Swiss National Bank Reduces Position in Ringcentral, Inc. $RNG

Swiss National Bank lessened its holdings in shares of Ringcentral, Inc. (NYSE:RNG) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,700 shares of the software maker’s stock after selling 4,900 shares during the period. Swiss National Bank owned 0.15% of Ringcentral worth $3,459,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in Ringcentral by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,966 shares of the software maker’s stock valued at $321,000 after purchasing an additional 1,586 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in 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. Northern Trust Corp boosted its holdings in Ringcentral by 2.3% in the 4th quarter. Northern Trust Corp now owns 529,746 shares of the software maker’s stock valued at $18,546,000 after purchasing an additional 11,911 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Ringcentral in the 4th quarter valued at about $545,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Ringcentral by 57.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 9,924 shares of the software maker’s stock valued at $246,000 after purchasing an additional 3,611 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities analysts have weighed in on RNG shares. Jefferies Financial Group decreased their target price on shares of Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Piper Sandler boosted their target price on shares of Ringcentral from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Raymond James Financial decreased their target price on shares of Ringcentral from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Wall Street Zen upgraded shares of Ringcentral from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 5th. Finally, KeyCorp assumed coverage on shares of Ringcentral in a report on Friday, June 6th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.62.

Ringcentral Stock Performance

Shares of RNG stock opened at $29.4420 on Thursday. The firm’s 50 day moving average price is $27.67 and its 200-day moving average price is $27.38. Ringcentral, Inc. has a one year low of $20.58 and a one year high of $42.19. The firm has a market cap of $2.67 billion, a P/E ratio of -210.28, a P/E/G ratio of 1.38 and a beta of 1.28.

Ringcentral (NYSE:RNG) last issued its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The firm had revenue of $620.40 million for the quarter, compared to analyst estimates of $617.90 million. During the same period in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. 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, research analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current fiscal 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.