Calamos Advisors LLC Sells 41,093,209 Shares of RingCentral, Inc. $RNG

Calamos Advisors LLC lessened its stake in RingCentral, Inc. (NYSE:RNG) by 100.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,791 shares of the software maker’s stock after selling 41,093,209 shares during the quarter. Calamos Advisors LLC’s holdings in RingCentral were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pictet Asset Management Holding SA grew its stake in RingCentral by 3.1% during the first quarter. Pictet Asset Management Holding SA now owns 11,883 shares of the software maker’s stock worth $442,000 after buying an additional 362 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of RingCentral by 15.8% during the 4th quarter. Rothschild Investment LLC now owns 2,681 shares of the software maker’s stock worth $77,000 after buying an additional 366 shares during the last quarter. Sovereign Financial Group Inc. lifted its position in shares of RingCentral by 4.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 10,170 shares of the software maker’s stock worth $378,000 after buying an additional 409 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after buying an additional 424 shares during the last quarter. Finally, Xponance LLC boosted its stake in RingCentral by 4.0% in the fourth quarter. Xponance LLC now owns 12,059 shares of the software maker’s stock valued at $348,000 after buying an additional 464 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RNG. Morgan Stanley lifted their target price on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research report on Monday, May 11th. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price target on shares of RingCentral in a research note on Saturday, May 9th. Rosenblatt Securities lifted their price target on shares of RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, May 8th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective 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. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, RingCentral currently has an average rating of “Hold” and an average price target of $43.00.

Insider Buying and Selling at RingCentral

In other RingCentral news, CFO Vaibhav Agarwal sold 7,047 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99. Following the sale, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at $7,815,749.94. The trade was a 4.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 Robert I. Theis sold 2,530 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total transaction of $101,908.40. Following the completion of the transaction, the director owned 30,834 shares of the company’s stock, valued at approximately $1,241,993.52. This trade represents a 7.58% 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. Insiders sold 45,451 shares of company stock worth $1,933,565 over the last quarter. Insiders own 7.30% of the company’s stock.

RingCentral Stock Down 1.6%

Shares of RNG opened at $41.11 on Friday. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The business has a 50-day simple moving average of $40.42 and a two-hundred day simple moving average of $36.36. The stock has a market cap of $3.45 billion, a PE ratio of 43.73, a PEG ratio of 1.22 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 EPS for the quarter, beating analysts’ consensus estimates 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 business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities research analysts expect that RingCentral, Inc. will post 2.78 EPS for the current year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.075 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a yield of 0.7%. RingCentral’s dividend payout ratio (DPR) is currently 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.