RingCentral, Inc. $RNG Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in shares of RingCentral, Inc. (NYSE:RNG) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,823,636 shares of the software maker’s stock after purchasing an additional 129,444 shares during the period. Vanguard Group Inc. owned approximately 0.13% of RingCentral worth $335,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in RingCentral by 9.0% in the first quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after buying an additional 940 shares in the last quarter. Woodline Partners LP boosted its position in RingCentral by 14.8% during the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock worth $3,949,000 after purchasing an additional 20,518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in RingCentral by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after purchasing an additional 5,398 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of RingCentral by 11.2% in the second quarter. Envestnet Asset Management Inc. now owns 29,033 shares of the software maker’s stock valued at $823,000 after buying an additional 2,923 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of RingCentral during the 2nd quarter worth $404,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insider Buying and Selling at RingCentral

In related news, CFO Vaibhav Agarwal sold 10,744 shares of RingCentral stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $35.50, for a total transaction of $381,412.00. Following the transaction, the chief financial officer owned 176,621 shares in the company, valued at approximately $6,270,045.50. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Vladimir Shmunis sold 95,831 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total value of $3,410,625.29. Following the transaction, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. This represents a 43.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 232,171 shares of company stock worth $8,163,821. 7.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RNG has been the subject of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of RingCentral in a report on Monday, December 29th. Needham & Company LLC reissued a “buy” rating and set a $36.00 price target on shares of RingCentral in a research report on Tuesday, November 4th. Robert W. Baird boosted their price target on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group set a $38.00 price objective on RingCentral in a research note on Friday, February 20th. Finally, Rosenblatt Securities lifted their price objective on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research report on Friday, February 20th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $34.04.

RingCentral Price Performance

NYSE RNG opened at $36.26 on Friday. The company has a market cap of $3.14 billion, a P/E ratio of 75.54, a P/E/G ratio of 1.47 and a beta of 1.23. RingCentral, Inc. has a 12 month low of $20.58 and a 12 month high of $40.64. The company has a 50-day moving average of $28.98 and a 200-day moving average of $29.14.

RingCentral (NYSE:RNG) last issued its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $644.03 million for the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 29.05% and a net margin of 1.73%.The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, equities research analysts anticipate that RingCentral, Inc. will post 1.29 EPS for the current year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a $0.075 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.30 annualized dividend and a dividend yield of 0.8%.

RingCentral 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.