Dynamic Technology Lab Private Ltd Sells 16,906 Shares of Ringcentral, Inc. $RNG

Key Points

• Dynamic Technology Lab Private Ltd reduced its stake in Ringcentral, Inc. by 39.2%, holding $650,000 worth of shares after selling 16,906 shares in the first quarter.
• Several institutional investors, including Robertson Opportunity Capital LLC and Jacobs Levy Equity Management Inc., have increased their stakes significantly in Ringcentral during the same period.
• Analysts recently adjusted their ratings and price targets for Ringcentral, with UBS Group lowering their target from $33.00 to $32.00 and the consensus rating for the stock remaining "Hold" with a target price of $30.62.

Dynamic Technology Lab Private Ltd cut its stake in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) by 39.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,251 shares of the software maker's stock after selling 16,906 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Ringcentral were worth $650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RNG. Northern Trust Corp grew its position in Ringcentral by 2.3% during the fourth quarter. Northern Trust Corp now owns 529,746 shares of the software maker's stock valued at $18,546,000 after purchasing an additional 11,911 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Ringcentral during the fourth quarter valued at approximately $237,000. Captrust Financial Advisors purchased a new position in Ringcentral during the fourth quarter valued at approximately $225,000. Deutsche Bank AG lifted its stake in Ringcentral by 18.8% in the fourth quarter. Deutsche Bank AG now owns 75,154 shares of the software maker's stock valued at $2,631,000 after acquiring an additional 11,902 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Ringcentral by 62.9% in the fourth quarter. Quantinno Capital Management LP now owns 220,750 shares of the software maker's stock valued at $7,728,000 after acquiring an additional 85,276 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Oppenheimer upgraded shares of 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. Wall Street Zen upgraded shares of Ringcentral from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 5th. UBS Group reduced their target price on shares of Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Jefferies Financial Group reduced their target price on shares of Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, August 6th. Finally, KeyCorp assumed coverage on shares of Ringcentral in a research note on Friday, June 6th. They issued a "sector weight" rating for the company. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $30.62.

Ringcentral Trading Up 1.3%

RNG traded up $0.39 on Monday, hitting $30.75. 513,077 shares of the company's stock traded hands, compared to its average volume of 1,487,804. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -219.61, a P/E/G ratio of 1.40 and a beta of 1.32. The company's 50 day simple moving average is $28.72 and its 200-day simple moving average is $27.09. Ringcentral, Inc. has a one year low of $20.58 and a one year high of $42.19.

Ringcentral (NYSE:RNG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, topping 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 firm had revenue of $620.40 million during the quarter, compared to analysts' expectations of $617.90 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company's quarterly 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, equities analysts anticipate that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Insider Transactions at Ringcentral

In other Ringcentral news, CFO Vaibhav Agarwal sold 2,443 shares of Ringcentral stock in a transaction on Monday, August 18th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Vladimir Shmunis sold 27,018 shares of Ringcentral stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $30.54, for a total value of $825,129.72. Following 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,391 shares of company stock valued at $3,095,392. 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.