Diversified Trust Co Purchases 31,391 Shares of Ringcentral, Inc. $RNG

Key Points

• Diversified Trust Co increased its stake in RingCentral, Inc. by 110.2% during the second quarter, acquiring an additional 31,391 shares, which brought its total ownership to approximately 59,876 shares valued at $1.69 million.
• RingCentral reported quarterly earnings of $1.06 EPS, exceeding expectations of $1.02, alongside a revenue of $620.4 million, marking a 4.6% increase compared to the same period last year.
• Wall Street analysts currently rate RingCentral with an average rating of "Hold," and the stock has a consensus price target of $30.62, with varying ratings from different firms reflecting mixed views on its future performance.

Diversified Trust Co boosted its stake in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) by 110.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,876 shares of the software maker's stock after purchasing an additional 31,391 shares during the quarter. Diversified Trust Co owned approximately 0.07% of Ringcentral worth $1,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in Ringcentral by 256.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,481 shares of the software maker's stock valued at $42,000 after purchasing an additional 1,066 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Ringcentral in the first quarter worth approximately $49,000. PNC Financial Services Group Inc. boosted its stake in Ringcentral by 26.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker's stock valued at $72,000 after purchasing an additional 615 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Ringcentral by 1,803.3% during the 1st quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker's stock valued at $145,000 after purchasing an additional 5,536 shares during the period. Finally, Bayforest Capital Ltd bought a new stake in shares of Ringcentral in the 1st quarter worth $145,000. Institutional investors and hedge funds own 98.61% of the company's stock.

Ringcentral Stock Up 3.0%

Ringcentral stock traded up $0.93 during trading hours on Monday, hitting $32.15. The stock had a trading volume of 2,140,544 shares, compared to its average volume of 1,691,572. Ringcentral, Inc. has a fifty-two week low of $20.58 and a fifty-two week high of $42.19. The company has a market cap of $2.91 billion, a PE ratio of -229.60, a price-to-earnings-growth ratio of 1.43 and a beta of 1.32. The company has a 50-day moving average of $29.09 and a two-hundred day moving average of $27.24.

Ringcentral (NYSE:RNG - Get Free Report) last announced 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. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company had revenue of $620.40 million during the quarter, compared to analysts' expectations of $617.90 million. During the same quarter in the prior year, the company posted $0.91 EPS. The business's revenue 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. As a group, analysts forecast that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group cut their price target on shares of Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. Oppenheimer raised shares of Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 6th. UBS Group dropped their target price on shares of Ringcentral from $33.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. KeyCorp assumed coverage on shares of Ringcentral in a research report on Friday, June 6th. They issued a "sector weight" rating for the company. Finally, Wall Street Zen upgraded Ringcentral from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. Four 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 stock. According to data from MarketBeat.com, Ringcentral presently has a consensus rating of "Hold" and a consensus price target of $30.62.

Insiders Place Their Bets

In related news, CFO Vaibhav Agarwal sold 2,443 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $30.70, for a total transaction of $75,000.10. Following the completion of the sale, the chief financial officer directly owned 226,448 shares of the company's stock, valued at $6,951,953.60. The trade was a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Kira Makagon sold 21,185 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer directly owned 413,131 shares of the company's stock, valued at approximately $11,439,597.39. This trade represents a 4.88% decrease in their ownership of the stock. 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 ninety days. Company insiders own 6.97% of the company's stock.

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.