Campbell & CO Investment Adviser LLC Purchases Shares of 108,147 Ringcentral, Inc. $RNG

Key Points

• Campbell & CO Investment Adviser LLC has invested approximately $2.68 million in Ringcentral, acquiring 108,147 shares of the company.
• Institutional investors own a significant majority, with 98.61% of Ringcentral's stock held by various hedge funds and investment firms.
• Research analysts currently have a consensus rating of "Hold" on Ringcentral, with a consensus price target of $30.62.

Campbell & CO Investment Adviser LLC purchased a new stake in Ringcentral, Inc. (NYSE:RNG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 108,147 shares of the software maker's stock, valued at approximately $2,678,000. Campbell & CO Investment Adviser LLC owned approximately 0.12% of Ringcentral as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in shares of Ringcentral in the first quarter valued at $4,165,000. Northwestern Mutual Wealth Management Co. grew its position in Ringcentral by 83.3% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,510 shares of the software maker's stock worth $211,000 after buying an additional 3,868 shares in the last quarter. AlphaQuest LLC grew its position in Ringcentral by 23,331.1% during the first quarter. AlphaQuest LLC now owns 35,381 shares of the software maker's stock worth $876,000 after buying an additional 35,230 shares in the last quarter. Ameriprise Financial Inc. grew its position in Ringcentral by 7.9% during the first quarter. Ameriprise Financial Inc. now owns 7,026,565 shares of the software maker's stock worth $173,987,000 after buying an additional 512,834 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Ringcentral during the first quarter worth about $351,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RNG shares. Mizuho boosted their target price on Ringcentral from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. Wedbush reduced their target price on Ringcentral from $38.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded Ringcentral from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Oppenheimer upgraded Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 target price for the company in a research report on Wednesday, August 6th. Finally, Piper Sandler boosted their target price on Ringcentral from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $30.62.

Ringcentral Trading Down 0.7%

Shares of RNG traded down $0.22 during midday trading on Friday, reaching $30.49. The stock had a trading volume of 1,176,609 shares, compared to its average volume of 1,482,204. The company's 50-day moving average is $28.12 and its 200 day moving average is $27.21. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.19. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -217.77, a price-to-earnings-growth ratio of 1.41 and a beta of 1.28.

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

Insider Buying and Selling

In other news, CAO Tarun Arora sold 1,037 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $31.09, for a total value of $32,240.33. Following the completion of the sale, the chief accounting officer owned 110,626 shares of the company's stock, valued at approximately $3,439,362.34. The trade was a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Vladimir Shmunis sold 27,018 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $30.54, for a total value of $825,129.72. Following the completion of the sale, the chief executive officer directly owned 407,529 shares of the company's stock, valued at approximately $12,445,935.66. This trade represents a 6.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,391 shares of company stock worth $3,095,392. Insiders own 6.97% of the company's stock.

Ringcentral Company Profile

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.