RingCentral, Inc. $RNG Shares Sold by Swiss National Bank

Swiss National Bank cut its position in shares of RingCentral, Inc. (NYSE:RNG) by 5.9% during the first quarter, Holdings Channel.com reports. The firm owned 142,400 shares of the software maker’s stock after selling 8,900 shares during the quarter. Swiss National Bank’s holdings in RingCentral were worth $5,296,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. LSV Asset Management boosted its holdings in RingCentral by 142.4% in the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares during the last quarter. AQR Capital Management LLC raised its position in shares of RingCentral by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after buying an additional 523,966 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of RingCentral during the 3rd quarter valued at approximately $53,365,000. Marshall Wace LLP raised its position in shares of RingCentral by 4.4% during the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after buying an additional 75,709 shares during the period. Finally, First Trust Advisors LP lifted its holdings in RingCentral by 0.7% in the fourth quarter. First Trust Advisors LP now owns 1,619,722 shares of the software maker’s stock valued at $46,778,000 after acquiring an additional 11,534 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

RingCentral Stock Performance

NYSE:RNG opened at $57.50 on Thursday. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $58.98. The company has a 50 day moving average price of $41.24 and a 200 day moving average price of $37.42. The stock has a market capitalization of $4.82 billion, a P/E ratio of 46.00, a PEG ratio of 1.61 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same quarter in the previous year, the company earned $1.06 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Research analysts forecast that RingCentral, Inc. will post 2.88 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.125 dividend. The ex-dividend date is Thursday, August 6th. This represents a $0.50 annualized dividend and a dividend yield of 0.9%. This is a boost from RingCentral’s previous quarterly dividend of $0.07. RingCentral’s dividend payout ratio (DPR) is presently 24.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RNG. Jefferies Financial Group reissued a “hold” rating and set a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price target on shares of RingCentral in a research note on Friday, July 24th. Morgan Stanley increased their price target on RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Robert W. Baird set a $45.00 price objective on RingCentral in a research report on Friday, May 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, RingCentral currently has an average rating of “Hold” and an average price target of $44.40.

Insider Transactions at RingCentral

In other RingCentral news, Director Robert I. Theis sold 2,530 shares of RingCentral stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total value of $101,908.40. Following the completion of the transaction, the director directly owned 30,834 shares of the company’s stock, valued at $1,241,993.52. The trade was a 7.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief accounting officer owned 68,100 shares in the company, valued at $2,928,300. This trade represents a 5.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 38,628 shares of company stock worth $1,656,201. 7.30% of the stock is owned by corporate insiders.

About RingCentral

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.