RingCentral, Inc. $RNG Stock Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its position in shares of RingCentral, Inc. (NYSE:RNG) by 21.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,471 shares of the software maker’s stock after selling 9,545 shares during the period. Pinnacle Associates Ltd.’s holdings in RingCentral were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in RingCentral by 128.1% in the 3rd quarter. Fortitude Family Office LLC now owns 349 shares of the software maker’s stock valued at $26,000 after purchasing an additional 196 shares during the period. WealthCollab LLC grew its position in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after purchasing an additional 259 shares in the last quarter. Versant Capital Management Inc grew its position in shares of RingCentral by 2.3% during the 2nd quarter. Versant Capital Management Inc now owns 11,521 shares of the software maker’s stock valued at $449,000 after purchasing an additional 259 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings 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 worth $41,000 after purchasing an additional 297 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in shares of RingCentral by 3.1% in the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after purchasing an additional 362 shares during the period. Institutional investors own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. FBN Securities reiterated an “outperform” rating and issued a $105.00 price objective on shares of RingCentral in a research report on Friday. Royal Bank Of Canada assumed coverage on RingCentral in a research report on Thursday, September 3rd. They set an “outperform” rating and a $85.00 target price for the company. Morgan Stanley boosted their target price on RingCentral from $41.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday. Robert W. Baird set a $95.00 target price on RingCentral in a research note on Friday. Finally, Piper Sandler raised their price target on RingCentral from $43.00 to $94.00 and gave the company a “neutral” rating in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.69.

Trending Headlines about RingCentral

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: Raised full-year guidance: RingCentral now expects fiscal 2026 adjusted EPS of $5.07–$5.12, well above the $4.61 analyst consensus, and revenue of approximately $2.7 billion versus expectations of $2.6 billion. Fourth-quarter EPS guidance of $1.32–$1.37 also exceeds the $1.24 consensus, while revenue guidance is slightly above estimates. RingCentral guidance
• Positive Sentiment: Beat quarterly expectations: Third-quarter EPS came in at $1.33 versus the $1.28 consensus, while revenue of $676.04 million exceeded estimates of $667.30 million and increased 5.8% year over year. RingCentral Q3 earnings
• Positive Sentiment: AI growth is becoming material: Paid artificial-intelligence product annual recurring revenue surpassed $400 million, with reports indicating that AI monetization roughly doubled. This supports expectations for stronger growth and margin expansion. RingCentral long-term investor takeaways
• Positive Sentiment: Balance sheet improved: RingCentral reduced gross debt below $1 billion ahead of schedule, while earnings and cash flow improved. The company also declared a quarterly dividend of $0.125 per share, equal to a $0.50 annualized payout. RingCentral outlook and cash flow
• Neutral Sentiment: Analyst targets moved higher: Needham raised its target to $110 with a Buy rating, FBN Securities lifted its target to $105, and Morgan Stanley increased its target to $91 while retaining Equal Weight. Wells Fargo also raised its target to $85 but maintained Equal Weight, suggesting some analysts view the near-term upside as more limited.
• Neutral Sentiment: At approximately $83.46, RingCentral remains below its $98.14 52-week high but trades well above its 50-day and 200-day moving averages, indicating strong momentum alongside a higher valuation.

Insiders Place Their Bets

In other RingCentral news, CEO Vladimir Shmunis sold 11,165 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $76.58, for a total transaction of $855,015.70. Following the transaction, the chief executive officer directly owned 179,106 shares in the company, valued at $13,715,937.48. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, CFO Vaibhav Agarwal sold 7,046 shares of RingCentral stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $72.10, for a total transaction of $508,016.60. Following the transaction, the chief financial officer directly owned 146,700 shares in the company, valued at $10,577,070. This trade represents a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 have sold 84,625 shares of company stock valued at $6,024,953 over the last 90 days. Company insiders own 7.30% of the company’s stock.

RingCentral Stock Up 5.1%

Shares of RNG stock opened at $83.46 on Friday. The business has a 50-day moving average price of $74.01 and a two-hundred day moving average price of $54.24. RingCentral, Inc. has a 12-month low of $24.14 and a 12-month high of $98.14. The firm has a market cap of $6.97 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.38 and a beta of 1.10.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, October 22nd. The software maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The firm had revenue of $676.04 million during the quarter, compared to analysts’ expectations of $667.30 million. RingCentral had a negative return on equity of 37.87% and a net margin of 25.27%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS. As a group, research analysts expect that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a $0.1250 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.50 annualized dividend and a yield of 0.6%. RingCentral’s dividend payout ratio is currently 40.00%.

RingCentral Profile

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company’s offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.