Nuveen LLC Acquires New Stake in Ringcentral, Inc. $RNG

Key Points

• Nuveen LLC has invested $12.10 million in RingCentral, acquiring approximately 488,743 shares and representing about 0.54% of the company's stock.
• Institutional investors hold a significant stake in RingCentral, with 98.61% of the company's stock owned by hedge funds and large investors such as Invesco and Primecap Management, which made substantial increases in their holdings.
• RingCentral's latest quarterly earnings report shows an EPS of $1.06, exceeding analysts' expectations, and the company has offered guidance for Q3 2025 of 1.060-1.080 EPS.

Nuveen LLC purchased a new position in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 488,743 shares of the software maker's stock, valued at approximately $12,101,000. Nuveen LLC owned approximately 0.54% of Ringcentral at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC increased its stake in shares of Ringcentral by 1.7% in the 4th quarter. Rafferty Asset Management LLC now owns 19,685 shares of the software maker's stock valued at $689,000 after purchasing an additional 325 shares during the last quarter. Gagnon Securities LLC grew its holdings in shares of Ringcentral by 5.9% during the first quarter. Gagnon Securities LLC now owns 8,155 shares of the software maker's stock worth $202,000 after purchasing an additional 452 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of Ringcentral by 6.2% during the first quarter. Private Advisor Group LLC now owns 9,448 shares of the software maker's stock worth $234,000 after purchasing an additional 552 shares during the last quarter. PNC Financial Services Group Inc. boosted its position 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 worth $72,000 after buying an additional 615 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in Ringcentral by 4.0% during the 1st quarter. Allianz Asset Management GmbH now owns 34,200 shares of the software maker's stock worth $847,000 after acquiring an additional 1,300 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction on Tuesday, August 26th. The stock was 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 $3,439,362.34. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kira Makagon sold 21,185 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $27.69, for a total transaction of $586,612.65. Following the completion of the transaction, the chief operating officer directly 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 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. 6.97% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on RNG. Needham & Company LLC initiated coverage on shares of Ringcentral in a report on Friday, May 9th. They set a "buy" rating and a $36.00 price target on the stock. Wall Street Zen upgraded Ringcentral from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 5th. Piper Sandler boosted their price target on shares of Ringcentral from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and set a $32.00 price objective on shares of Ringcentral in a research report on Monday, May 19th. Finally, Oppenheimer raised 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. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.62.

Ringcentral Stock Up 1.8%

Ringcentral stock traded up $0.53 during midday trading on Wednesday, hitting $30.77. 4,103,333 shares of the stock were exchanged, compared to its average volume of 2,076,334. Ringcentral, Inc. has a 52-week low of $20.58 and a 52-week high of $42.19. The business's 50-day moving average price is $28.05 and its 200-day moving average price is $27.24. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of -219.78, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28.

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

About Ringcentral

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.