Corient Private Wealth LLC Has $716,000 Stake in RingCentral, Inc. $RNG

Corient Private Wealth LLC lifted its stake in RingCentral, Inc. (NYSE:RNG) by 194.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,783 shares of the software maker’s stock after purchasing an additional 16,365 shares during the period. Corient Private Wealth LLC’s holdings in RingCentral were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RNG. Invenomic Capital Management LP boosted its holdings in RingCentral by 3.9% during the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock worth $42,013,000 after buying an additional 55,088 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of RingCentral in the 3rd quarter valued at about $843,000. Clark Capital Management Group Inc. increased its stake in shares of RingCentral by 103.3% in the 3rd quarter. Clark Capital Management Group Inc. now owns 303,455 shares of the software maker’s stock valued at $8,600,000 after acquiring an additional 154,188 shares during the last quarter. Robertson Stephens Wealth Management LLC raised its position in shares of RingCentral by 124.7% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 90,311 shares of the software maker’s stock valued at $2,608,000 after acquiring an additional 50,122 shares during the period. Finally, First Trust Advisors LP boosted its stake in RingCentral by 12.1% during the 3rd quarter. First Trust Advisors LP now owns 1,608,188 shares of the software maker’s stock worth $45,576,000 after acquiring an additional 173,616 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Insider Activity at RingCentral

In other RingCentral news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were 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. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Amy Guggenheim Shenkan sold 1,265 shares of RingCentral stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the transaction, the director directly owned 29,372 shares of the company’s stock, valued at $1,192,209.48. This represents a 4.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 45,451 shares of company stock valued at $1,933,565 over the last ninety days. Insiders own 7.30% of the company’s stock.

RingCentral Stock Performance

Shares of RNG stock opened at $40.07 on Friday. The stock’s fifty day moving average price is $40.72 and its two-hundred day moving average price is $35.55. The company has a market cap of $3.36 billion, a PE ratio of 42.63, a P/E/G ratio of 1.18 and a beta of 1.14. RingCentral, Inc. has a fifty-two week low of $23.59 and a fifty-two week high of $49.85.

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

RingCentral Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd were paid a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.30 annualized dividend and a dividend yield of 0.7%. RingCentral’s dividend payout ratio is presently 31.91%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RNG shares. Oppenheimer restated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Wells Fargo & Company increased their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Rosenblatt Securities lifted their price target on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on shares of RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a report on Friday, March 13th. Finally, Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.00.

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.