RingCentral, Inc. $RNG Shares Sold by Harel Insurance Investments & Financial Services Ltd.

Key Points

• Harel Insurance Investments cut its RingCentral stake by 11.3% in the first quarter, selling 31,607 shares and ending with 248,716 shares valued at about $9.25 million.
• RingCentral recently posted better-than-expected earnings, with Q1 EPS of $1.20 versus $1.17 expected and revenue of $644.2 million, up 5.3% year over year. The company also raised guidance, with FY 2026 EPS guidance set at 4.85–5.01.
• Analysts remain cautious overall, with a consensus rating of Hold and a consensus price target of $43, even as several firms recently lifted their targets. The stock was trading around $40.73 and is down 1.4% in the latest session.

Harel Insurance Investments & Financial Services Ltd. lowered its stake in shares of RingCentral, Inc. (NYSE:RNG - Free Report) by 11.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,716 shares of the software maker's stock after selling 31,607 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned 0.29% of RingCentral worth $9,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Maryland State Retirement & Pension System acquired a new position in shares of RingCentral during the first quarter worth about $584,000. Hillsdale Investment Management Inc. lifted its stake in RingCentral by 0.3% in the first quarter. Hillsdale Investment Management Inc. now owns 294,050 shares of the software maker's stock worth $10,936,000 after acquiring an additional 800 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in RingCentral in the first quarter worth approximately $503,000. Principal Financial Group Inc. acquired a new position in RingCentral during the 1st quarter worth approximately $13,719,000. Finally, Chicago Partners Investment Group LLC grew its holdings in RingCentral by 68.7% during the 1st quarter. Chicago Partners Investment Group LLC now owns 19,275 shares of the software maker's stock worth $717,000 after acquiring an additional 7,851 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RNG shares. Jefferies Financial Group reissued a "hold" rating and issued a $40.00 target price on shares of RingCentral in a report on Saturday, May 9th. Robert W. Baird set a $45.00 price target on shares of RingCentral in a research report on Friday, May 8th. Rosenblatt Securities increased their price objective on RingCentral from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Finally, Morgan Stanley upped their price objective on RingCentral from $33.00 to $40.00 and gave the stock an "equal weight" rating in a report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $43.00.

RingCentral Stock Down 1.4%

NYSE RNG opened at $40.73 on Thursday. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85. The business has a fifty day moving average of $40.58 and a 200-day moving average of $36.24. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 43.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14.

RingCentral (NYSE:RNG - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million for the quarter, compared to analysts' expectations of $642.73 million. During the same period last year, the company earned $1.00 EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, analysts anticipate that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Announces Dividend

The firm also recently announced 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%.

Insider Transactions at RingCentral

In other RingCentral news, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the completion of the sale, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. The trade was a 7.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 3,615 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $43.00, for a total transaction of $155,445.00. Following the transaction, the chief accounting officer directly owned 68,100 shares of the company's stock, valued at approximately $2,928,300. This represents a 5.04% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 45,451 shares of company stock worth $1,933,565 in the last quarter. 7.30% of the stock is currently owned by corporate insiders.

RingCentral Company 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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