156,142 RingCentral, Inc. $RNG Shares Sold by Insight Wealth Strategies LLC

Insight Wealth Strategies LLC reduced its position in RingCentral, Inc. (NYSE:RNG) by 96.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,750 shares of the software maker’s stock after selling 156,142 shares during the period. Insight Wealth Strategies LLC’s holdings in RingCentral were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in RNG. WealthCollab LLC grew its stake 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 during the period. Meeder Asset Management Inc. lifted its holdings in RingCentral by 127.3% during the first quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock valued at $27,000 after purchasing an additional 410 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock valued at $30,000 after purchasing an additional 424 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in RingCentral by 119.3% during the third quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker’s stock worth $41,000 after purchasing an additional 297 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in RingCentral by 598.3% during the first quarter. SJS Investment Consulting Inc. now owns 1,222 shares of the software maker’s stock worth $45,000 after purchasing an additional 1,047 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

RingCentral Stock Performance

RingCentral stock traded up $1.05 during midday trading on Friday, reaching $79.40. 264,040 shares of the stock were exchanged, compared to its average volume of 1,998,171. RingCentral, Inc. has a 52 week low of $24.14 and a 52 week high of $81.90. The firm has a market cap of $6.63 billion, a PE ratio of 63.52, a PEG ratio of 1.33 and a beta of 1.10. The company’s fifty day moving average is $70.20 and its 200-day moving average is $51.09.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The firm had revenue of $657.01 million during the quarter, compared to analyst estimates of $650.53 million. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 EPS. 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 anticipate that RingCentral, Inc. will post 2.89 earnings per share for the current fiscal year.

RingCentral Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Thursday, August 6th were paid a $0.1250 dividend. The ex-dividend date was Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.6%. This is an increase from RingCentral’s previous quarterly dividend of $0.0750. RingCentral’s dividend payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RNG. Oppenheimer boosted their price target on shares of RingCentral from $50.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, September 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $50.00 price objective on shares of RingCentral in a report on Friday, July 24th. Wells Fargo & Company lifted their price objective on shares of RingCentral from $43.00 to $65.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 25th. Weiss Ratings reissued a “hold (c)” rating on shares of RingCentral in a report on Friday, July 17th. Finally, Piper Sandler increased their target price on RingCentral from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Insiders Place Their Bets

In other RingCentral news, CEO Vladimir Shmunis sold 15,556 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $71.78, for a total value of $1,116,609.68. Following the sale, the chief executive officer owned 190,271 shares of the company’s stock, valued at $13,657,652.38. This trade represents a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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. Also, CFO Vaibhav Agarwal sold 7,046 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $72.10, for a total value of $508,016.60. Following the transaction, the chief financial officer directly owned 146,700 shares of the company’s stock, valued at $10,577,070. The trade was a 4.58% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 84,625 shares of company stock worth $6,024,953. 7.30% of the stock is owned by corporate insiders.

RingCentral Profile

RingCentral, Inc provides cloud-based business communications and collaboration solutions. Its platform helps organizations manage voice communications, team messaging, video meetings, contact center operations and customer interactions through internet-based services rather than traditional on-premises systems.

The company’s offerings include RingCentral RingEX, a unified communications platform combining business phone service, messaging and video; RingCentral Video for meetings and collaboration; and RingCentral Contact Center, which supports customer service operations across voice and digital channels.