RingCentral, Inc. $RNG Shares Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. increased its stake in RingCentral, Inc. (NYSE:RNG) by 51.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 232,921 shares of the software maker’s stock after purchasing an additional 78,943 shares during the period. RingCentral accounts for 2.6% of Bastion Asset Management Inc.’s portfolio, making the stock its 12th largest position. Bastion Asset Management Inc. owned approximately 0.27% of RingCentral worth $8,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in RingCentral by 269.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after buying an additional 738 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of RingCentral by 70.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in RingCentral in the 3rd quarter valued at about $30,000. SJS Investment Consulting Inc. lifted its position in RingCentral by 598.3% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock valued at $45,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after purchasing an additional 639 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Ratings Changes

RNG has been the subject of several recent analyst reports. Jefferies Financial Group restated a “hold” rating and issued a $40.00 target price on shares of RingCentral in a research report on Saturday, May 9th. Rosenblatt Securities boosted their price objective on RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a report on Friday, May 8th. Wells Fargo & Company raised their target price on RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Robert W. Baird set a $45.00 target price on RingCentral in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $43.00.

Insiders Place Their Bets

In other news, COO Kira Makagon sold 16,988 shares of the 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 sale, the chief operating officer owned 212,724 shares in the company, valued at approximately $9,049,278.96. This represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert I. Theis sold 2,530 shares of RingCentral stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.28, for a total value of $101,908.40. Following the completion of the transaction, the director owned 30,834 shares in the company, valued at $1,241,993.52. The trade was a 7.58% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 45,451 shares of company stock valued at $1,933,565. 7.30% of the stock is currently owned by insiders.

RingCentral Trading Up 2.8%

RingCentral stock opened at $41.85 on Friday. RingCentral, Inc. has a 52 week low of $23.59 and a 52 week high of $49.85. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 44.52, a PEG ratio of 1.20 and a beta of 1.14. The company’s 50-day moving average price is $40.51 and its two-hundred day moving average price is $36.32.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The company had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. During the same period in the prior year, the business posted $1.00 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. Research analysts expect that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Announces Dividend

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