BNP Paribas Financial Markets Sells 429,608 Shares of RingCentral, Inc. $RNG

BNP Paribas Financial Markets trimmed its holdings in RingCentral, Inc. (NYSE:RNG) by 36.1% in the 4th quarter, Holdings Channel reports. The fund owned 759,546 shares of the software maker’s stock after selling 429,608 shares during the quarter. BNP Paribas Financial Markets’ holdings in RingCentral were worth $21,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in RingCentral by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock valued at $335,082,000 after purchasing an additional 129,444 shares in the last quarter. Capital World Investors increased its stake in RingCentral by 20.9% during the 3rd quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock valued at $332,598,000 after purchasing an additional 2,031,861 shares in the last quarter. LSV Asset Management increased its stake in RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock valued at $82,935,000 after purchasing an additional 1,686,900 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in RingCentral during the 3rd quarter valued at about $53,365,000. Finally, Marshall Wace LLP increased its stake in RingCentral by 4.4% during the 3rd quarter. Marshall Wace LLP now owns 1,794,978 shares of the software maker’s stock valued at $50,870,000 after purchasing an additional 75,709 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

RingCentral Stock Down 3.9%

Shares of NYSE RNG opened at $42.29 on Friday. The firm’s 50-day moving average price is $40.86 and its 200-day moving average price is $34.28. The company has a market cap of $3.55 billion, a PE ratio of 44.99, a PEG ratio of 1.29 and a beta of 1.14. RingCentral, Inc. has a 52-week low of $23.59 and a 52-week high of $49.85.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, May 7th. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. The firm had revenue of $644.20 million for the quarter, compared to the consensus estimate of $642.73 million. RingCentral had a net margin of 3.31% and a negative return on equity of 33.75%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $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. As a group, equities research analysts anticipate that RingCentral, Inc. will post 2.79 EPS for the current fiscal year.

RingCentral Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Tuesday, June 2nd will be issued 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 is Tuesday, June 2nd. RingCentral’s dividend payout ratio (DPR) is presently 31.91%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RNG. Wells Fargo & Company raised their price objective on shares of RingCentral from $32.00 to $43.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Zacks Research upgraded shares of RingCentral from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Morgan Stanley raised their price objective on shares of RingCentral from $33.00 to $40.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Mizuho raised their price objective on shares of RingCentral from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Robert W. Baird set a $45.00 price objective on shares of RingCentral in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.00.

Insider Activity

In other news, COO Kira Makagon sold 16,988 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $42.54, for a total transaction of $722,669.52. Following the sale, the chief operating officer owned 212,724 shares of the company’s stock, valued at $9,049,278.96. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 3,615 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $43.00, for a total transaction of $155,445.00. Following the sale, the chief accounting officer directly owned 68,100 shares in the company, valued at approximately $2,928,300. The trade was a 5.04% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 50,496 shares of company stock valued at $2,140,010 in the last 90 days. 7.30% of the stock is currently owned by insiders.

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.