RingCentral, Inc. $RNG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of RingCentral, Inc. (NYSE:RNG) by 3.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,840 shares of the software maker’s stock after selling 13,515 shares during the period. Wellington Management Group LLP’s holdings in RingCentral were worth $13,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management grew its holdings in RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC lifted its holdings in RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after buying an additional 523,966 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in RingCentral by 150.4% in the 1st quarter. Quantinno Capital Management LP now owns 1,976,995 shares of the software maker’s stock worth $73,524,000 after buying an additional 1,187,437 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in RingCentral in the 3rd quarter valued at about $53,365,000. Finally, Marshall Wace LLP boosted its position in RingCentral by 4.4% in the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after buying an additional 75,709 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at RingCentral

In other RingCentral news, CEO Vladimir Shmunis sold 15,556 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $71.78, for a total transaction of $1,116,609.68. Following the sale, the chief executive officer directly owned 190,271 shares in the company, valued at approximately $13,657,652.38. The trade was a 7.56% decrease in their position. The transaction was disclosed in a filing 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Vaibhav Agarwal sold 7,046 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $72.10, for a total transaction of $508,016.60. Following the completion of the sale, the chief financial officer directly owned 146,700 shares of the company’s stock, valued at approximately $10,577,070. This represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 46,799 shares of company stock worth $3,248,018 in the last ninety days. 7.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RNG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Piper Sandler raised their price objective on RingCentral from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Mizuho lifted their price objective on RingCentral from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Oppenheimer upped their target price on RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $50.00 price target on shares of RingCentral in a research report on Friday, July 24th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.00.

RingCentral Trading Down 0.1%

Shares of RingCentral stock opened at $73.32 on Tuesday. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 58.66, a PEG ratio of 1.27 and a beta of 1.14. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $77.95. The business’s 50 day simple moving average is $55.57 and its 200-day simple moving average is $44.94.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. Sell-side analysts predict that RingCentral, Inc. will post 2.89 earnings per share for the current year.

RingCentral Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th were given a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. This represents a $0.50 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 6th. RingCentral’s payout ratio is presently 40.00%.

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.