Empowered Funds LLC cut its holdings in RingCentral, Inc. (NYSE:RNG – Free Report) by 15.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,615 shares of the software maker’s stock after selling 9,934 shares during the period. Empowered Funds LLC owned about 0.07% of RingCentral worth $2,031,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. WealthCollab LLC raised its position in shares of RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock worth $26,000 after acquiring an additional 259 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after buying an additional 410 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in RingCentral by 269.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after acquiring an additional 738 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in RingCentral by 70.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after acquiring an additional 424 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in RingCentral in the third quarter valued at $30,000. 98.61% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at RingCentral
In other news, Director Robert I. Theis sold 2,530 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $40.28, for a total value of $101,908.40. Following the completion of the transaction, the director owned 30,834 shares in the company, valued at $1,241,993.52. This trade represents a 7.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $46.17, for a total transaction of $325,359.99. Following the completion of the sale, the chief financial officer owned 169,282 shares of the company’s stock, valued at $7,815,749.94. This trade represents a 4.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 38,628 shares of company stock worth $1,656,201. Company insiders own 7.30% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on RingCentral
RingCentral Trading Up 0.7%
Shares of RNG opened at $61.93 on Friday. The stock’s 50 day moving average is $43.13 and its two-hundred day moving average is $38.69. RingCentral, Inc. has a twelve month low of $24.14 and a twelve month high of $62.14. The firm has a market capitalization of $5.17 billion, a PE ratio of 49.55, a P/E/G ratio of 1.07 and a beta of 1.10.
RingCentral (NYSE:RNG – Get Free Report) last issued its earnings results on Thursday, July 23rd. The software maker reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.06. RingCentral had a negative return on equity of 34.49% and a net margin of 4.27%.The business had revenue of $657.01 million during the quarter, compared to the consensus estimate of $650.53 million. During the same period in the prior year, the business posted $1.06 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. On average, sell-side analysts predict that RingCentral, Inc. will post 2.88 EPS for the current year.
RingCentral Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.125 per share. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s dividend payout ratio is currently 40.00%.
RingCentral Company 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.
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