Capital Fund Management S.A. Sells 36,734 Shares of Ringcentral, Inc. $RNG

Key Points

• Capital Fund Management S.A. reduced its stake in RingCentral, Inc. by 20.6% during the first quarter, now holding 141,875 shares valued at approximately $3.5 million.
• Despite the decreased stake by Capital Fund Management, other institutional investors increased their holdings, with Cambridge Investment Research raising theirs by 116.9%.
• Analysts have mixed outlooks on RingCentral, with target prices ranging from $29.00 to $35.00 and an average rating of "Hold", while the stock recently traded up 5.8%.

Capital Fund Management S.A. cut its holdings in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) by 20.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,875 shares of the software maker's stock after selling 36,734 shares during the quarter. Capital Fund Management S.A. owned about 0.16% of Ringcentral worth $3,513,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Rafferty Asset Management LLC increased its position in Ringcentral by 1.7% during the fourth quarter. Rafferty Asset Management LLC now owns 19,685 shares of the software maker's stock worth $689,000 after acquiring an additional 325 shares during the period. Gagnon Securities LLC grew its position in Ringcentral by 5.9% in the 1st quarter. Gagnon Securities LLC now owns 8,155 shares of the software maker's stock worth $202,000 after purchasing an additional 452 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Ringcentral by 6.2% during the 1st quarter. Private Advisor Group LLC now owns 9,448 shares of the software maker's stock worth $234,000 after purchasing an additional 552 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Ringcentral by 26.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock worth $72,000 after purchasing an additional 615 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in shares of Ringcentral by 4.0% during the 1st quarter. Allianz Asset Management GmbH now owns 34,200 shares of the software maker's stock worth $847,000 after purchasing an additional 1,300 shares during the period. 98.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RNG. Mizuho boosted their price objective on shares of Ringcentral from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. KeyCorp began coverage on Ringcentral in a report on Friday, June 6th. They set a "sector weight" rating on the stock. UBS Group lowered their price objective on Ringcentral from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. 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 note on Wednesday, August 6th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $32.00 price target on shares of Ringcentral in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ringcentral currently has a consensus rating of "Hold" and a consensus target price of $30.62.

Ringcentral Stock Up 1.8%

Ringcentral stock traded up $0.53 during mid-day trading on Wednesday, hitting $30.77. 4,103,333 shares of the company were exchanged, compared to its average volume of 1,481,298. The business has a fifty day moving average of $27.98 and a 200 day moving average of $27.22. Ringcentral, Inc. has a 1-year low of $20.58 and a 1-year high of $42.19. The company has a market capitalization of $2.79 billion, a PE ratio of -219.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.28.

Ringcentral (NYSE:RNG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm had revenue of $620.40 million during the quarter, compared to analyst estimates of $617.90 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $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. Research analysts expect that Ringcentral, Inc. will post 1.29 earnings per share for the current year.

Insiders Place Their Bets

In other Ringcentral news, CEO Vladimir Shmunis sold 46,932 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $28.95, for a total value of $1,358,681.40. Following the transaction, the chief executive officer owned 462,429 shares of the company's stock, valued at approximately $13,387,319.55. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kira Makagon sold 21,185 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $27.69, for a total value of $586,612.65. Following the sale, the chief operating officer owned 413,131 shares in the company, valued at $11,439,597.39. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,391 shares of company stock valued at $3,095,392 over the last quarter. 6.97% of the stock is owned by insiders.

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.