In a recent transaction, Kimberly Bloomston, Chief Product Officer at LiveRamp Holdings, Inc. (NYSE:RAMP), sold a total of 13,055 shares of the company's common stock at a price of $31.11 per share. This sale resulted in a total value of $406,141.
The transaction, dated June 12, 2024, was disclosed in a filing with the Securities and Exchange Commission. Following the sale, Bloomston continues to hold 127,404 shares of LiveRamp Holdings, indicating a strong ongoing stake in the company's future.
LiveRamp Holdings, Inc., formerly known as Acxiom Holdings, Inc., is a technology company specializing in computer processing and data preparation. The company's shares are traded on the New York Stock Exchange under the ticker symbol RAMP, and it is incorporated in Delaware.
The sale by Bloomston comes as part of the regular financial activities of company executives, who may sell shares for personal financial management reasons. It is important for investors to monitor such transactions as they provide insights into the actions of the company's insiders.
Investors and market watchers often look to the trading activities of insiders like Bloomston for hints about the company's operational performance and strategic direction. However, it is also common for executives to sell shares for reasons that may not necessarily be directly related to the company's performance.
LiveRamp Holdings continues to operate from its headquarters on Bush Street in San Francisco, California, maintaining its position in the technology sector. The company's business phone remains available at 866-352-3267 for interested parties seeking further information about their services and offerings.
In other recent news, LiveRamp Holdings Inc. has been generating significant attention with its robust financial performance and strategic moves. The company recently reported strong fourth fiscal quarter results, exceeding expectations with a revenue of $172 million and an operating income of $16 million. Wells Fargo (NYSE:WFC) has maintained its Overweight rating on LiveRamp and increased the price target to $54 from $50, following these impressive results.
On the other hand, Craig-Hallum reiterated its Buy rating on LiveRamp, setting a price target of $55.00, noting the company's resilience and continued growth in subscription and annual recurring revenue. LiveRamp's strategic acquisition of Habu, a marketing software company, has also contributed to its positive financial performance.
Looking ahead, LiveRamp anticipates revenues between $710 million and $730 million for fiscal year 2025, despite potential challenges from the deprecation of third-party cookies. Wells Fargo's revised financial estimates for LiveRamp in fiscal year 2025 include an increase in revenue to $721 million, with non-GAAP operating income and non-GAAP earnings per share projected at $127 million and $1.61, respectively. These recent developments underscore LiveRamp's strong position in the market and its potential for continued growth.
InvestingPro Insights
Amid the news of Kimberly Bloomston's stock sale, LiveRamp Holdings, Inc. (NYSE:RAMP) remains a company of interest for investors. According to InvestingPro, LiveRamp is in a financially robust position with more cash than debt on its balance sheet and liquid assets exceeding short-term obligations. These two InvestingPro Tips suggest that the company has financial flexibility and a solid foundation to manage its operations and invest in growth.
From a valuation perspective, LiveRamp's market capitalization is currently at $2.03 billion, with a high P/E ratio of 172.51. This signals that the market has high expectations for the company's future earnings. Additionally, the company has seen a revenue growth of 10.57% over the last twelve months as of Q4 2024, reflecting its ability to increase sales and potentially its market share.
While the recent insider sale might raise questions, the company's financial health, as indicated by its strong balance sheet and revenue growth, provides a positive outlook. For a more in-depth analysis, there are 11 additional InvestingPro Tips available which can guide investors in making informed decisions. Interested readers can take advantage of the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights.
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