Cetera Investment Advisers Takes Position in Ringcentral, Inc. $RNG

Key Points

• Cetera Investment Advisers acquired 10,332 shares of RingCentral, Inc. valued at approximately $256,000 during the first quarter, indicating institutional interest in the company.
• Major investors like GAMMA Investing LLC increased their holdings significantly by 1,803.3% in the first quarter, reflecting a growing confidence in RingCentral's business.
• RingCentral's earnings report showed an EPS of $1.06, surpassing analyst expectations, and the company's revenue reflected a 4.6% year-over-year increase.

Cetera Investment Advisers bought a new position in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,332 shares of the software maker's stock, valued at approximately $256,000.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in Ringcentral during the fourth quarter worth $15,630,000. AQR Capital Management LLC raised its position in Ringcentral by 24.5% in the 4th quarter. AQR Capital Management LLC now owns 1,612,270 shares of the software maker's stock valued at $56,446,000 after buying an additional 317,689 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in Ringcentral by 42.4% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 783,742 shares of the software maker's stock valued at $19,405,000 after buying an additional 233,438 shares during the last quarter. Two Sigma Investments LP raised its position in Ringcentral by 35.9% in the 4th quarter. Two Sigma Investments LP now owns 796,575 shares of the software maker's stock valued at $27,888,000 after buying an additional 210,365 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Ringcentral by 79.5% in the 4th quarter. Two Sigma Advisers LP now owns 412,700 shares of the software maker's stock valued at $14,449,000 after buying an additional 182,800 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

Ringcentral Trading Down 3.1%

Shares of RNG stock traded down $0.96 on Tuesday, hitting $30.27. 1,448,238 shares of the stock were exchanged, compared to its average volume of 2,083,398. The firm has a market capitalization of $2.74 billion, a PE ratio of -216.23, a P/E/G ratio of 1.44 and a beta of 1.28. Ringcentral, Inc. has a one year low of $20.58 and a one year high of $42.19. The firm's 50 day moving average is $27.98 and its two-hundred day moving average is $27.22.

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

Wall Street Analyst Weigh In

RNG has been the subject of a number of analyst reports. Mizuho increased their price target on Ringcentral from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Monday, May 12th. Raymond James Financial lowered their price target on Ringcentral from $40.00 to $35.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Rosenblatt Securities reissued a "buy" rating and issued a $32.00 price target on shares of Ringcentral in a research report on Monday, May 19th. Jefferies Financial Group lowered their price target on Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Finally, Oppenheimer raised Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price target for the company in a research report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $30.62.

Insider Transactions at Ringcentral

In other news, 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 transaction of $586,612.65. Following the completion of the transaction, the chief operating officer owned 413,131 shares in the company, valued at approximately $11,439,597.39. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vladimir Shmunis sold 46,932 shares of the 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 $13,387,319.55. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,391 shares of company stock worth $3,095,392 over the last 90 days. 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.