RingCentral, Inc. $RNG Stock: Pinnacle Associates Ltd. Decreases Position

Pinnacle Associates Ltd. lessened its stake in RingCentral, Inc. (NYSE:RNG) by 21.2% in the third quarter, HoldingsChannel reports. The fund owned 35,471 shares of the software maker’s stock after selling 9,545 shares during the period. Pinnacle Associates Ltd.’s holdings in RingCentral were worth $2,650,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RNG. WealthCollab LLC boosted its holdings in RingCentral by 59.7% during the 1st quarter. WealthCollab LLC now owns 693 shares of the software maker’s stock valued at $26,000 after acquiring an additional 259 shares during the period. Fortitude Family Office LLC grew its position in RingCentral by 128.1% during the 3rd quarter. Fortitude Family Office LLC now owns 349 shares of the software maker’s stock worth $26,000 after acquiring an additional 196 shares during the last quarter. Meeder Asset Management Inc. increased its stake in RingCentral by 127.3% in the 1st quarter. Meeder Asset Management Inc. now owns 732 shares of the software maker’s stock worth $27,000 after purchasing an additional 410 shares during the period. Rockefeller Capital Management L.P. increased its stake in RingCentral by 70.5% in the 4th 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. Finally, Elevation Wealth Partners LLC increased its stake in RingCentral by 119.3% in the 3rd quarter. Elevation Wealth Partners LLC now owns 546 shares of the software maker’s stock worth $41,000 after purchasing an additional 297 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RingCentral news, Director Amy Shenkan sold 1,264 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $78.89, for a total transaction of $99,716.96. Following the completion of the transaction, the director owned 28,108 shares of the company’s stock, valued at approximately $2,217,440.12. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Tarun Arora sold 4,172 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $70.36, for a total value of $293,541.92. Following the transaction, the chief accounting officer directly owned 65,692 shares of the company’s stock, valued at $4,622,089.12. This represents a 5.97% decrease in their position. 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. Insiders have sold 84,625 shares of company stock valued at $6,024,953 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RNG. Oppenheimer boosted their price objective on RingCentral from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday. Wells Fargo & Company raised their target price on shares of RingCentral from $65.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday. Robert W. Baird set a $95.00 target price on shares of RingCentral in a research note on Friday. FBN Securities reiterated an “outperform” rating and set a $105.00 price target on shares of RingCentral in a report on Friday. Finally, Needham & Company LLC increased their price target on shares of RingCentral from $85.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, RingCentral currently has an average rating of “Hold” and an average target price of $89.69.

More RingCentral News

Here are the key news stories impacting RingCentral this week:

• Positive Sentiment: Raised full-year guidance: RingCentral now expects fiscal 2026 adjusted EPS of $5.07–$5.12, well above the $4.61 analyst consensus, and revenue of approximately $2.7 billion versus expectations of $2.6 billion. Fourth-quarter EPS guidance of $1.32–$1.37 also exceeds the $1.24 consensus, while revenue guidance is slightly above estimates. RingCentral guidance
• Positive Sentiment: Beat quarterly expectations: Third-quarter EPS came in at $1.33 versus the $1.28 consensus, while revenue of $676.04 million exceeded estimates of $667.30 million and increased 5.8% year over year. RingCentral Q3 earnings
• Positive Sentiment: AI growth is becoming material: Paid artificial-intelligence product annual recurring revenue surpassed $400 million, with reports indicating that AI monetization roughly doubled. This supports expectations for stronger growth and margin expansion. RingCentral long-term investor takeaways
• Positive Sentiment: Balance sheet improved: RingCentral reduced gross debt below $1 billion ahead of schedule, while earnings and cash flow improved. The company also declared a quarterly dividend of $0.125 per share, equal to a $0.50 annualized payout. RingCentral outlook and cash flow
• Neutral Sentiment: Analyst targets moved higher: Needham raised its target to $110 with a Buy rating, FBN Securities lifted its target to $105, and Morgan Stanley increased its target to $91 while retaining Equal Weight. Wells Fargo also raised its target to $85 but maintained Equal Weight, suggesting some analysts view the near-term upside as more limited.
• Neutral Sentiment: At approximately $83.46, RingCentral remains below its $98.14 52-week high but trades well above its 50-day and 200-day moving averages, indicating strong momentum alongside a higher valuation.

RingCentral Trading Up 5.1%

Shares of RingCentral stock opened at $83.46 on Friday. The company’s fifty day simple moving average is $74.01 and its two-hundred day simple moving average is $54.24. The company has a market cap of $6.97 billion, a P/E ratio of 11.04, a PEG ratio of 1.38 and a beta of 1.10. RingCentral, Inc. has a 12-month low of $24.14 and a 12-month high of $98.14.

RingCentral (NYSE:RNG) last released its quarterly earnings results on Thursday, October 22nd. The software maker reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.05. The company had revenue of $676.04 million during the quarter, compared to the consensus estimate of $667.30 million. RingCentral had a net margin of 25.27% and a negative return on equity of 37.87%. RingCentral’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.13 earnings per share. Analysts predict that RingCentral, Inc. will post 2.89 EPS for the current fiscal year.

RingCentral Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $0.1250 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.50 dividend on an annualized basis and a yield of 0.6%. RingCentral’s dividend payout ratio is 40.00%.

About RingCentral

RingCentral, Inc is a provider of cloud-based business communications and collaboration solutions. Its platform enables organizations to manage business phone services, team messaging, video meetings, contact center operations and other communications through internet-based applications rather than traditional on-premises systems.

The company’s offerings include RingEX, a unified communications platform that combines voice, messaging and video; RingCentral Video for online meetings and collaboration; and RingCX, a cloud contact center solution.