Cetera Investment Advisers Acquires New Shares in Ringcentral, Inc. $RNG

Cetera Investment Advisers acquired a new stake in Ringcentral, Inc. (NYSE:RNG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,332 shares of the software maker’s stock, valued at approximately $256,000.

Other large investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Ringcentral in the fourth quarter valued at approximately $49,000. Quarry LP lifted its holdings in Ringcentral by 84.1% in the fourth quarter. Quarry LP now owns 3,501 shares of the software maker’s stock valued at $123,000 after acquiring an additional 1,599 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Ringcentral by 1,803.3% in the first quarter. GAMMA Investing LLC now owns 5,843 shares of the software maker’s stock valued at $145,000 after acquiring an additional 5,536 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in Ringcentral by 41.5% in the first quarter. Central Pacific Bank Trust Division now owns 7,123 shares of the software maker’s stock valued at $176,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in Ringcentral in the fourth quarter valued at approximately $225,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNG has been the topic of a number of recent analyst reports. Mizuho upped their price objective on Ringcentral from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, May 12th. KeyCorp assumed coverage on Ringcentral in a research note on Friday, June 6th. They set a “sector weight” rating on the stock. Piper Sandler upped their price target on Ringcentral from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Wall Street Zen upgraded Ringcentral from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. Finally, Raymond James Financial decreased their price target on Ringcentral from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.62.

Ringcentral Price Performance

NYSE:RNG opened at $29.4420 on Thursday. The firm has a market capitalization of $2.67 billion, a PE ratio of -210.28, a price-to-earnings-growth ratio of 1.38 and a beta of 1.28. The business’s fifty day moving average price is $27.67 and its 200 day moving average price is $27.38. Ringcentral, Inc. has a 12 month low of $20.58 and a 12 month high of $42.19.

Ringcentral (NYSE:RNG) last posted its earnings results on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. The firm had revenue of $620.40 million for the quarter, compared to analyst estimates of $617.90 million. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.Ringcentral’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, equities analysts anticipate that Ringcentral, Inc. will post 1.29 EPS for the current year.

Insider Activity at Ringcentral

In related news, CAO Tarun Arora sold 7,776 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $28.00, for a total value of $217,728.00. Following the transaction, the chief accounting officer owned 114,497 shares of the company’s stock, valued at $3,205,916. This represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Agarwal sold 2,443 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $30.70, for a total value of $75,000.10. Following the completion of the transaction, the chief financial officer directly owned 226,448 shares in the company, valued at $6,951,953.60. This trade represents a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,404 shares of company stock valued at $879,341 over the last quarter. 6.97% of the stock is owned by insiders.

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.