16,473 Shares in RingCentral, Inc. $RNG Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management acquired a new stake in RingCentral, Inc. (NYSE:RNG) during the 1st quarter, HoldingsChannel reports. The firm acquired 16,473 shares of the software maker’s stock, valued at approximately $613,000.

A number of other large investors have also bought and sold shares of the company. Invenomic Capital Management LP raised its stake in shares of RingCentral by 3.9% in the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after buying an additional 55,088 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in RingCentral in the 3rd quarter worth about $843,000. Clark Capital Management Group Inc. increased its holdings in RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock worth $8,600,000 after acquiring an additional 154,188 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its stake in RingCentral by 124.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after acquiring an additional 50,122 shares during the period. Finally, Capital World Investors raised its stake in RingCentral by 20.9% in the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at RingCentral

In related news, CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the completion of the transaction, the chief accounting officer directly owned 68,100 shares in the company, valued at $2,928,300. The trade was a 5.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Kira Makagon sold 16,988 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the transaction, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. This represents a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 41,656 shares of company stock valued at $1,780,310. 7.30% of the stock is currently owned by company insiders.

RingCentral Trading Down 0.1%

RNG stock opened at $39.05 on Wednesday. The firm has a 50 day moving average of $40.76 and a 200-day moving average of $35.39. The firm has a market capitalization of $3.27 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. RingCentral, Inc. has a 12 month low of $23.59 and a 12 month high of $49.85.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. During the same quarter in the prior year, the firm posted $1.00 EPS. RingCentral’s revenue was up 5.3% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Sell-side analysts predict that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is presently 31.91%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research report on Friday, May 8th. Jefferies Financial Group restated a “hold” rating and set a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Needham & Company LLC raised their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Wells Fargo & Company lifted their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $43.00.

RingCentral Company Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.