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SAN FRANCISCO—Hussain Mohsin, the Chief Technology Officer of LiveRamp Holdings, Inc. (NYSE:RAMP), has sold a significant portion of the company’s common stock, according to a recent SEC filing. On February 14, Mohsin sold 3,554 shares of LiveRamp’s common stock, with a total transaction value of approximately $119,663. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares, and the company maintains a strong financial position with more cash than debt on its balance sheet.
The shares were sold at a weighted average price of $33.67, with individual transaction prices ranging from $33.65 to $33.68. Following this transaction, Mohsin holds 57,594 shares in the company. The stock has shown strong momentum with a 40% return over the past six months, though InvestingPro analysis suggests the stock may be currently undervalued.
LiveRamp Holdings is a prominent player in the data connectivity space, providing solutions for data-driven marketing and analytics. This transaction might attract attention from investors monitoring insider activities as part of their investment strategy. The company maintains healthy liquidity with a current ratio of 2.78, and analysts expect profitability this year. Discover more insights and 12 additional ProTips with a subscription to InvestingPro.
In other recent news, LiveRamp Holdings Inc. has been the subject of attention from financial analysts. Benchmark has maintained a Buy rating on LiveRamp, with a price target of $42. The firm anticipates that LiveRamp will deliver total revenue in line with expectations for the quarter, largely driven by an increase in variable subscription revenue. The upcoming fiscal quarter is significant for LiveRamp as it marks the company’s largest renewal period, which is expected to lead to an improvement in Recognized Purchase Obligations trends.
Meanwhile, Morgan Stanley (NYSE:MS) has downgraded LiveRamp’s stock rating from Overweight to Equalweight, maintaining a price target of $35. The downgrade was based on several observations including the absence of strong catalysts to accelerate growth and a slowdown in new customer acquisition due to the phasing out of third-party cookies. The firm also noted that the benefits from LiveRamp’s acquisition of Habu, a data collaboration firm, have not met initial expectations. Despite the downgrade, Morgan Stanley’s price target still suggests potential for growth, albeit at a more modest pace than previously anticipated. These are the recent developments concerning LiveRamp Holdings Inc.
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