RingCentral Inc (NYSE:RNG) Shares Sold by Nomura Holdings Inc.

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Nomura Holdings Inc. decreased its holdings in shares of RingCentral Inc (NYSE:RNG) by 81.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 336,401 shares of the software maker’s stock after selling 1,497,324 shares during the period. Nomura Holdings Inc. owned approximately 0.41% of RingCentral worth $38,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in RingCentral during the 1st quarter worth approximately $36,000. Signaturefd LLC increased its position in RingCentral by 31.4% during the 1st quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock worth $39,000 after purchasing an additional 87 shares during the period. Baldwin Brothers Inc. MA increased its position in RingCentral by 90.0% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock worth $44,000 after purchasing an additional 180 shares during the period. Glen Harbor Capital Management LLC increased its position in RingCentral by 140.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock worth $44,000 after purchasing an additional 224 shares during the period. Finally, Tyers Asset Management LLC increased its position in RingCentral by 140.0% during the 2nd quarter. Tyers Asset Management LLC now owns 528 shares of the software maker’s stock worth $61,000 after purchasing an additional 308 shares during the period. Institutional investors own 82.22% of the company’s stock.

In related news, CEO Vladimir Shmunis sold 18,750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $129.99, for a total value of $2,437,312.50. Following the sale, the chief executive officer now owns 253,333 shares of the company’s stock, valued at approximately $32,930,756.67. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO John H. Marlow sold 16,001 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $124.55, for a total value of $1,992,924.55. Following the completion of the sale, the chief accounting officer now directly owns 167,309 shares in the company, valued at approximately $20,838,335.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 408,986 shares of company stock worth $55,074,381. 11.03% of the stock is owned by corporate insiders.

Shares of RNG traded down $0.53 on Friday, reaching $132.80. The stock had a trading volume of 32,428 shares, compared to its average volume of 705,388. The firm has a market capitalization of $10.84 billion, a PE ratio of -3,316.00 and a beta of 0.87. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average of $137.24 and a 200 day moving average of $120.50. RingCentral Inc has a twelve month low of $64.41 and a twelve month high of $146.38.

RingCentral (NYSE:RNG) last posted its earnings results on Monday, July 29th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.13. RingCentral had a negative return on equity of 1.13% and a negative net margin of 3.95%. The firm had revenue of $215.20 million for the quarter, compared to analyst estimates of $204.70 million. During the same quarter in the prior year, the company earned $0.19 EPS. RingCentral’s revenue was up 33.8% on a year-over-year basis. On average, sell-side analysts anticipate that RingCentral Inc will post -0.13 earnings per share for the current fiscal year.

Several equities analysts have issued reports on RNG shares. Jefferies Financial Group boosted their target price on RingCentral from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Craig Hallum boosted their target price on RingCentral from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America boosted their target price on RingCentral from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Oppenheimer boosted their target price on RingCentral from $130.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, SunTrust Banks boosted their target price on RingCentral to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $138.63.

RingCentral Company Profile

RingCentral, Inc provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect primarily in North America. The company's products include RingCentral Office, provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax through smartphones, tablets, PCs, and desk phones; RingCentral Professional, a cloud based virtual telephone service for professionals, as well as provides inbound call answering and management services, and includes inbound local, long-distance, and toll-free minutes; and RingCentral Fax that provides online fax capabilities that allow businesses to send and receive fax documents without a fax machine.

Read More: Certificate of Deposit (CD)

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Institutional Ownership by Quarter for RingCentral (NYSE:RNG)

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