RingCentral, Inc. $RNG Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co grew its stake in RingCentral, Inc. (NYSE:RNG) by 60.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,615 shares of the software maker’s stock after purchasing an additional 20,133 shares during the period. Elo Mutual Pension Insurance Co owned approximately 0.06% of RingCentral worth $1,519,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC increased its stake in RingCentral by 9.0% in the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after buying an additional 940 shares during the period. Woodline Partners LP increased its stake in shares of RingCentral by 14.8% during the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock worth $3,949,000 after acquiring an additional 20,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in RingCentral by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock worth $6,467,000 after purchasing an additional 5,398 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in RingCentral by 11.2% in the second quarter. Envestnet Asset Management Inc. now owns 29,033 shares of the software maker’s stock valued at $823,000 after purchasing an additional 2,923 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in RingCentral in the second quarter valued at about $404,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RNG has been the subject of a number of analyst reports. Rosenblatt Securities increased their target price on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a research note on Friday, February 20th. UBS Group set a $38.00 price objective on RingCentral in a research report on Friday, February 20th. Mizuho boosted their target price on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Oppenheimer reiterated an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Finally, Piper Sandler boosted their price objective on shares of RingCentral from $28.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, February 23rd. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $34.04.

RingCentral Trading Up 1.4%

Shares of NYSE RNG opened at $39.71 on Friday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 82.73, a PEG ratio of 1.54 and a beta of 1.14. The company’s 50-day moving average price is $29.68 and its 200 day moving average price is $29.37. RingCentral, Inc. has a 52 week low of $20.58 and a 52 week high of $40.93.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. RingCentral had a net margin of 1.73% and a negative return on equity of 28.14%. The business had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. During the same period in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, research analysts expect that RingCentral, Inc. will post 1.29 earnings per share for the current year.

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, March 9th.

Insider Buying and Selling

In related news, CFO Vaibhav Agarwal sold 18,680 shares of RingCentral stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $36.33, for a total transaction of $678,644.40. Following the completion of the sale, the chief financial officer owned 139,493 shares in the company, valued at approximately $5,067,780.69. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Tarun Arora sold 3,723 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total transaction of $134,549.22. Following the completion of the transaction, the chief accounting officer owned 84,332 shares in the company, valued at approximately $3,047,758.48. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 250,686 shares of company stock valued at $8,865,429 over the last three months. Insiders own 7.30% of the company’s stock.

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.