Short Interest in RingCentral, Inc. (NYSE:RNG) Decreases By 24.4%

RingCentral, Inc. (NYSE:RNG) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 8,318,001 shares, a decline of 24.4% from the February 12th total of 10,998,242 shares. Based on an average trading volume of 4,775,693 shares, the short-interest ratio is presently 1.7 days. Approximately 10.4% of the shares of the company are short sold. Approximately 10.4% of the shares of the company are short sold. Based on an average trading volume of 4,775,693 shares, the short-interest ratio is presently 1.7 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on RNG. Mizuho increased their target price on RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a report on Friday, February 20th. Needham & Company LLC raised their target price on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Robert W. Baird upped their price target on RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, RingCentral has a consensus rating of “Hold” and a consensus price target of $35.63.

RingCentral Trading Down 1.0%

Shares of RingCentral stock traded down $0.39 during trading on Monday, hitting $37.39. The stock had a trading volume of 1,633,947 shares, compared to its average volume of 2,730,855. RingCentral has a 12 month low of $20.58 and a 12 month high of $42.42. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 77.90, a P/E/G ratio of 1.49 and a beta of 1.14. The business’s 50-day moving average is $30.99 and its 200 day moving average is $29.76.

RingCentral (NYSE:RNG) last posted its earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The business had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. 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 analysts expect that RingCentral will post 1.29 EPS for the current year.

RingCentral Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th. RingCentral’s dividend payout ratio (DPR) is currently 62.50%.

Insider Transactions at RingCentral

In other RingCentral news, CAO Tarun Arora sold 8,840 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $40.69, for a total transaction of $359,699.60. Following the completion of the transaction, the chief accounting officer owned 75,492 shares in the company, valued at $3,071,769.48. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kira Makagon sold 22,196 shares of RingCentral stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40. Following the completion of the transaction, the chief operating officer owned 339,545 shares of the company’s stock, valued at $11,935,006.75. The trade was a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 259,526 shares of company stock valued at $9,225,128. 7.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On RingCentral

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors raised its position in shares of RingCentral by 20.9% during the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after buying an additional 2,031,861 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in RingCentral in the third quarter worth $53,365,000. LSV Asset Management grew its position in RingCentral by 142.4% in the fourth quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC increased its stake in RingCentral by 35.4% in the fourth quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock valued at $57,874,000 after acquiring an additional 523,966 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in RingCentral by 138.6% during the third quarter. Russell Investments Group Ltd. now owns 811,747 shares of the software maker’s stock valued at $23,113,000 after purchasing an additional 471,559 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.