Picton Mahoney Asset Management Increases Stock Position in RingCentral, Inc. $RNG

Picton Mahoney Asset Management grew its holdings in shares of RingCentral, Inc. (NYSE:RNG) by 176.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,855 shares of the software maker’s stock after purchasing an additional 19,705 shares during the quarter. Picton Mahoney Asset Management’s holdings in RingCentral were worth $875,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in RingCentral during the 3rd quarter worth approximately $33,577,000. AQR Capital Management LLC grew its position in shares of RingCentral by 27.6% during the second quarter. AQR Capital Management LLC now owns 1,626,454 shares of the software maker’s stock worth $45,728,000 after buying an additional 351,347 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of RingCentral by 50.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 812,518 shares of the software maker’s stock worth $23,035,000 after purchasing an additional 274,037 shares during the last quarter. Marshall Wace LLP lifted its holdings in RingCentral by 17.0% during the 2nd quarter. Marshall Wace LLP now owns 1,719,269 shares of the software maker’s stock worth $48,741,000 after buying an additional 249,329 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in shares of RingCentral by 22.9% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,224,090 shares of the software maker’s stock worth $34,691,000 after buying an additional 228,202 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Vladimir Shmunis sold 95,831 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $35.59, for a total transaction of $3,410,625.29. Following the completion of the transaction, the chief executive officer owned 126,685 shares in the company, valued at approximately $4,508,719.15. This represents a 43.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Kira Makagon sold 22,196 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $35.15, for a total value of $780,189.40. Following the sale, the chief operating officer owned 339,545 shares in the company, valued at approximately $11,935,006.75. This represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 250,686 shares of company stock valued at $8,865,429. Company insiders own 7.30% of the company’s stock.

RingCentral Trading Up 6.2%

Shares of RNG opened at $42.11 on Friday. RingCentral, Inc. has a 1-year low of $20.58 and a 1-year high of $42.42. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 87.73, a PEG ratio of 1.56 and a beta of 1.14. The company’s fifty day simple moving average is $29.93 and its 200 day simple moving average is $29.45.

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

RingCentral Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, March 9th.

Analysts Set New Price Targets

Several equities research analysts recently commented on RNG shares. Morgan Stanley boosted their target price on RingCentral from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Friday, February 20th. UBS Group set a $38.00 price target on RingCentral in a report on Friday, February 20th. Piper Sandler boosted their price target on shares of RingCentral from $28.00 to $37.00 and gave the company a “neutral” rating in a report on Monday, February 23rd. Rosenblatt Securities increased their price objective on RingCentral from $32.00 to $37.50 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Zacks Research raised RingCentral from a “strong sell” rating to a “hold” rating in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $34.04.

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.