RingCentral, Inc. (NYSE:RNG) Short Interest Update

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

RingCentral Stock Performance

RNG opened at $39.29 on Thursday. RingCentral has a one year low of $20.58 and a one year high of $40.64. The stock’s fifty day moving average is $29.47 and its 200-day moving average is $29.29. The company has a market capitalization of $3.40 billion, a PE ratio of 81.86, a P/E/G ratio of 1.45 and a beta of 1.14.

RingCentral (NYSE:RNG) last announced its earnings results on Thursday, February 19th. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $644.03 million during the quarter, compared to analysts’ expectations of $643.52 million. RingCentral had a negative return on equity of 28.14% and a net margin of 1.73%.The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. RingCentral has set its FY 2026 guidance at 4.760-4.970 EPS and its Q1 2026 guidance at 1.160-1.190 EPS. On average, equities research analysts forecast that RingCentral will post 1.29 EPS for the current fiscal year.

RingCentral Dividend Announcement

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

Analyst Upgrades and Downgrades

RNG has been the topic of several analyst reports. Zacks Research cut RingCentral from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 3rd. Robert W. Baird lifted their target price on RingCentral from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, February 23rd. Morgan Stanley increased their price target on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Friday, February 20th. Piper Sandler raised their price target on RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Finally, UBS Group set a $38.00 price objective on shares of RingCentral in a report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, RingCentral presently has an average rating of “Hold” and an average target price of $34.04.

Insider Buying and Selling

In other news, COO Kira Makagon sold 46,960 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $35.49, for a total transaction of $1,666,610.40. Following the completion of the transaction, the chief operating officer owned 369,524 shares in the company, valued at approximately $13,114,406.76. This represents a 11.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Agarwal sold 18,680 shares of RingCentral stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $36.33, for a total transaction of $678,644.40. Following the completion of the sale, the chief financial officer owned 139,493 shares in the company, valued at approximately $5,067,780.69. This represents a 11.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 250,686 shares of company stock valued at $8,865,429 in the last 90 days. Corporate insiders own 7.30% of the company’s stock.

Institutional Trading of RingCentral

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of RingCentral by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 11,823,636 shares of the software maker’s stock worth $335,082,000 after acquiring an additional 129,444 shares in the last quarter. Capital World Investors lifted its holdings in shares of RingCentral by 20.9% during the third 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 during the last quarter. LSV Asset Management boosted its position in shares of RingCentral by 142.4% in 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 during the period. AQR Capital Management LLC increased its stake in RingCentral by 35.4% in the 4th quarter. AQR Capital Management LLC now owns 2,003,950 shares of the software maker’s stock worth $57,874,000 after purchasing an additional 523,966 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in RingCentral during the 3rd quarter worth about $53,365,000. 98.61% of the stock is owned by institutional investors and hedge funds.

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.