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

Nomura Holdings Inc. cut its holdings in shares of RingCentral Inc (NYSE:RNG) by 81.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 336,401 shares of the software maker’s stock after selling 1,497,324 shares during the period. Nomura Holdings Inc.’s holdings in RingCentral were worth $38,981,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Penserra Capital Management LLC acquired a new stake in shares of RingCentral during the first quarter valued at about $36,000. Signaturefd LLC grew its stake in shares of RingCentral by 31.4% during the first quarter. Signaturefd LLC now owns 364 shares of the software maker’s stock valued at $39,000 after acquiring an additional 87 shares in the last quarter. Baldwin Brothers Inc. MA grew its stake in shares of RingCentral by 90.0% during the second quarter. Baldwin Brothers Inc. MA now owns 380 shares of the software maker’s stock valued at $44,000 after acquiring an additional 180 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in shares of RingCentral by 140.0% during the second quarter. Glen Harbor Capital Management LLC now owns 384 shares of the software maker’s stock valued at $44,000 after acquiring an additional 224 shares in the last quarter. Finally, Tyers Asset Management LLC grew its stake in shares of RingCentral by 140.0% during the second quarter. Tyers Asset Management LLC now owns 528 shares of the software maker’s stock valued at $61,000 after acquiring an additional 308 shares in the last quarter. Institutional investors own 82.22% of the company’s stock.

Shares of RNG stock traded down $0.53 during trading hours on Friday, hitting $132.80. 32,428 shares of the company were exchanged, compared to its average volume of 705,388. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.99 and a current ratio of 2.99. RingCentral Inc has a one year low of $64.41 and a one year high of $146.38. The business’s 50-day simple moving average is $137.24 and its two-hundred day simple moving average is $120.50. The stock has a market capitalization of $10.84 billion, a price-to-earnings ratio of -3,316.00 and a beta of 0.87.

RingCentral (NYSE:RNG) last issued its quarterly earnings results on Monday, July 29th. The software maker reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.13. RingCentral had a negative net margin of 3.95% and a negative return on equity of 1.13%. The business had revenue of $215.20 million for the quarter, compared to analysts’ expectations of $204.70 million. During the same quarter last year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. As a group, analysts anticipate that RingCentral Inc will post -0.13 EPS for the current fiscal year.

In other RingCentral news, CFO Mitesh Dhruv sold 2,556 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $119.97, for a total value of $306,643.32. Following the transaction, the chief financial officer now owns 168,720 shares of the company’s stock, valued at $20,241,338.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Praful Shah sold 5,016 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $115.33, for a total transaction of $578,495.28. Following the completion of the transaction, the insider now directly owns 257,763 shares in the company, valued at approximately $29,727,806.79. The disclosure for this sale can be found here. Insiders have sold 408,986 shares of company stock worth $55,074,381 in the last ninety days. Corporate insiders own 11.03% of the company’s stock.

Several analysts have recently weighed in on RNG shares. Oppenheimer raised their target price on RingCentral from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Morgan Stanley raised their target price on RingCentral from $129.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday. Zacks Investment Research upgraded RingCentral from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Thursday, July 4th. Raymond James raised their target price on RingCentral from $140.00 to $175.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Bank of America raised their target price on RingCentral from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target 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.

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Institutional Ownership by Quarter for RingCentral (NYSE:RNG)

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