RingCentral, Inc. $RNG Shares Sold by Insight Wealth Strategies LLC

Key Points

• Insight Wealth Strategies cut its RingCentral stake by 96.4% in the third quarter, selling 156,142 shares and retaining 5,750 shares valued at approximately $430,000. Institutional investors and hedge funds collectively own 98.61% of the company.
• RingCentral shares recently traded at $79.40, near their 52-week high of $81.90, after reporting quarterly earnings and revenue above analyst expectations. The company also raised its quarterly dividend to $0.125, or $0.50 annually.
• Analyst sentiment remains mixed: Needham and Oppenheimer raised their price targets to $85 and rated the stock positively, while the broader analyst consensus remains “Hold” with an average target of $56.

Insight Wealth Strategies LLC decreased its position in shares of RingCentral, Inc. (NYSE:RNG - Free Report) by 96.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,750 shares of the software maker's stock after selling 156,142 shares during the quarter. Insight Wealth Strategies LLC's holdings in RingCentral were worth $430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in RingCentral by 41.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,222 shares of the software maker's stock valued at $241,000 after purchasing an additional 938 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of RingCentral by 19.8% in the third quarter. Farther Finance Advisors LLC now owns 5,487 shares of the software maker's stock valued at $410,000 after buying an additional 908 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of RingCentral by 119.3% in the third quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker's stock valued at $41,000 after buying an additional 297 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of RingCentral during the second quarter valued at about $113,000. Finally, IFP Advisors Inc increased its position in shares of RingCentral by 2,597.9% during the second quarter. IFP Advisors Inc now owns 99,068 shares of the software maker's stock worth $3,862,000 after acquiring an additional 95,396 shares in the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

RingCentral Stock Performance

NYSE:RNG traded up $1.05 on Friday, hitting $79.40. The stock had a trading volume of 264,040 shares, compared to its average volume of 1,998,171. The stock has a market cap of $6.63 billion, a P/E ratio of 63.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.10. RingCentral, Inc. has a 1 year low of $24.14 and a 1 year high of $81.90. The firm's fifty day simple moving average is $70.20 and its two-hundred day simple moving average is $51.09.

• It's RingCentral NYSE: RNG You Want In Your 2021 Portfolio, Not Zoom NASDAQ: ZM

RingCentral (NYSE:RNG - Get Free Report) last announced its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.06. The firm had revenue of $657.01 million for the quarter, compared to the consensus estimate of $650.53 million. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The company's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Equities research analysts predict that RingCentral, Inc. will post 2.89 EPS for the current year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.1250 dividend. This is a boost from RingCentral's previous quarterly dividend of $0.0750. The ex-dividend date was Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.6%. RingCentral's dividend payout ratio is currently 40.00%.

Insider Activity

In related news, CEO Vladimir Shmunis sold 11,165 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $76.58, for a total transaction of $855,015.70. Following the completion of the transaction, the chief executive officer owned 179,106 shares in the company, valued at approximately $13,715,937.48. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Shenkan sold 1,264 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $78.89, for a total transaction of $99,716.96. Following the sale, the director owned 28,108 shares of the company's stock, valued at $2,217,440.12. This trade represents a 4.30% 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. Over the last quarter, insiders sold 84,625 shares of company stock worth $6,024,953. 7.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RNG shares. Needham & Company LLC raised their price target on shares of RingCentral from $55.00 to $85.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Wells Fargo & Company increased their price objective on RingCentral from $43.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 25th. Weiss Ratings restated a "hold (c)" rating on shares of RingCentral in a report on Friday, July 17th. Rosenblatt Securities reaffirmed a "buy" rating and set a $50.00 target price on shares of RingCentral in a research report on Friday, July 24th. Finally, Oppenheimer upped their price target on RingCentral from $50.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday, September 1st. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, RingCentral has an average rating of "Hold" and an average price target of $56.00.

RingCentral Company Profile

RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.

The company's offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.

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