Bastion Asset Management Inc. Has $8.35 Million Holdings in RingCentral, Inc. $RNG

Bastion Asset Management Inc. grew its holdings in RingCentral, Inc. (NYSE:RNG) by 51.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,921 shares of the software maker’s stock after purchasing an additional 78,943 shares during the period. RingCentral makes up 2.6% of Bastion Asset Management Inc.’s portfolio, making the stock its 12th biggest position. Bastion Asset Management Inc.’s holdings in RingCentral were worth $8,348,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RNG. EverSource Wealth Advisors LLC increased its holdings in shares of RingCentral by 269.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the software maker’s stock valued at $29,000 after purchasing an additional 738 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of RingCentral by 70.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,025 shares of the software maker’s stock worth $30,000 after purchasing an additional 424 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of RingCentral during the third quarter worth approximately $30,000. Global Retirement Partners LLC grew its position in RingCentral by 70.9% during the fourth quarter. Global Retirement Partners LLC now owns 1,540 shares of the software maker’s stock valued at $44,000 after purchasing an additional 639 shares in the last quarter. Finally, SJS Investment Consulting Inc. grew 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 valued at $45,000 after purchasing an additional 1,047 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

RingCentral Trading Up 2.8%

RingCentral stock opened at $41.85 on Friday. The company has a market capitalization of $3.51 billion, a P/E ratio of 44.52, a P/E/G ratio of 1.20 and a beta of 1.14. The firm’s fifty day simple moving average is $40.51 and its 200-day simple moving average is $36.32. RingCentral, Inc. has a 1-year low of $23.59 and a 1-year high of $49.85.

RingCentral (NYSE:RNG) last released its quarterly earnings data on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The business 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%. RingCentral’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. RingCentral has set its FY 2026 guidance at 4.850-5.010 EPS and its Q2 2026 guidance at 1.150-1.170 EPS. On average, equities research analysts predict that RingCentral, Inc. will post 2.78 earnings per share for the current year.

RingCentral Announces Dividend

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

Insider Buying and Selling at RingCentral

In related news, CFO Vaibhav Agarwal sold 7,047 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 169,282 shares of the company’s stock, valued at approximately $7,815,749.94. This trade represents a 4.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, Director Amy Guggenheim Shenkan sold 1,265 shares of the business’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 value of $51,346.35. Following the completion of the sale, the director owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This trade represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,451 shares of company stock worth $1,933,565 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Wall Street Analyst Weigh In

RNG has been the subject of a number of research analyst reports. Morgan Stanley increased their target price 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 restated an “outperform” rating and set a $50.00 price target on shares of RingCentral in a report on Friday, May 8th. Wells Fargo & Company upped their price target on shares of RingCentral from $32.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Robert W. Baird set a $45.00 price objective on RingCentral in a report on Friday, May 8th. Finally, Rosenblatt Securities lifted their price objective 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, RingCentral currently has an average rating of “Hold” and a consensus target price of $43.00.

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.