Primecap Management Co. CA Sells 15,825 Shares of RingCentral, Inc. $RNG

Primecap Management Co. CA lowered its position in RingCentral, Inc. (NYSE:RNG) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,075 shares of the software maker’s stock after selling 15,825 shares during the quarter. Primecap Management Co. CA’s holdings in RingCentral were worth $9,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH boosted its holdings in RingCentral by 22.9% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock valued at $34,691,000 after acquiring an additional 228,202 shares during the period. Y Intercept Hong Kong Ltd increased its stake in RingCentral by 544.8% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 91,918 shares of the software maker’s stock worth $2,605,000 after purchasing an additional 77,663 shares during the period. Russell Investments Group Ltd. lifted its position in RingCentral by 79.4% in the second quarter. Russell Investments Group Ltd. now owns 340,188 shares of the software maker’s stock valued at $9,610,000 after purchasing an additional 150,537 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of RingCentral during the second quarter valued at approximately $430,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of RingCentral by 29.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 599,629 shares of the software maker’s stock valued at $16,999,000 after purchasing an additional 134,992 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Tarun Arora sold 3,888 shares of RingCentral stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $28.70, for a total value of $111,585.60. Following the completion of the transaction, the chief accounting officer owned 93,412 shares of the company’s stock, valued at $2,680,924.40. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Vladimir Shmunis sold 95,831 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the completion of the transaction, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. The trade was a 43.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 232,171 shares of company stock worth $8,163,821 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

RingCentral Price Performance

NYSE:RNG opened at $36.26 on Friday. The firm’s 50-day moving average price is $28.98 and its 200-day moving average price is $29.14. The company has a market capitalization of $3.14 billion, a PE ratio of 75.54, a P/E/G ratio of 1.47 and a beta of 1.23. RingCentral, Inc. has a 1-year low of $20.58 and a 1-year high of $40.64.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The business had revenue of $644.03 million for the quarter, compared to analyst estimates of $643.52 million. RingCentral had a net margin of 1.73% and a negative return on equity of 29.05%. RingCentral’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Equities analysts anticipate that RingCentral, Inc. will post 1.29 EPS for the current fiscal year.

RingCentral Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on RNG. Morgan Stanley upped their price target on shares of RingCentral from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Friday, February 20th. UBS Group set a $38.00 price objective on shares of RingCentral in a research report on Friday, February 20th. Mizuho upped their price objective on shares of RingCentral from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Rosenblatt Securities lifted their target price on shares of RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Zacks Research cut shares of RingCentral from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, RingCentral has a consensus rating of “Hold” and a consensus price target of $34.04.

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.