Aperio Group LLC raised its position in shares of Ringcentral, Inc. (NYSE:RNG) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,457 shares of the software maker’s stock after buying an additional 169 shares during the period. Aperio Group LLC’s holdings in Ringcentral were worth $419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Ringcentral by 9.4% in the first quarter. Vanguard Group Inc. now owns 5,184,049 shares of the software maker’s stock worth $146,709,000 after buying an additional 446,995 shares in the last quarter. BlackRock Inc. raised its position in Ringcentral by 64,315.0% in the first quarter. BlackRock Inc. now owns 3,827,538 shares of the software maker’s stock worth $108,320,000 after buying an additional 3,821,596 shares in the last quarter. Victory Capital Management Inc. raised its position in Ringcentral by 6.2% in the first quarter. Victory Capital Management Inc. now owns 3,444,632 shares of the software maker’s stock worth $97,483,000 after buying an additional 200,850 shares in the last quarter. FMR LLC raised its position in Ringcentral by 399.9% in the first quarter. FMR LLC now owns 2,073,108 shares of the software maker’s stock worth $58,668,000 after buying an additional 1,658,408 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Ringcentral by 17.9% in the first quarter. Renaissance Technologies LLC now owns 1,644,005 shares of the software maker’s stock worth $46,525,000 after buying an additional 249,505 shares in the last quarter. Institutional investors own 75.22% of the company’s stock.

Shares of Ringcentral, Inc. (NYSE:RNG) traded up 0.582% on Tuesday, hitting $38.875. 119,289 shares of the stock were exchanged. The firm’s market cap is $2.98 billion. The firm’s 50 day moving average price is $36.76 and its 200 day moving average price is $32.18. Ringcentral, Inc. has a one year low of $19.35 and a one year high of $43.05.

Ringcentral (NYSE:RNG) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The business had revenue of $119.40 million for the quarter, compared to the consensus estimate of $118.19 million. Ringcentral had a negative net margin of 6.77% and a negative return on equity of 19.59%. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. Equities analysts anticipate that Ringcentral, Inc. will post $0.17 earnings per share for the current year.

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RNG has been the topic of a number of recent research reports. Stephens restated an “overweight” rating and issued a $44.00 price objective on shares of Ringcentral in a research note on Sunday, June 25th. BidaskClub lowered shares of Ringcentral from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $38.00 price objective on shares of Ringcentral in a research note on Sunday, July 2nd. Craig Hallum restated a “buy” rating and issued a $40.00 price objective (up from $35.00) on shares of Ringcentral in a research note on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $33.00 price objective (up from $32.00) on shares of Ringcentral in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $39.17.

In related news, CEO Vladimir Shmunis sold 86,000 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $35.84, for a total transaction of $3,082,240.00. Following the transaction, the chief executive officer now owns 358,041 shares in the company, valued at approximately $12,832,189.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kira Makagon sold 10,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $34.68, for a total transaction of $346,800.00. Following the transaction, the executive vice president now owns 176,493 shares in the company, valued at approximately $6,120,777.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 354,252 shares of company stock worth $13,146,608. 14.53% of the stock is owned by corporate insiders.

Ringcentral Company Profile

RingCentral, Inc is a provider of software-as-a-service (SaaS) solutions for businesses to support modern communications. The Company’s cloud-based business communications solutions provide a single user identity across multiple locations and devices, including smartphones, tablets, personal computers (PCs) and desk phones, and allow for communication across multiple channels, including high definition (HD) voice, video, short messaging service (SMS), messaging and collaboration, conferencing, online meetings, and fax.

Institutional Ownership by Quarter for Ringcentral (NYSE:RNG)

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