Harel Insurance Investments & Financial Services Ltd. Purchases 15,526 Shares of Ringcentral, Inc. $RNG

Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Ringcentral, Inc. (NYSE:RNG) by 8.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 210,235 shares of the software maker’s stock after acquiring an additional 15,526 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Ringcentral were worth $5,960,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of RNG. Amalgamated Bank grew its holdings in Ringcentral by 8.7% in the second quarter. Amalgamated Bank now owns 6,094 shares of the software maker’s stock worth $173,000 after purchasing an additional 489 shares during the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Ringcentral in the 2nd quarter worth $370,000. Y Intercept Hong Kong Ltd purchased a new position in Ringcentral during the 2nd quarter worth $404,000. Envestnet Asset Management Inc. increased its position in Ringcentral by 11.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 29,033 shares of the software maker’s stock valued at $823,000 after buying an additional 2,923 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in Ringcentral by 23.7% in the second quarter. AlphaQuest LLC now owns 43,752 shares of the software maker’s stock valued at $1,240,000 after buying an additional 8,371 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ringcentral news, 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 value of $75,000.10. Following the sale, the chief financial officer owned 226,448 shares in the company, valued at approximately $6,951,953.60. This represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Tarun Arora sold 1,037 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $31.09, for a total transaction of $32,240.33. Following the sale, the chief accounting officer directly owned 110,626 shares in the company, valued at $3,439,362.34. The trade was a 0.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 77,430 shares of company stock valued at $2,291,052 over the last ninety days. Company insiders own 6.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RNG shares. Morgan Stanley set a $29.00 price target on Ringcentral in a research note on Tuesday, October 21st. Wall Street Zen upgraded shares of Ringcentral from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 5th. UBS Group cut their price target on shares of Ringcentral from $33.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company initiated coverage on shares of Ringcentral in a research note on Tuesday, September 30th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ringcentral in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ringcentral presently has an average rating of “Hold” and an average price target of $31.38.

Ringcentral Price Performance

NYSE:RNG opened at $30.09 on Friday. The firm has a market capitalization of $2.72 billion, a P/E ratio of -214.91, a PEG ratio of 1.33 and a beta of 1.32. The company’s fifty day moving average price is $29.67 and its 200-day moving average price is $27.92. Ringcentral, Inc. has a 1-year low of $20.58 and a 1-year high of $42.19.

Ringcentral (NYSE:RNG) last posted its quarterly 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 company had revenue of $620.40 million for the quarter, compared to analyst estimates of $617.90 million. Ringcentral had a negative net margin of 0.50% and a negative return on equity of 19.63%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $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. Equities analysts anticipate that Ringcentral, Inc. will post 1.29 EPS for the current fiscal year.

Ringcentral 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.