Insight Wealth Strategies LLC Buys Shares of 161,892 RingCentral, Inc. $RNG

Insight Wealth Strategies LLC purchased a new stake in RingCentral, Inc. (NYSE:RNG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 161,892 shares of the software maker’s stock, valued at approximately $6,636,000.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its stake in RingCentral by 9.0% during the 1st quarter. Empowered Funds LLC now owns 11,417 shares of the software maker’s stock worth $283,000 after buying an additional 940 shares during the period. Woodline Partners LP raised its position in RingCentral by 14.8% in the 1st quarter. Woodline Partners LP now owns 159,474 shares of the software maker’s stock valued at $3,949,000 after purchasing an additional 20,518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of RingCentral by 2.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,190 shares of the software maker’s stock valued at $6,467,000 after buying an additional 5,398 shares during the period. Creative Planning purchased a new position in shares of RingCentral in the 2nd quarter valued at about $274,000. Finally, Invesco Ltd. grew its position in shares of RingCentral by 10.8% during the second quarter. Invesco Ltd. now owns 137,935 shares of the software maker’s stock worth $3,910,000 after buying an additional 13,446 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Amy Guggenheim Shenkan sold 1,265 shares of the 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 directly owned 29,372 shares of the company’s stock, valued at approximately $1,192,209.48. This represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 that occurred on Friday, May 29th. The stock was sold at an average price of $43.00, for a total transaction of $155,445.00. Following the transaction, the chief accounting officer owned 68,100 shares in the company, valued at approximately $2,928,300. This trade represents a 5.04% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 38,628 shares of company stock worth $1,656,201 over the last ninety days. 7.30% of the stock is owned by corporate insiders.

RingCentral Stock Down 1.1%

RNG stock opened at $63.41 on Wednesday. The business has a 50 day moving average price of $44.17 and a 200 day moving average price of $39.48. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 50.73, a PEG ratio of 1.11 and a beta of 1.10. RingCentral, Inc. has a fifty-two week low of $24.14 and a fifty-two week high of $64.95.

RingCentral (NYSE:RNG) last announced its quarterly earnings results on Thursday, July 23rd. The software maker reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06. RingCentral had a net margin of 4.27% and a negative return on equity of 34.49%. The company had revenue of $657.01 million for the quarter, compared to analyst estimates of $650.53 million. During the same period in the prior year, the firm posted $1.06 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. RingCentral has set its FY 2026 guidance at 4.960-5.100 EPS and its Q3 2026 guidance at 1.250-1.300 EPS. As a group, sell-side analysts anticipate that RingCentral, Inc. will post 2.88 EPS for the current year.

RingCentral Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a $0.125 dividend. This is a boost from RingCentral’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.8%. RingCentral’s payout ratio is currently 40.00%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RNG. Needham & Company LLC reaffirmed a “buy” rating on shares of RingCentral in a report on Monday, July 20th. Jefferies Financial Group reiterated a “hold” rating and set a $40.00 price target on shares of RingCentral in a report on Saturday, May 9th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price objective on shares of RingCentral in a research report on Friday, May 8th. Mizuho raised their price objective on shares of RingCentral from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RingCentral in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, RingCentral has a consensus rating of “Hold” and an average price target of $44.40.

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.