Chiron Capital Management LLC Has $445,000 Holdings in Ringcentral, Inc. $RNG

Chiron Capital Management LLC decreased its position in shares of Ringcentral, Inc. (NYSE:RNG) by 12.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,700 shares of the software maker’s stock after selling 2,200 shares during the quarter. Chiron Capital Management LLC’s holdings in Ringcentral were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Ringcentral by 8.2% during the 1st quarter. Bank of New York Mellon Corp now owns 548,765 shares of the software maker’s stock valued at $13,587,000 after purchasing an additional 41,486 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Ringcentral by 41.6% during the first quarter. Victory Capital Management Inc. now owns 179,855 shares of the software maker’s stock valued at $4,453,000 after buying an additional 52,849 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Ringcentral by 6.2% during the first quarter. Private Advisor Group LLC now owns 9,448 shares of the software maker’s stock worth $234,000 after acquiring an additional 552 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Ringcentral by 4.0% in the 1st quarter. Allianz Asset Management GmbH now owns 34,200 shares of the software maker’s stock worth $847,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Ringcentral in the 1st quarter worth about $1,670,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Vladimir Shmunis sold 46,932 shares of the firm’s stock in a transaction that occurred 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 trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Tarun Arora sold 1,037 shares of Ringcentral stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.09, for a total transaction of $32,240.33. Following the completion of the sale, the chief accounting officer directly owned 110,626 shares in the company, valued at $3,439,362.34. This trade represents a 0.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,869 shares of company stock valued at $2,240,201 over the last three months. Insiders own 6.97% of the company’s stock.

Ringcentral Price Performance

Shares of NYSE:RNG opened at $27.27 on Monday. Ringcentral, Inc. has a 1 year low of $20.58 and a 1 year high of $42.19. The company has a market capitalization of $2.47 billion, a PE ratio of -194.74, a price-to-earnings-growth ratio of 1.33 and a beta of 1.33. The business has a fifty day moving average price of $29.03 and a two-hundred day moving average price of $28.21.

Ringcentral (NYSE:RNG) last issued its quarterly earnings results on Monday, November 3rd. The software maker reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $638.66 million for the quarter, compared to the consensus estimate of $635.39 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Ringcentral has set its FY 2025 guidance at 4.290-4.330 EPS. Q4 2025 guidance at 1.120-1.150 EPS. Sell-side analysts anticipate that Ringcentral, Inc. will post 1.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ringcentral in a research note on Thursday. Wells Fargo & Company assumed coverage on Ringcentral in a report on Tuesday, September 30th. They set an “equal weight” rating and a $32.00 price target for the company. UBS Group lowered their price target on Ringcentral from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Morgan Stanley lifted their price objective on shares of Ringcentral from $29.00 to $31.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Finally, Oppenheimer upgraded shares of Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ringcentral currently has a consensus rating of “Hold” and a consensus target price of $31.54.

About Ringcentral

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.