OP Asset Management Ltd Invests $6.89 Million in RingCentral, Inc. $RNG

OP Asset Management Ltd acquired a new stake in shares of RingCentral, Inc. (NYSE:RNG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 185,308 shares of the software maker’s stock, valued at approximately $6,892,000. OP Asset Management Ltd owned 0.21% of RingCentral at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in RingCentral by 269.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock worth $29,000 after buying an additional 738 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of RingCentral in the 3rd quarter valued at $30,000. Rockefeller Capital Management L.P. lifted its holdings in shares of RingCentral by 70.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after acquiring an additional 424 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of RingCentral by 70.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock worth $44,000 after acquiring an additional 639 shares during the period. Finally, Covestor Ltd boosted its position in shares of RingCentral by 198.5% during the 4th quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $46,000 after acquiring an additional 1,060 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Stock Down 3.5%

Shares of RNG stock opened at $34.58 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 36.79, a P/E/G ratio of 1.05 and a beta of 1.14. RingCentral, Inc. has a 12-month low of $23.59 and a 12-month high of $49.85. The firm has a 50-day moving average price of $40.85 and a 200 day moving average price of $35.21.

RingCentral (NYSE:RNG) last issued its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.03. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The firm had revenue of $644.20 million for the quarter, compared to analysts’ expectations of $642.73 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. 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 expect that RingCentral, Inc. will post 2.79 earnings per share for the current year.

RingCentral Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, June 2nd were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is currently 31.91%.

Wall Street Analysts Forecast Growth

RNG has been the subject of several recent research reports. Wells Fargo & Company increased their price target 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. Oppenheimer reiterated an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Robert W. Baird set a $45.00 target price on RingCentral in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on RingCentral from $36.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Rosenblatt Securities upped their price target on RingCentral from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling at RingCentral

In other news, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $46.17, for a total value of $325,359.99. Following the completion of the sale, the chief financial officer directly owned 169,282 shares in the company, valued at approximately $7,815,749.94. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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, CAO Tarun Arora sold 3,615 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the completion of the transaction, the chief accounting officer directly owned 68,100 shares of the company’s stock, valued at approximately $2,928,300. This represents a 5.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 41,656 shares of company stock worth $1,780,310. 7.30% of the stock is currently owned by insiders.

About RingCentral

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.