Acadian Asset Management LLC Has $25.83 Million Holdings in Ringcentral, Inc. $RNG

Key Points

• Acadian Asset Management LLC reduced its stake in RingCentral, Inc. by 10.6% in Q1, now holding approximately 1.15% of the company, valued at $25.83 million.
• Several large investors, including PNC Financial Services and GAMMA Investing LLC, have recently increased their positions in RingCentral, indicating growing institutional interest.
• Analysts have a consensus rating of "Hold" on RingCentral, with recent price targets ranging from $29.00 to $35.00 based on various upgrades and downgrades.

Acadian Asset Management LLC cut its position in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,043,977 shares of the software maker's stock after selling 123,270 shares during the quarter. Acadian Asset Management LLC owned about 1.15% of Ringcentral worth $25,830,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RNG. New Age Alpha Advisors LLC acquired a new stake in shares of Ringcentral during the first quarter worth $49,000. PNC Financial Services Group Inc. increased its position in shares of Ringcentral by 26.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock worth $72,000 after buying an additional 615 shares during the period. GAMMA Investing LLC increased its position in shares of Ringcentral by 1,803.3% during the first quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker's stock worth $145,000 after buying an additional 5,536 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Ringcentral during the first quarter worth $145,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Ringcentral by 405.0% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,080 shares of the software maker's stock worth $175,000 after buying an additional 5,678 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Wall Street Zen upgraded shares of Ringcentral from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. KeyCorp began coverage on shares of Ringcentral in a report on Friday, June 6th. They issued a "sector weight" rating for the company. UBS Group reduced their price target on shares of Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Oppenheimer upgraded shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.62.

Insider Buying and Selling at Ringcentral

In other news, CAO Tarun Arora sold 7,776 shares of Ringcentral stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $28.00, for a total transaction of $217,728.00. Following the completion of the transaction, the chief accounting officer directly owned 114,497 shares in the company, valued at $3,205,916. This trade represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Agarwal sold 2,443 shares of Ringcentral stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $30.70, for a total transaction of $75,000.10. Following the transaction, the chief financial officer owned 226,448 shares of the company's stock, valued at $6,951,953.60. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,391 shares of company stock valued at $3,095,392 over the last three months. Corporate insiders own 6.97% of the company's stock.

Ringcentral Trading Down 3.6%

NYSE:RNG opened at $30.62 on Thursday. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of -218.73, a PEG ratio of 1.45 and a beta of 1.32. The firm has a fifty day simple moving average of $28.69 and a two-hundred day simple moving average of $27.09. Ringcentral, Inc. has a 12 month low of $20.58 and a 12 month high of $42.19.

Ringcentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.04. The firm had revenue of $620.40 million during the quarter, compared to analysts' expectations of $617.90 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The business's revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.91 earnings per share. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. Equities analysts predict that Ringcentral, Inc. will post 1.29 earnings per share for the current fiscal year.

About Ringcentral

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company's products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.

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