Bastion Asset Management Inc. Sells 71,530 Shares of RingCentral, Inc. $RNG

Bastion Asset Management Inc. lessened its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,978 shares of the software maker’s stock after selling 71,530 shares during the quarter. RingCentral accounts for approximately 2.4% of Bastion Asset Management Inc.’s holdings, making the stock its 18th largest holding. Bastion Asset Management Inc.’s holdings in RingCentral were worth $4,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in RingCentral in the third quarter valued at about $843,000. Invenomic Capital Management LP grew its stake in RingCentral by 3.9% in the third quarter. Invenomic Capital Management LP now owns 1,482,447 shares of the software maker’s stock valued at $42,013,000 after acquiring an additional 55,088 shares during the period. Y Intercept Hong Kong Ltd grew its stake in RingCentral by 544.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock valued at $2,605,000 after acquiring an additional 77,663 shares during the period. Vanguard Group Inc. grew its stake in RingCentral by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after acquiring an additional 129,444 shares during the period. Finally, Capital World Investors grew its stake in RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after acquiring an additional 2,031,861 shares during the period. 98.61% of the stock is currently owned by institutional investors.

RingCentral Price Performance

RNG opened at $42.60 on Wednesday. The business’s 50-day moving average price is $39.41 and its two-hundred day moving average price is $32.87. RingCentral, Inc. has a 1 year low of $23.59 and a 1 year high of $48.57. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 45.32, a P/E/G ratio of 1.24 and a beta of 1.13.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. RingCentral had a negative return on equity of 33.75% and a net margin of 3.31%.The firm had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. During the same quarter last year, the business posted $1.00 EPS. The company’s revenue for the quarter 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. Sell-side analysts anticipate that RingCentral, Inc. will post 2.69 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. RingCentral’s payout ratio is currently 31.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group reissued a “hold” rating and issued a $40.00 target price on shares of RingCentral in a research note on Saturday, May 9th. Robert W. Baird set a $45.00 target price on RingCentral in a research note on Friday, May 8th. Weiss Ratings raised RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Morgan Stanley lifted their price target on RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Finally, Zacks Research raised RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling

In related news, COO Kira Makagon sold 5,870 shares of RingCentral stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $40.27, for a total value of $236,384.90. Following the sale, the chief operating officer owned 236,715 shares of the company’s stock, valued at approximately $9,532,513.05. The trade was a 2.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vladimir Shmunis sold 95,831 shares of RingCentral stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total value of $3,410,625.29. Following the completion of the sale, the chief executive officer directly owned 126,685 shares in the company, valued at approximately $4,508,719.15. This represents a 43.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 262,074 shares of company stock worth $9,402,885 in the last three months. Insiders own 7.30% of the company’s stock.

RingCentral Company 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.