Ringcentral, Inc. $RNG Shares Bought by Robertson Opportunity Capital LLC

Key Points

• Robertson Opportunity Capital LLC increased its holdings in RingCentral, Inc. by 12.0%, owning a total of 140,000 shares after acquiring an additional 15,000 shares in the first quarter.
• Several brokerages have reduced their price objectives for RingCentral, with the average target now at $30.62 and an average rating of "Hold" among analysts.
• RingCentral reported $620.40 million in revenue during its latest quarter, indicating a 4.6% increase compared to the previous year, while EPS was reported at $1.06, beating expectations.

Robertson Opportunity Capital LLC grew its holdings in shares of Ringcentral, Inc. (NYSE:RNG - Free Report) by 12.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 140,000 shares of the software maker's stock after acquiring an additional 15,000 shares during the quarter. Ringcentral comprises approximately 1.3% of Robertson Opportunity Capital LLC's holdings, making the stock its 24th largest position. Robertson Opportunity Capital LLC owned approximately 0.15% of Ringcentral worth $3,466,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC boosted its position in Ringcentral by 1.7% during the 4th quarter. Rafferty Asset Management LLC now owns 19,685 shares of the software maker's stock worth $689,000 after acquiring an additional 325 shares during the period. Gagnon Securities LLC boosted its position in Ringcentral by 5.9% during the 1st quarter. Gagnon Securities LLC now owns 8,155 shares of the software maker's stock worth $202,000 after acquiring an additional 452 shares during the period. Private Advisor Group LLC boosted its position in Ringcentral by 6.2% during the 1st quarter. Private Advisor Group LLC now owns 9,448 shares of the software maker's stock worth $234,000 after acquiring an additional 552 shares during the period. 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 acquiring an additional 615 shares during the period. Finally, Allianz Asset Management GmbH boosted its position 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 period. Institutional investors and hedge funds own 98.61% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RNG. Raymond James Financial cut their price objective on Ringcentral from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Wedbush cut their price objective on Ringcentral from $38.00 to $30.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Jefferies Financial Group cut their price objective on Ringcentral from $30.00 to $29.00 and set a "hold" rating for the company in a report on Wednesday, August 6th. UBS Group cut their price objective on Ringcentral from $33.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Oppenheimer upgraded Ringcentral from a "market perform" rating to an "outperform" rating and set a $35.00 price objective for the company in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ringcentral currently has an average rating of "Hold" and a consensus price target of $30.62.

Ringcentral Stock Up 4.4%

Shares of NYSE RNG opened at $31.88 on Friday. Ringcentral, Inc. has a 12 month low of $20.58 and a 12 month high of $42.19. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -227.73, a P/E/G ratio of 1.40 and a beta of 1.32. The business has a fifty day simple moving average of $28.53 and a 200-day simple moving average of $27.06.

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, 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 business had revenue of $620.40 million during the quarter, compared to the consensus estimate of $617.90 million. During the same period in the prior year, the business posted $0.91 earnings per share. Ringcentral's revenue 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. As a group, sell-side analysts expect that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Tarun Arora sold 1,037 shares of the company's 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 completion of the sale, the chief accounting officer directly owned 110,626 shares of the company's stock, valued at $3,439,362.34. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vladimir Shmunis sold 27,018 shares of the company's 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 represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,391 shares of company stock valued at $3,095,392. 6.97% of the stock is currently owned by company insiders.

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.

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