week low of $21.71 and a 52 week high of $35.20.

LiveRamp (NYSE:RAMP - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. LiveRamp had a return on equity of 6.40% and a net margin of 8.64%.The firm had revenue of $212.20 million for the quarter, compared to analysts' expectations of $211.68 million. During the same quarter last year, the firm posted $0.55 EPS. The company's revenue was up 8.6% compared to the same quarter last year. On average, research analysts anticipate that LiveRamp Holdings, Inc. will post 0.48 earnings per share for the current year.

LiveRamp declared that its Board of Directors has approved a share buyback program on Thursday, February 12th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research downgraded shares of LiveRamp from a "strong-buy" rating to a "hold" rating in a report on Monday, January 12th. Morgan Stanley raised their price target on LiveRamp from $30.00 to $33.00 and gave the stock an "equal weight" rating in a report on Thursday, November 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of LiveRamp in a research report on Monday, December 29th. DA Davidson dropped their price objective on LiveRamp from $45.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, February 6th. Finally, Wells Fargo & Company lifted their target price on LiveRamp from $34.00 to $38.00 and gave the company an "equal weight" rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $39.40.

LiveRamp Company Profile

LiveRamp Holdings, Inc is a leading provider of data connectivity and identity resolution services for marketers, publishers and platforms. The company's core technology enables organizations to link disparate data sources—such as CRM systems, web engagements and offline transaction records—into a single, privacy-safe view of individual consumers. By standardizing and anonymizing identifiers, LiveRamp's platform facilitates targeted media activation, measurement and analytics across digital, mobile, addressable TV and offline channels.

The company offers a suite of products designed to support every stage of the data lifecycle.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.