AlphaQuest LLC Acquires 8,371 Shares of Ringcentral, Inc. $RNG

AlphaQuest LLC grew its holdings in Ringcentral, Inc. (NYSE:RNG) by 23.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,752 shares of the software maker’s stock after acquiring an additional 8,371 shares during the period. AlphaQuest LLC’s holdings in Ringcentral were worth $1,240,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Ringcentral by 116.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 44,524 shares of the software maker’s stock valued at $1,102,000 after purchasing an additional 23,997 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Ringcentral by 57.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 9,924 shares of the software maker’s stock valued at $246,000 after buying an additional 3,611 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Ringcentral by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,966 shares of the software maker’s stock worth $321,000 after buying an additional 1,586 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Ringcentral during the 1st quarter worth about $302,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Ringcentral by 5.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 194,709 shares of the software maker’s stock worth $4,821,000 after acquiring an additional 9,504 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Agarwal sold 2,443 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $30.70, for a total value of $75,000.10. Following the sale, the chief financial officer owned 226,448 shares of the company’s stock, valued at $6,951,953.60. The trade was a 1.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vladimir Shmunis sold 46,932 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $28.95, for a total transaction of $1,358,681.40. Following the completion of the sale, the chief executive officer owned 462,429 shares in the company, valued at $13,387,319.55. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 77,430 shares of company stock worth $2,291,052 in the last 90 days. 6.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RNG shares. Wall Street Zen upgraded Ringcentral from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 5th. UBS Group reduced their price objective on shares of Ringcentral from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Wells Fargo & Company initiated coverage on shares of Ringcentral in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $32.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ringcentral in a report on Saturday. Finally, Oppenheimer upgraded shares of Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.38.

Ringcentral Stock Performance

Shares of RNG stock opened at $30.00 on Friday. The firm has a fifty day moving average of $29.67 and a 200-day moving average of $27.66. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of -214.26, a P/E/G ratio of 1.34 and a beta of 1.32. Ringcentral, Inc. has a 52-week low of $20.58 and a 52-week high of $42.19.

Ringcentral (NYSE:RNG) last posted its quarterly earnings results on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm had revenue of $620.40 million during the quarter, compared to analyst estimates of $617.90 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. Ringcentral has set its Q3 2025 guidance at 1.060-1.080 EPS. FY 2025 guidance at 4.200-4.320 EPS. On average, sell-side analysts predict that Ringcentral, Inc. will post 1.29 earnings per share for the current year.

Ringcentral Company Profile

RingCentral, Inc, together with its subsidiaries, provides cloud communications, video meetings, collaboration, and contact center software-as-a-service solutions worldwide. The company’s products include RingCentral Message Video Phone that provides a unified experience for communication and collaboration across multiple modes, including HD voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers AI-powered omnichannel and workforce engagement solutions with integrated RingCentral MVP; and RingCX, an AI-powered contact center that a native delivers omnichannel experience.