SG Americas Securities LLC Lowers Stock Holdings in RingCentral, Inc. $RNG

SG Americas Securities LLC reduced its position in RingCentral, Inc. (NYSE:RNG) by 67.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 86,307 shares of the software maker’s stock after selling 182,656 shares during the quarter. SG Americas Securities LLC owned about 0.10% of RingCentral worth $3,210,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Invenomic Capital Management LP grew its position in shares of RingCentral by 3.9% during the 3rd quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after purchasing an additional 55,088 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of RingCentral in the third quarter worth $843,000. Clark Capital Management Group Inc. boosted its stake in RingCentral by 103.3% during the third quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after buying an additional 154,188 shares during the period. Robertson Stephens Wealth Management LLC boosted its stake in RingCentral by 124.7% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after buying an additional 50,122 shares during the period. Finally, Capital World Investors grew its position in RingCentral by 20.9% during the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after buying an additional 2,031,861 shares in the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Tarun Arora sold 3,615 shares of the stock in a transaction on 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 owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. This trade represents a 5.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, COO Kira Makagon sold 16,988 shares of RingCentral stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total transaction of $722,669.52. Following the completion of the transaction, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. The trade was a 7.40% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 41,656 shares of company stock valued at $1,780,310. 7.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on RNG shares. Zacks Research raised RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Needham & Company LLC upped their price objective on shares of RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Company raised their target price on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $43.00.

RingCentral Stock Down 0.1%

Shares of RNG stock opened at $39.05 on Wednesday. The business has a 50-day moving average price of $40.76 and a two-hundred day moving average price of $35.39. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The firm has a market cap of $3.27 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to analyst estimates of $642.73 million. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. 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, research analysts expect that RingCentral, Inc. will post 2.78 EPS for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Tuesday, June 2nd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

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.