Jump Financial LLC Invests $4.17 Million in Ringcentral, Inc. $RNG

Key Points

• Jump Financial LLC has made a new investment of approximately $4.17 million in RingCentral, acquiring 168,197 shares and owning 0.19% of the company.
• Brokerages have varied outlooks on RingCentral, with Piper Sandler raising their price target to $28.00 while others, like UBS and Jefferies, have set targets between $29.00 and $33.00.
• CEO Vladimir Shmunis sold 46,932 shares at an average price of $28.95, marking a 9.21% decrease in his ownership, while insiders have collectively sold over $3 million in stock recently.

Jump Financial LLC bought a new stake in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 168,197 shares of the software maker's stock, valued at approximately $4,165,000. Jump Financial LLC owned about 0.19% of Ringcentral at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Ringcentral by 7.9% in the 1st quarter. Ameriprise Financial Inc. now owns 7,026,565 shares of the software maker's stock worth $173,987,000 after buying an additional 512,834 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Ringcentral by 24.5% in the 4th quarter. AQR Capital Management LLC now owns 1,612,270 shares of the software maker's stock worth $56,446,000 after buying an additional 317,689 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Ringcentral by 29.0% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,365,724 shares of the software maker's stock worth $33,815,000 after buying an additional 306,971 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Ringcentral by 35.9% in the 4th quarter. Two Sigma Investments LP now owns 796,575 shares of the software maker's stock worth $27,888,000 after buying an additional 210,365 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of 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 worth $19,405,000 after buying an additional 233,438 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Ringcentral from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Jefferies Financial Group decreased their price target on Ringcentral from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial decreased their price target on shares of Ringcentral from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wedbush dropped their price target on Ringcentral from $38.00 to $30.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Mizuho raised their price target on Ringcentral from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $30.62.

Ringcentral Stock Performance

Ringcentral stock traded down $0.22 during mid-day trading on Friday, reaching $30.49. 1,695,116 shares of the company were exchanged, compared to its average volume of 1,486,329. The business has a fifty day moving average of $28.12 and a 200 day moving average of $27.21. The firm has a market cap of $2.76 billion, a P/E ratio of -217.77, a PEG ratio of 1.41 and a beta of 1.28. Ringcentral, Inc. has a 12-month low of $20.58 and a 12-month high of $42.19.

Ringcentral (NYSE:RNG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $617.90 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business's revenue for the quarter 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. Sell-side analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vladimir Shmunis sold 27,018 shares of Ringcentral stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $30.54, for a total transaction of $825,129.72. Following the sale, the chief executive officer owned 407,529 shares of the company's stock, valued at approximately $12,445,935.66. The trade was a 6.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $31.09, for a total transaction of $32,240.33. Following the sale, the chief accounting officer directly owned 110,626 shares in the company, valued at approximately $3,439,362.34. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 106,391 shares of company stock valued at $3,095,392 over the last quarter. Insiders own 6.97% of the company's stock.

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.