RingCentral, Inc. (NYSE:RNG) Short Interest Up 24.0% in February

RingCentral, Inc. (NYSE:RNG) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 10,998,242 shares, an increase of 24.0% from the January 29th total of 8,866,022 shares. Approximately 13.7% of the company’s shares are sold short. Based on an average daily trading volume, of 4,070,025 shares, the short-interest ratio is presently 2.7 days. Based on an average daily trading volume, of 4,070,025 shares, the short-interest ratio is presently 2.7 days. Approximately 13.7% of the company’s shares are sold short.

RingCentral Price Performance

RNG traded down $0.40 during trading on Tuesday, reaching $35.74. 309,083 shares of the stock traded hands, compared to its average volume of 2,763,282. The stock’s 50-day simple moving average is $29.11 and its two-hundred day simple moving average is $29.18. RingCentral has a fifty-two week low of $20.58 and a fifty-two week high of $40.64. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 73.49, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14.

RingCentral (NYSE:RNG) last posted its quarterly earnings results 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. The company had revenue of $644.03 million during the quarter, compared to the consensus estimate of $643.52 million. RingCentral had a negative return on equity of 29.05% and a net margin of 1.73%.The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. Research analysts anticipate that RingCentral will post 1.29 earnings per share for the current fiscal year.

RingCentral Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 9th.

Analysts Set New Price Targets

Several brokerages have issued reports on RNG. Oppenheimer reissued an “outperform” rating on shares of RingCentral in a research note on Friday, February 20th. Zacks Research downgraded RingCentral from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Piper Sandler upped their price target on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, February 23rd. Morgan Stanley raised their price objective on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Finally, Rosenblatt Securities lifted their target price on RingCentral from $32.00 to $37.50 and gave the company a “buy” rating in a research note on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, RingCentral presently has a consensus rating of “Hold” and a consensus price target of $34.04.

Insider Activity

In other RingCentral news, CAO Tarun Arora sold 773 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $34.80, for a total value of $26,900.40. Following the completion of the transaction, the chief accounting officer directly owned 96,179 shares in the company, valued at $3,347,029.20. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kira Makagon sold 22,196 shares of RingCentral stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $35.15, for a total transaction of $780,189.40. Following the completion of the transaction, the chief operating officer directly owned 339,545 shares in the company, valued at approximately $11,935,006.75. This trade represents a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 228,283 shares of company stock valued at $8,052,235 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in RingCentral by 1.1% in the third quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after purchasing an additional 129,444 shares in the last quarter. Capital World Investors lifted its position in shares of RingCentral by 20.9% in the third quarter. Capital World Investors now owns 11,735,991 shares of the software maker’s stock worth $332,598,000 after buying an additional 2,031,861 shares during the last quarter. LSV Asset Management boosted its stake in shares of RingCentral by 142.4% during the 4th quarter. LSV Asset Management now owns 2,871,700 shares of the software maker’s stock worth $82,935,000 after acquiring an additional 1,686,900 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of RingCentral by 35.4% during the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after acquiring an additional 523,966 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of RingCentral during the 3rd quarter valued at about $53,365,000. Institutional investors own 98.61% of the company’s stock.

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.