Picton Mahoney Asset Management Buys 19,705 Shares of RingCentral, Inc. $RNG

Picton Mahoney Asset Management grew its stake in RingCentral, Inc. (NYSE:RNG) by 176.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,855 shares of the software maker’s stock after buying an additional 19,705 shares during the quarter. Picton Mahoney Asset Management’s holdings in RingCentral were worth $875,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Global Retirement Partners LLC lifted its position in shares of RingCentral by 98.5% in the third quarter. Global Retirement Partners LLC now owns 901 shares of the software maker’s stock worth $26,000 after buying an additional 447 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of RingCentral by 61.6% during the third quarter. Jones Financial Companies Lllp now owns 1,217 shares of the software maker’s stock valued at $37,000 after purchasing an additional 464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in RingCentral by 103.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,823 shares of the software maker’s stock worth $52,000 after purchasing an additional 925 shares during the period. Rothschild Investment LLC purchased a new stake in shares of RingCentral in the 3rd quarter worth approximately $66,000. Finally, Aster Capital Management DIFC Ltd bought a new position in RingCentral in the third quarter worth about $68,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Insider Transactions at RingCentral

In other RingCentral news, CEO Vladimir Shmunis sold 95,831 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the completion of the sale, the chief executive officer directly owned 126,685 shares in the company, valued at $4,508,719.15. The trade was a 43.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tarun Arora sold 3,723 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $36.14, for a total value of $134,549.22. Following the completion of the sale, the chief accounting officer owned 84,332 shares of the company’s stock, valued at approximately $3,047,758.48. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 250,686 shares of company stock worth $8,865,429 over the last ninety days. 7.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Zacks Research upgraded RingCentral from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird raised their target price on shares of RingCentral from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, February 23rd. Rosenblatt Securities raised 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. Oppenheimer reaffirmed an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Finally, Weiss Ratings upgraded RingCentral from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.04.

RingCentral Stock Up 6.2%

Shares of RingCentral stock opened at $42.11 on Friday. The firm’s 50 day moving average is $29.93 and its two-hundred day moving average is $29.45. The firm has a market capitalization of $3.65 billion, a P/E ratio of 87.73, a P/E/G ratio of 1.56 and a beta of 1.14. RingCentral, Inc. has a 52 week low of $20.58 and a 52 week high of $42.42.

RingCentral (NYSE:RNG) last posted its quarterly earnings data on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. As a group, research analysts expect that RingCentral, Inc. will post 1.29 earnings per share for the current fiscal year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, March 9th.

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.