Harel Insurance Investments & Financial Services Ltd. Decreases Stock Position in RingCentral, Inc. $RNG

Harel Insurance Investments & Financial Services Ltd. lowered its position in shares of RingCentral, Inc. (NYSE:RNG) by 11.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,716 shares of the software maker’s stock after selling 31,607 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in RingCentral were worth $9,250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC boosted its position 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 last quarter. Woodline Partners LP boosted its holdings in RingCentral by 14.8% in the first quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew 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 purchasing an additional 5,398 shares in the last quarter. Creative Planning purchased a new stake in RingCentral during the 2nd quarter worth approximately $274,000. Finally, Invesco Ltd. raised its position in shares of RingCentral by 10.8% in the 2nd quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock valued at $3,910,000 after purchasing an additional 13,446 shares in the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Amy Guggenheim Shenkan sold 1,265 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.59, for a total transaction of $51,346.35. Following the completion of the transaction, the director directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kira Makagon sold 16,988 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $42.54, for a total value of $722,669.52. Following the sale, the chief operating officer owned 212,724 shares in the company, valued at $9,049,278.96. The trade was a 7.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 45,451 shares of company stock valued at $1,933,565 over the last quarter. Corporate insiders own 7.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RNG. Morgan Stanley raised their price target on shares of RingCentral from $33.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Oppenheimer reiterated an “outperform” rating and set a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Rosenblatt Securities raised their price objective on shares of RingCentral from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Wells Fargo & Company boosted their target price on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Robert W. Baird set a $45.00 target price on shares of RingCentral in a research note on Friday, May 8th. Three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $43.00.

RingCentral Price Performance

Shares of RNG opened at $40.73 on Thursday. The business’s fifty day moving average price is $40.58 and its 200 day moving average price is $36.24. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The stock has a market capitalization of $3.42 billion, a PE ratio of 43.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.14.

RingCentral (NYSE:RNG) last released its earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The firm had revenue of $644.20 million during the quarter, compared to analyst estimates of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 earnings per share. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. As a group, research analysts anticipate that RingCentral, Inc. will post 2.78 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, June 2nd. RingCentral’s dividend payout ratio is currently 31.91%.

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.