Hsbc Holdings PLC Has $2.93 Million Stake in RingCentral, Inc. $RNG

Key Points

• HSBC Holdings PLC increased its RingCentral stake by 76.7% in the fourth quarter, ending with 101,445 shares worth about $2.93 million.
• RingCentral’s latest quarterly results beat expectations, with EPS of $1.20 and revenue of $644.2 million, while the company also reaffirmed FY 2026 guidance and paid a quarterly dividend of $0.075 per share.
• Insider selling continued, including transactions by CAO Tarun Arora and Director Amy Guggenheim Shenkan; meanwhile, analysts currently rate the stock a Hold on average with a consensus price target of $43.

Hsbc Holdings PLC raised its stake in shares of RingCentral, Inc. (NYSE:RNG - Free Report) by 76.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,445 shares of the software maker's stock after buying an additional 44,018 shares during the period. Hsbc Holdings PLC owned 0.12% of RingCentral worth $2,934,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in shares of RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker's stock valued at $29,000 after acquiring an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker's stock worth $30,000 after purchasing an additional 424 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new stake in RingCentral during the third quarter worth approximately $30,000. Global Retirement Partners LLC boosted its position in RingCentral by 70.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker's stock worth $44,000 after purchasing an additional 639 shares during the period. Finally, Covestor Ltd grew its holdings in RingCentral by 198.5% during the fourth quarter. Covestor Ltd now owns 1,594 shares of the software maker's stock valued at $46,000 after purchasing an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

Insider Activity

In other RingCentral news, CAO Tarun Arora sold 3,615 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $43.00, for a total value of $155,445.00. Following the completion of the sale, the chief accounting officer owned 68,100 shares in the company, valued at approximately $2,928,300. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the transaction, the director directly owned 29,372 shares of the company's stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 45,451 shares of company stock worth $1,933,565. 7.30% of the stock is currently owned by insiders.

RingCentral Price Performance

RNG stock opened at $41.94 on Friday. The business has a fifty day moving average price of $40.78 and a 200 day moving average price of $35.94. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 44.62, a P/E/G ratio of 1.20 and a beta of 1.14.

RingCentral (NYSE:RNG - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.03. The company had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The business's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities analysts expect that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.7%. RingCentral's dividend payout ratio is 31.91%.

Analyst Ratings Changes

A number of research firms have recently commented on RNG. Morgan Stanley lifted their price target on shares of RingCentral from $33.00 to $40.00 and gave the company an "equal weight" rating in a research report on Monday, May 11th. Robert W. Baird set a $45.00 price objective on shares of RingCentral in a report on Friday, May 8th. Oppenheimer reiterated an "outperform" rating and issued a $50.00 target price on shares of RingCentral in a research note on Friday, May 8th. Jefferies Financial Group reiterated a "hold" rating and issued a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Finally, Wells Fargo & Company boosted their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, RingCentral currently has an average rating of "Hold" and a consensus price target of $43.00.

RingCentral Profile

RingCentral, Inc is a leading provider of cloud-based business communications and collaboration solutions. The company’s flagship platform delivers unified communications as a service (UCaaS), integrating voice over IP (VoIP) phone systems, video conferencing, team messaging and SMS into a single, cloud-native application. In addition to its UCaaS offering, RingCentral provides contact center as a service (CCaaS) capabilities, enabling organizations to manage customer interactions across voice, email, chat and social channels from a centralized dashboard.

Founded in 1999 and headquartered in Belmont, California, RingCentral went public on the New York Stock Exchange under the ticker RNG in 2013.

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