Allspring Global Investments Holdings LLC Trims Stake in LiveRamp Holdings, Inc. (NYSE:RAMP)

Allspring Global Investments Holdings LLC cut its stake in shares of LiveRamp Holdings, Inc. (NYSE:RAMP - Free Report) by 35.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 160,835 shares of the company's stock after selling 87,738 shares during the period. Allspring Global Investments Holdings LLC owned about 0.24% of LiveRamp worth $4,277,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund raised its stake in LiveRamp by 9.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 36,762 shares of the company's stock valued at $961,000 after buying an additional 3,275 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in LiveRamp by 87.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 132,029 shares of the company's stock valued at $3,451,000 after buying an additional 61,543 shares during the last quarter. Legacy Advisors LLC grew its position in shares of LiveRamp by 53.0% during the 1st quarter. Legacy Advisors LLC now owns 21,880 shares of the company's stock valued at $572,000 after acquiring an additional 7,575 shares during the period. Blue Trust Inc. grew its position in shares of LiveRamp by 63.0% during the 1st quarter. Blue Trust Inc. now owns 2,558 shares of the company's stock valued at $67,000 after acquiring an additional 989 shares during the period. Finally, Clarius Group LLC grew its position in shares of LiveRamp by 1.6% during the 1st quarter. Clarius Group LLC now owns 96,566 shares of the company's stock valued at $2,524,000 after acquiring an additional 1,480 shares during the period. 93.83% of the stock is currently owned by hedge funds and other institutional investors.

LiveRamp Stock Performance

Shares of RAMP traded down $0.06 during midday trading on Tuesday, hitting $33.27. 8,079 shares of the company traded hands, compared to its average volume of 610,313. The firm has a 50 day moving average of $30.90 and a 200-day moving average of $29.93. LiveRamp Holdings, Inc. has a 52 week low of $21.45 and a 52 week high of $36.08. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -3,326.50 and a beta of 1.01.

LiveRamp (NYSE:RAMP - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.01). The company had revenue of $188.72 million for the quarter, compared to the consensus estimate of $185.41 million. LiveRamp had a negative net margin of 0.11% and a positive return on equity of 1.33%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Sell-side analysts predict that LiveRamp Holdings, Inc. will post 0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RAMP. Benchmark reissued a "buy" rating and set a $48.00 price objective (up previously from $45.00) on shares of LiveRamp in a research report on Thursday, May 22nd. Evercore ISI reissued an "underperform" rating on shares of LiveRamp in a research report on Wednesday, April 16th. Morgan Stanley boosted their price objective on shares of LiveRamp from $28.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Wall Street Zen raised shares of LiveRamp from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of LiveRamp from $26.00 to $31.00 and gave the company an "equal weight" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, LiveRamp currently has a consensus rating of "Moderate Buy" and an average price target of $40.67.

Insider Activity

In other news, CTO Mohsin Hussain sold 17,529 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $33.00, for a total transaction of $578,457.00. Following the sale, the chief technology officer directly owned 79,616 shares in the company, valued at approximately $2,627,328. This represents a 18.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.