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

A number of other institutional investors have also added to or reduced their stakes in the stock. Tempus Wealth Planning LLC acquired a new position in Ringcentral in the 1st quarter valued at approximately $344,000. Oak Thistle LLC increased its position in Ringcentral by 186.7% in the 1st quarter. Oak Thistle LLC now owns 44,466 shares of the software maker's stock valued at $1,101,000 after acquiring an additional 28,959 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Ringcentral in the 1st quarter valued at approximately $1,670,000. Allianz Asset Management GmbH increased its position in shares of Ringcentral by 4.0% during the first quarter. Allianz Asset Management GmbH now owns 34,200 shares of the software maker's stock worth $847,000 after buying an additional 1,300 shares during the period. Finally, Foundry Partners LLC increased its position in shares of Ringcentral by 1.4% during the first quarter. Foundry Partners LLC now owns 258,054 shares of the software maker's stock worth $6,389,000 after buying an additional 3,492 shares during the period. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Ringcentral Stock Up 2.2%

NYSE RNG traded up $0.67 during trading hours on Monday, reaching $31.54. 737,772 shares of the company were exchanged, compared to its average volume of 1,460,178. Ringcentral, Inc. has a 1 year low of $20.58 and a 1 year high of $42.19. The business's 50 day simple moving average is $27.83 and its 200-day simple moving average is $27.21. The stock has a market capitalization of $2.86 billion, a P/E ratio of -225.19, a P/E/G ratio of 1.42 and a beta of 1.28.

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

Insider Activity at Ringcentral

In other news, COO Kira Makagon sold 21,185 shares of Ringcentral stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $27.69, for a total value of $586,612.65. Following the completion of the transaction, the chief operating officer owned 413,131 shares in the company, valued at $11,439,597.39. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Vladimir Shmunis sold 27,018 shares of Ringcentral stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.54, for a total transaction of $825,129.72. Following the completion of the transaction, the chief executive officer owned 407,529 shares of the company's stock, valued at $12,445,935.66. The trade was a 6.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,354 shares of company stock worth $3,063,152. 6.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on RNG. Oppenheimer upgraded shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a research report on Wednesday, August 6th. Wedbush cut their target price on shares of Ringcentral from $38.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Jefferies Financial Group dropped their price objective on shares of Ringcentral from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial lowered their target price on shares of Ringcentral from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Finally, Piper Sandler increased their target price on shares of Ringcentral from $25.00 to $28.00 and gave the company a "neutral" rating in a 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $30.62.

Ringcentral 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.