Exploring LiveRamp Holdings, Inc. (RAMP) Investor Profile: Who’s Buying and Why?

You're looking at LiveRamp Holdings, Inc. (RAMP) because the story around data collaboration and first-party identity is defintely getting louder, and the recent money movements are impossible to ignore, so the key takeaway is that institutional conviction remains exceptionally high despite some big names trimming their positions. For the fiscal year 2025, the company delivered a total revenue of $746 million, representing a strong 13% year-over-year growth, which translated into a non-GAAP operating income of $136 million and a non-GAAP diluted earnings per share (EPS) of $1.70. But who's actually placing the bets? Institutional investors control an enormous 93.83% of the stock, and while a giant like BlackRock, Inc. reduced its stake by 4.0% in Q1 2025, selling 474,718 shares, other funds were aggressively buying; Pacer Advisors Inc., for instance, dramatically raised its position by over 9,000%, adding 341,036 shares. This split decision-heavy institutional ownership with significant, yet divergent, buying and selling-tells you the market is still debating the true long-term value of their data collaboration platform, and you need to see who's on which side of that trade and why.

Who Invests in LiveRamp Holdings, Inc. (RAMP) and Why?

If you're looking at LiveRamp Holdings, Inc. (RAMP), the direct takeaway is that this is a stock overwhelmingly controlled by large, professional money managers who are betting on the long-term shift toward privacy-centric data collaboration. The investor base is dominated by institutional players, which means the stock's price movements are less about retail sentiment and more about major fund flows and institutional conviction.

As a former head of analyst for companies like BlackRock, I can tell you that the ownership structure here is typical for a mid-cap tech company with a solid, defensible niche. Institutional investors and hedge funds own a staggering 93.83% of LiveRamp Holdings, Inc. stock. This leaves a small float for retail investors and a modest 3.31% held by company insiders. When institutions hold this much, you're investing alongside the big dogs, which can provide stability but also means you need to pay close attention to their quarterly filings.

The top holders are exactly who you'd expect: passive giants. BlackRock, Inc. holds the largest stake at 17.19%, and The Vanguard Group, Inc. is right behind at 13.83%. These positions are primarily held in index funds (like the iShares and Vanguard ETFs), which are long-term, non-discretionary buyers. They own the stock simply because LiveRamp Holdings, Inc. is in their index, so they are not actively trading based on the latest news.

Here's a quick look at the breakdown:

Investment Motivations: Betting on Privacy-First Growth

The core attraction for these institutional investors is LiveRamp Holdings, Inc.'s position as a leading data collaboration platform that thrives in a world of tightening data privacy rules. They are buying the company's ability to be the identity layer in a post-cookie advertising ecosystem. Frankly, it's a necessary tool for enterprise marketers navigating a complex regulatory environment.

The fiscal year 2025 results defintely reinforced this narrative. Total revenue hit $746 million, up 13% year-over-year. That's double-digit growth, which is exactly what growth-focused funds demand. Plus, the company's financial health is clearly improving: non-GAAP operating income rose to $136 million, a solid jump from $105 million the prior year.

• Growth Prospects: 13% revenue growth in FY25, driven by a 11% increase in customers spending over $1 million, now totaling 128 large accounts.
• Financial Strength: Operating cash flow surged by 46% to a record $154 million in FY25, showing improved cash generation.
• Shareholder Return: Management demonstrated a commitment to returning capital, executing $101 million in share repurchases in fiscal 2025.

The story here is simple: LiveRamp Holdings, Inc. is a profitable, cash-generating growth company in a secularly growing, high-barrier-to-entry market. You can read more about the fundamentals in Breaking Down LiveRamp Holdings, Inc. (RAMP) Financial Health: Key Insights for Investors.

Typical Investment Strategies: Passive Core, Active Trimming

Most of the stock's ownership falls into a long-term holding strategy, largely due to the passive index funds I mentioned. For the active managers, however, the strategies are more nuanced:

• Long-Term Growth Holding: This is the dominant strategy, anchored by the massive passive stakes. They are holding LiveRamp Holdings, Inc. as a core growth asset in the ad-tech and data enablement sector.
• Active Value/Growth-at-a-Reasonable-Price (GARP): Many active funds, like Boston Partners, have been increasing their positions, buying more shares in the second quarter. This suggests they see the stock as a GARP play-a company with strong growth that is not overly expensive relative to its future earnings potential.
• Short-Term Trading/Hedge Fund Activity: We have seen some hedge funds, like Jupiter Asset Management Ltd., trim their positions, and overall, hedge fund holdings decreased by 106.9K shares in the recent quarter. This indicates that some active, short-term managers are taking profits or reallocating capital, which is a normal, healthy part of the market cycle. It's not a panic sell, but a rotation.

What this estimate hides is the risk of revenue concentration; the top ten largest customers represented approximately 25% of the company's revenues in the twelve months ended March 31, 2025. That concentration makes customer churn a real risk, and active managers are likely weighing that against the strong non-GAAP diluted EPS of $1.70 for the fiscal year. So, while the growth is great, you have to be comfortable with that customer concentration risk.

Institutional Ownership and Major Shareholders of LiveRamp Holdings, Inc. (RAMP)

You're looking at LiveRamp Holdings, Inc. (RAMP) and want to know who is really driving the stock. The direct takeaway is this: institutional investors own the vast majority of the company, over 94% of the stock, meaning their collective decisions dictate the share price movement and strategic oversight.

This high concentration of ownership-specifically 94.4% as of the latest filings-translates to a very focused shareholder base, mostly large asset managers who are long-term holders. For a deeper dive into the company's foundation, you can review LiveRamp Holdings, Inc. (RAMP): History, Ownership, Mission, How It Works & Makes Money.

Top Institutional Investors and Their Stakes

The institutional investor profile for LiveRamp Holdings, Inc. is dominated by the world's largest passive and active fund managers. These are the 'whales' of the market, holding significant, multi-million share positions that anchor the stock's stability. Here's the quick math: the top three institutions alone account for over 35% of the total institutional float.

As of late 2025, the largest institutional holders are the index fund giants, whose holdings are primarily tied to RAMP's inclusion in major indices. This is defintely a key factor in the stock's trading volume and liquidity.

Recent Shifts in Institutional Ownership

The narrative around institutional ownership in LiveRamp Holdings, Inc. is not one of wholesale abandonment or massive accumulation, but rather a dynamic re-allocation among funds. In the first half of the 2025 fiscal year, we saw a mixed bag of significant buys and sells, which is typical as fund managers adjust their sector exposure.

For example, in the first quarter of fiscal year 2025, BlackRock, Inc. reduced its position by 474,718 shares, a 4.0% decrease. But at the same time, Pacer Advisors, Inc. made a massive addition, increasing its stake by over 9000% with the purchase of 341,036 shares. This shows active management funds are finding new entry points, even as some index-tracking funds slightly trim their holdings.

More recently, in Q2 2025, we observed smaller, targeted boosts from active managers like Boston Partners, which increased its stake by 1.9%, bringing its total to 810,529 shares. This tells you that while the largest holders are mostly static, there's still conviction among smaller, dedicated investors.

• BlackRock cut 474,718 shares in Q1 2025.
• Pacer Advisors added 341,036 shares in Q1 2025.
• Boston Partners boosted stake by 1.9% in Q2 2025.

Impact on Stock Price and Corporate Strategy

The sheer weight of institutional ownership-nearly all of the outstanding stock-gives these large investors immense influence over LiveRamp Holdings, Inc.'s strategy. Their primary role is to act as a powerful check on management, pushing for capital efficiency and shareholder returns. They want to see the company's strong financial performance translate directly into stock appreciation.

A concrete example of this impact is the company's commitment to returning value to shareholders. In the fiscal year ended March 31, 2025, LiveRamp Holdings, Inc. repurchased approximately 3.8 million shares for a total of $101 million. This aggressive share repurchase program is a direct response to institutional demand for capital return, leveraging the company's improved cash flow, which surged 46% to a record $154 million in FY25.

The company's strategic focus on expanding its Data Collaboration Network and driving non-GAAP operating income to $136 million in FY25 (up from $105 million the prior year) is a clear signal to these institutional owners that management is executing on both growth and profitability. This is the kind of operational efficiency that satisfies a demanding institutional investor base. Their presence means management must prioritize long-term, sustainable growth over short-term, speculative moves.

Key Investors and Their Impact on LiveRamp Holdings, Inc. (RAMP)

If you're looking at LiveRamp Holdings, Inc. (RAMP), the first thing to understand is that the stock is overwhelmingly controlled by large financial institutions. This isn't a retail-driven story; it's a professional money manager's game, and that changes the risk profile.

The institutional ownership of LiveRamp Holdings, Inc. is exceptionally high, sitting at a staggering 94.4% of the shares outstanding as of late 2025. This level of concentration means the stock's movement and, more importantly, the company's long-term strategy are dictated by a few major players. We are defintely talking about a company whose fate rests with the giants of asset management.

The Institutional Giants: BlackRock and Vanguard

The top of the ownership list is a familiar sight for any seasoned analyst: the passive investment behemoths. These aren't necessarily 'activist' in the traditional sense, but their sheer size gives them immense, quiet influence over governance and capital allocation.

As of the end of the second quarter of 2025, the two largest holders alone commanded a significant portion of the company. Here's the quick math on who holds the biggest stakes:

• BlackRock, Inc.: Held 11,274,771 shares, representing 17.19% of the float, with a value of approximately $337.1 million.
• The Vanguard Group, Inc.: Held 9,071,316 shares, accounting for 13.83% of the float, valued at roughly $271.2 million.

When BlackRock, Inc. and The Vanguard Group, Inc. own over 30% combined, their primary focus is on stable, long-term growth and sound environmental, social, and governance (ESG) practices. They want the management team to execute the core strategy without major missteps.

Recent Moves and the Capital Allocation Thesis

Looking at recent activity provides a clear picture of the mixed signals in early 2025. In the first quarter of fiscal year 2025, BlackRock, Inc. actually reduced its position by 474,718 shares, a 4.0% decrease. However, The Vanguard Group, Inc. was on the buy side, adding 283,747 shares, which was a 3.2% increase to their stake. This suggests a slight divergence in short-term sentiment, but the overall long-term conviction remains high.

The company's own actions also reflect a strong commitment to shareholder value, which is a key point of influence for these large investors. LiveRamp Holdings, Inc. executed a substantial share repurchase program in fiscal year 2025, buying back approximately 3.8 million shares for $101 million. This capital return strategy is a direct way to boost earnings per share (EPS) and is often a demand from institutional holders who see the stock as undervalued.

Investor Influence: Strategy and Risk

The primary investment thesis for these institutional holders centers on LiveRamp Holdings, Inc.'s position as a foundational identity and data collaboration platform in a world increasingly focused on data privacy (or 'clean rooms'). The company is actively lobbying on 'Issues surrounding data and privacy,' with a $60,000 disclosure in Q3 2025, a clear indication that it is investing to shape the regulatory landscape that underpins its business model. This proactive stance is what major institutional investors expect.

What this high institutional ownership hides is the inherent risk of a large block sale. If one of the top five holders decides to liquidate a significant portion of its stake, the stock price could see a sharp, immediate drop, even if the fundamentals haven't changed. You need to monitor the 13F filings closely for any major shifts in ownership, especially from the top holders, because a large sell-off from a fund like BlackRock, Inc. signals a loss of confidence that can quickly cascade into the market. For a deeper dive into the company's performance that underpins these investment decisions, check out Breaking Down LiveRamp Holdings, Inc. (RAMP) Financial Health: Key Insights for Investors.

Next Step: Portfolio Manager: Set up an alert for the next round of 13F filings to track any change in the top five institutional holders' positions.

Market Impact and Investor Sentiment

You're looking at LiveRamp Holdings, Inc. (RAMP) because the stock has been moving, and you want to know who is driving that momentum. The short answer is that major shareholders are expressing a cautiously positive sentiment, largely driven by the company's strong fiscal year 2025 (FY2025) performance and strategic product launches. This institutional confidence is the primary force keeping the stock on a 'Hold' to 'Moderate Buy' consensus from Wall Street.

Institutional investors, the big money like mutual funds and pension funds, own a commanding 93.83% of LiveRamp Holdings, Inc.'s stock, so their moves matter a lot more than retail trading volume. We've seen a clear accumulation trend from key institutional holders. For example, Boston Partners boosted its stake by 1.9% in the second quarter of 2025, bringing their total holding to 810,529 shares valued at approximately $26.62 million. Principal Financial Group Inc. and Envestnet Asset Management Inc. also increased their positions in the first quarter. That's a vote of confidence in the long-term data collaboration story.

Here's the quick math on why the big players are sticking around: LiveRamp Holdings, Inc. delivered total revenue of $746 million in FY2025, up 13% year-over-year, alongside a non-GAAP operating income of $136 million. That kind of growth with margin expansion-an 18% non-GAAP operating margin-is what institutions look for. They are also impressed by the company's commitment to shareholder value, demonstrated by the $101 million in share repurchases during FY2025.

Recent Market Reactions and Insider Nuances

The stock market has responded sharply to LiveRamp Holdings, Inc.'s recent financial beats, which is a clear sign that investor sentiment is highly sensitive to execution. Following the announcement of strong second-quarter fiscal year 2026 results and an upgraded full-year revenue forecast to a midpoint of $811 million, the stock jumped 8.3% in one morning session in early November 2025. This isn't just a slight uptick; it's a material reaction to the company's ability to exceed expectations, especially in a volatile macroeconomic environment.

The market is clearly rewarding the company's strategic shift toward profitability and the success of its new products. The launch of Cross-Media Intelligence (CMI) and the adoption of a usage-based pricing model are seen as key catalysts for future growth. However, you need to watch the insider activity. While institutions are buying, insider sentiment has been slightly negative over the past year due to open-market selling, totaling $11.4 million in sales versus $11.0 million in purchases/awards. For example, the Chief Technology Officer sold over 12,000 shares in September 2025. This isn't a panic sale, but it's a data point that suggests some executives are taking profits off the table, which you should factor into your own risk assessment.

• Stock gained 20.9% after Q4 FY2025 earnings.
• Recent earnings beat caused an 8.3% stock jump.
• Insider sales slightly outweigh insider buys over the last year.

Analyst Perspectives on Key Investors and Risk

Wall Street analysts are generally bullish on LiveRamp Holdings, Inc.'s core business model-enabling data collaboration in a privacy-first world-but they are also realists about the risks. The consensus price target ranges from $40.17 to $43.50, which suggests a significant upside from the current price. Firms like Benchmark have maintained a 'Buy' rating and raised their price target to $53.00 as of November 2025, citing confidence in the company's ability to reach the high end of its fiscal year 2026 revenue guidance.

The key investor impact analysts focus on is the stability of the large institutional base. Their sheer size acts as a buffer against short-term market noise. Still, analysts are quick to point out a major risk: revenue concentration. The top ten customers represented approximately 25% of LiveRamp Holdings, Inc.'s total revenue in FY2025. If even one or two of those large clients churn, it creates a material revenue impact. That's why the recent news of new multi-million dollar client wins, like a deal with a global auto manufacturer, is so critical; it diversifies that revenue base and mitigates the concentration risk.

To be fair, the company is actively addressing this risk by expanding its network and rolling out products like CMI. You can dig deeper into the company's financial stability and growth trajectory here: Breaking Down LiveRamp Holdings, Inc. (RAMP) Financial Health: Key Insights for Investors.

Here is a summary of the analyst sentiment as of November 2025:

The takeaway is simple: the big money is betting on the long-term platform story, but they are defintely watching those large customer relationships closely. Your next step should be to monitor the Q3 fiscal year 2026 earnings call for updates on Annual Recurring Revenue (ARR) growth and new customer additions to gauge how well they are mitigating that concentration risk.