Deutsche Bank AG Acquires 6,821 Shares of Ringcentral, Inc. $RNG

Deutsche Bank AG raised its holdings in Ringcentral, Inc. (NYSE:RNG) by 9.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,975 shares of the software maker’s stock after acquiring an additional 6,821 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Ringcentral worth $2,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Ringcentral in the 4th quarter worth $49,000. New Age Alpha Advisors LLC purchased a new stake in shares of Ringcentral in the 1st quarter worth $49,000. PNC Financial Services Group Inc. lifted its holdings in shares of Ringcentral by 26.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,925 shares of the software maker’s stock worth $72,000 after buying an additional 615 shares during the period. Quarry LP lifted its holdings in shares of Ringcentral by 84.1% in the 4th quarter. Quarry LP now owns 3,501 shares of the software maker’s stock worth $123,000 after buying an additional 1,599 shares during the period. Finally, Bayforest Capital Ltd purchased a new stake in shares of Ringcentral in the 1st quarter worth $145,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $32.00 price objective on shares of Ringcentral in a research report on Monday, May 19th. KeyCorp assumed coverage on Ringcentral in a research report on Friday, June 6th. They set a “sector weight” rating on the stock. Jefferies Financial Group dropped their price objective on Ringcentral from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Oppenheimer raised Ringcentral from a “market perform” rating to an “outperform” rating and set a $35.00 price objective on the stock in a research report on Wednesday, August 6th. Finally, Mizuho increased their price target on Ringcentral from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ringcentral presently has an average rating of “Hold” and an average target price of $30.62.

Insider Buying and Selling

In other Ringcentral news, CAO Tarun Arora sold 7,776 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer directly owned 114,497 shares of the company’s stock, valued at approximately $3,205,916. This trade represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Agarwal sold 2,443 shares of the firm’s stock in a transaction that occurred 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 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 over the last ninety days. Company insiders own 6.97% of the company’s stock.

Ringcentral Stock Performance

Ringcentral stock opened at $29.1220 on Friday. The stock has a 50-day moving average of $27.73 and a two-hundred day moving average of $27.35. Ringcentral, Inc. has a one year low of $20.58 and a one year high of $42.19. The stock has a market cap of $2.64 billion, a PE ratio of -208.00, a price-to-earnings-growth ratio of 1.35 and a beta of 1.28.

Ringcentral (NYSE:RNG) last announced its quarterly earnings data on Tuesday, August 5th. The software maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.04. Ringcentral had a negative return on equity of 19.63% and a negative net margin of 0.50%.The firm had revenue of $620.40 million during the quarter, compared to analysts’ expectations of $617.90 million. During the same period last year, the business posted $0.91 earnings per share. The company’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, sell-side analysts predict that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

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.