Robertson Stephens Wealth Management LLC Buys 50,122 Shares of RingCentral, Inc. $RNG

Robertson Stephens Wealth Management LLC raised its stake in shares of RingCentral, Inc. (NYSE:RNG) by 124.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 90,311 shares of the software maker’s stock after acquiring an additional 50,122 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in RingCentral were worth $2,608,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RNG. Empowered Funds LLC lifted its stake in RingCentral by 9.0% during the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock valued at $283,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP lifted its stake in RingCentral by 14.8% during the 1st quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after acquiring an additional 20,518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in RingCentral by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after acquiring an additional 5,398 shares in the last quarter. Creative Planning bought a new position in RingCentral during the 2nd quarter valued at $274,000. Finally, Invesco Ltd. lifted its stake in RingCentral by 10.8% during the 2nd quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after acquiring an additional 13,446 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

Insider Transactions at RingCentral

In related news, COO Kira Makagon sold 5,870 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $40.27, for a total value of $236,384.90. Following the sale, the chief operating officer directly owned 236,715 shares in the company, valued at approximately $9,532,513.05. The trade was a 2.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Agarwal sold 18,680 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $36.33, for a total value of $678,644.40. Following the completion of the sale, the chief financial officer owned 139,493 shares in the company, valued at $5,067,780.69. This represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 259,854 shares of company stock valued at $9,312,708. 7.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RNG. UBS Group set a $38.00 price objective on RingCentral in a research note on Friday, February 20th. Oppenheimer reiterated an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Needham & Company LLC lifted their target price on RingCentral from $36.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Robert W. Baird lifted their target price on RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Finally, Rosenblatt Securities lifted 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. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $35.63.

RingCentral Price Performance

NYSE RNG opened at $45.23 on Friday. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 94.22, a PEG ratio of 1.73 and a beta of 1.13. RingCentral, Inc. has a one year low of $23.59 and a one year high of $46.11. The business’s fifty day moving average is $38.16 and its 200-day moving average is $31.72.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, February 19th. The software maker reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $644.03 million for the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Research analysts expect that RingCentral, Inc. will post 2.68 EPS for the current fiscal year.

RingCentral Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, March 9th. RingCentral’s payout ratio is currently 62.50%.

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.